Corporate Funding - West Virginia Corporations
Do you own a business in West Virginia? Haven’t been able to get a business loan to finance your company’s growth? Growing your company with a business loan has a number of advantages but at the same time be very challenging. For example, many small business loans:
- Are hard to apply for - requiring a lot of historical/past information
- Take a long time (sometimes months) to get
- Generally best suited to purchase capital goods
An alternate source of funding called invoice financing can be used to fund growing companies. It’s a type of business financing that has a number of advantages:
- It’s relatively easy to get
- Can be set up quickly
- Can help cover business operational expenses
- Dynamic - can grow with your company
Please read our qualification criteria to see if we can help you. We can work with companies based in West Virginia and have worked with clients in the USA and in Canada
Qualification criteria:
- We can only finance companies/businesses
- The company must be in operation. We work with startups as well
- Your company have commercial/government clients (we can’t finance retail companies)
- You must use the working capital to pay suppliers, employees or company expenses
The problem: Can’t wait 30 to 60 days to get paid by clients?
One of the issues of doing business with commercial or government clients is that they always take up to 60 days to pay their invoices. Although larger companies can usually afford to wait that long - many can’t. Most small and medium sized companies have pressing obligations and a tight budget - they must pay employees, rent and cover other expenses. As a matter of fact, most company managers would not be looking for a small business loan if their customers paid their accounts receivable quickly.
The solution - Invoice financing:
We can provide your company with an advance payment on your slow paying accounts receivable and eliminate the 60 day wait to get paid. This can usually reduce or even eliminate working capital problems, improve cash flow and help pay:
- Corporate suppliers
- Employees and contractors
- Rent and other operational expenses
The biggest advantage of financing your invoices is that it gives you predictable cash flow and puts your company on a more solid financial standing. From commercial credit standpoint, we consider your clients to be your biggest and best collateral. That means that companies with a solid roster of credit worthy clients can thrive with invoice financing.
Most companies that have commercial sales can qualify for this type of financing, provided their clients have good credit, their invoicing practices are good and they are free of liens and encumbrances.
Would you like an instant quote?
Would you like an invoice financing quote? Please fill out this form for an instant quotation.
How does invoice funding work?
Invoice financing is simple to use:
- After completing your work (or delivering product), you invoice your client
- Your company gets an immediate 80% funding advance on the invoice. This varies by industry
- Once your client pays for the invoice, you get a second advance of 20%, less the financing fee
Industries that can be financed in West Virginia:
Invoice funding is very flexible and can be used in a number of industries. Some industries that benefit from these services include:
- Product Manufacturing
- Employment and Staffing
- Security
- Government contractors and suppliers
- Freight transportation / brokers
- Consulting and advisory services
- Product Distributors and Wholesalers
- Medical and healthcare providers billing private insurance or Medicare/Medicaid
- Construction (we can only work with subcontractors)
Additional resources - West Virginia companies
We have a comprehensive business financing library about invoice financing. Here are some sample articles:
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