Invoice Factoring B2B For Architecture Firms
As an architect, you cannot always afford to wait for payment from your clients to improve your business. Whether you are just starting or have been running your architecture firm for years, paying for supplies, licensing, insurance and more can be challenging if you’re having cash flow issues.
Waiting for payments shouldn’t hinder you from growing your architecture business, so invoice factoring with Great Funds Factoring could help you. If you need money to improve your business, qualifying for bank loans can be difficult.
Great Funds Factoring will purchase your invoices and pay you cash almost immediately. Invoice factoring is not a loan; we buy your invoice at a slight discount so that you can put the money you are owed back into your architecture firm.
What is Invoice Factoring B2B For Architecture firms?
Invoice factoring, sometimes referred to as accounts receivable factoring, is a service provided by Great Funds Factoring to help your architecture firm to grow without waiting 30 to 90 days for customers to pay. We purchase your firm’s invoices for cash up front as an alternative funding option for the growth of your business.
As the owner of an architecture firm, you may find that there are improvements that cannot wait until all of your customers pay their invoices.
You deserve to be paid for your work and move forward with the success of your business. Our invoice factoring services are ideal for any architectural firm that wants to improve its cash flow.
How Does Invoice Factoring B2B Help Architecture Firms Get Paid Fast?
Do you desperately need to hire another architect to keep up with the demands of your growing business? Maybe your new architecture firm is finally picking up, but your unpaid invoices prevent you from getting the equipment you need to take on newer, more prominent clients.
As an architect, you must account for multiple expenses, but not every client will be able to pay the amount that they owe you upfront.
With invoice factoring, your business can make improvements and purchases without waiting for customers to pay, or having to utilize traditional financing methods.
Great Funds Factoring releases the cash in your unpaid invoices and works with you to help customers pay.
How Great Funds Factoring Helps Your Architecture Business?
If you want to see continuous growth in your architecture business, but currently have unpaid invoices, Great Funds Factoring provides the cash you need to succeed without the wait. Below is an explanation of how our services work so you can understand how invoice factoring can fund you.
At Great Funds Factoring, we understand that there are many financial challenges that even the most successful businesses can go through and the stress that they can cause. We believe that good communication is key to developing a strong working relationship with our clients and will strive to be personally available to answer questions about receivable factoring.
During the discovery process, we aim to get a better understanding of your business needs, gain your trust, and determine if open account receivable factoring is a fit for you.
After you submit your credit application, Great Funds Factoring, LLC will review your credit application along with other documents required such as bank statements, master customer list, and financial statements.
Once the due diligence is completed Great Funds Factoring works on the approval process. Usually, the entire process both underwriting and approval takes one to two business days. When approved, we send you the proposal and all documents needed to set up your account in our portal.
As you send invoices to your customers, we verify them and advance your funds immediately to your account, while holding a small amount in reserve until your customers send payment.
Non-Recourse vs. Recourse Invoice Factoring
Great Funds Factoring provides recourse invoice factoring services, which keeps your fees low. Factoring companies that provide non-recourse invoice factoring charge much higher fees for their services because they assume the risk of non-payment.
After we purchase your invoices, Great Funds will work with your clients to ensure they pay their unpaid invoices in full. However, because we offer recourse factoring, the architecture company is responsible for paying us back if the clients do not.
Great Funds Factoring Helps Many Types of Architecture Businesses
Great Funds Factoring is ready to help your architecture firm today. We provide our services for a variety of architecture businesses, including the following:
- Residential Architects
- Commercial Architects
- Landscape Architects
- Interior Design Architects
- Urban Design Architects
- Green Design Architects
- Industrial Architects
Let us help move your business forward
Great Funds Factoring LLC
Improve Cash Flow For Your Architecture Firm With Invoice Financing
You deserve to be paid for your services, and it is not always in your company’s best interest to wait 30 to 90 days for customers to pay their invoices. Invoice factoring with Great Funds Factoring provides immediate cash flow to your architecture business so that it can continue to grow.
Let Great Funds Factoring do the waiting for you; fill out an online credit application today to be one step closer to getting the cash you need.