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Invoice Factoring Companies In Philadelphia, PA
If your business experiences cash-flow gaps there are a wide variety of financing options available. One of these options is invoice factoring, and it doesn’t actually require you to take on any debt. Instead, a factoring company will purchase your current invoices for a reduced cost and then collect the invoice directly from your client. This can be a great way of alleviating cash flow stress during certain parts of your business cycle. In this article, we look at some of Philadelphia’s best invoice factoring companies.
48 Factoring
48 Factoring is a Philadelphia based factoring firm that opened up in 2014. At present, they focus on working with small businesses who are looking to expand rapidly but often have shortages in cash flow. Their website has comprehensive explanations on your eligibility for their varying types of financing. They have a triple B rating from the Better Business Bureau.
Paragon Financial
Paragon Financial is a nationwide factoring company that has a significant presence in Philadelphia. The company entered the Philadelphia market 23 years ago, it is now one of the largest factoring companies in the city. They offer comprehensive factoring solutions through their team of brokers whom you can contact through their website.
Invoice Advance
Invoice Advance is a medium sized factoring company that has a presence in Philadelphia. They have an online factoring calculator that can help you determine if it can truly help your business. They provide funding for small to mid-sized companies. You can apply for funding through their online portal.
Verdict
48 Factoring is one of the only factoring companies in Philadelphia that is exclusive to the region. Most of Philadelphia’s other factoring companies, such as Paragon Financial and Invoice advance, have a national reach. 48 Factoring is probably the best company in terms of customer focus if you’re a small or medium sized firm. If you have extensive funding requirements Paragon Financial is probably your best option.
