Factorstogether

Factorstogether is a company that provides factoring services to businesses. Factoring is a financial transaction where a company sells its accounts receivable, or invoices, to a third party, known as a factor, at a discount. The factor then collects the payment from the company's customers. This service can help businesses improve their cash flow, especially those that experience long payment cycles from their clients.

The services offered by factorstogether typically include immediate funding against outstanding invoices, management of accounts receivable, and credit protection. By converting invoices into cash quickly, businesses can meet their operational expenses, take on new orders, and avoid cash flow shortages. The company aims to support businesses, particularly small and medium-sized enterprises, by providing them with the financial flexibility needed to grow.

Factorstogether operates by assessing the creditworthiness of a business's customers and the quality of their invoices. Once approved, a factoring agreement is established, outlining the terms, fees, and responsibilities of both parties. The company's role extends beyond just providing capital; they often handle the administrative tasks associated with collecting payments, which can free up valuable time for the business owner to focus on core operations and strategic development.