Speed Up Cash Flow
Factor invoices instead of chasing customer payments.
Factoring Fees as low as 1% - High Advances
Non-Recourse Factoring
Instead of waiting weeks - or even months - on customer payments, factor invoices to speed up cash flow. Non-recourse factoring offers the benefits of invoice factoring plus it reduces or even eliminates your organization’s financial risk from bad debt.
Factoring with Recourse
Factoring with full recourse often - but not always - provides your organization the lowest factoring fee and highest advance rate. Apply to start factoring invoices and get paid in as little as 1 business day!
Spot Factoring
With Wave Crest Financial, you stay in control. Factor invoices on an on-going basis, occasionally, or even just one time, whatever is in the best interest of your business!
What is invoice factoring?
Nearly any type of organization or individual that sells goods or services to customers on terms (net 30, 60, etc.) can factor invoices and immediately unlock the money that would otherwise be tied up in customer invoices for 30, 45, 60 days (or even longer), without waiting for customers to pay.
How the invoice factoring process works.
Speed up cash flow.
From the moment your business generates an invoice or you receive a statement of earnings, you can factor it and receive payment of up to 98% of the invoice amount in as little as one business day.
Working capital in hand, you can reinvest more quickly to grow your business and better-align expenses with income.
Day one
- generate an invoice (or receive an earnings statement)
- factor the invoice or earnings statement with Wave Crest FinancialNext business day
- on approval, receive an advance (may range from 80-95% of the invoice amount)
- pay as little as a 1% factoring feeOn payment
- once the customer has remitted payment, any amount held in reserve (less the factoring fee) will also be returned to you
Benefits of factoring invoices.
The time spent waiting for customer payments represents costs - called opportunity cost, and includes any and every opportunity you could have taken advantage of if you had working capital in hand (instead of “on the books” in pending accounts receivables).
Freeing up capital for growth initiatives or emerging opportunities
Easier to make payroll and meet expenses
Leverage fast payments for supplier discounts
Take on bigger accounts or larger orders
Focus on business, not receivables or collections!
Who should factor invoices?
Any organization or individual who sells to customers (or through third-party platforms) and waits on payments could be a good candidate for invoice factoring.
Receivables are a valuable asset! Instead of chasing customer payments, factor invoices and earnings statements to receive payment right away, so you can reinvest in future sales more quickly.