Invoice Factoring Company - For over 30 years, 1st PMF Bancorp has specialized in factoring invoices with thousands of companies successfully funded. As a leading invoice factoring company, PMF Bancorp specializes in assisting young and fast growing companies without the red tape of traditional banks.
Definition: Factoring is the purchase of an invoice at a discount in order to accelerate cash-flow and/or mitigate credit risks.
Invoice factoring companies have long served a vital role in financing small to medium sized companies that have often had difficulty in securing traditional bank loans. Companies with $1 to $30 million in annual sales are often perfect fits for an experienced factoring company. A factor can provide extra cash flow by converting a company’s accounts receivable into instant cash to purchase more inventory and/or meet growing payroll requirements. A company with invoices to factor should not jeopardize their credit by trying to match their customers payments to bills that need to be paid immediately.
In addition, many companies need their factoring company to have a global reach with the ability to finance trade, not to just offer standard invoice factoring services. With companies buying imported goods and selling abroad as well, there is a large need for the factoring companies to be able to support these type of trade financing transactions. PMF Bancorp has a full service international trade financing desk that provides its clients with everything from letters of credit to international SWIFT and guarantee services.
PMF Bancorp, not only specializes in invoice factoring and trade financing, but also other complimentary financial services that can help a company grow their sales safely. PMF provides invoice collections and management services as well as credit insurance for invoices. Credit insurance is a great tool that good factoring companies will have in their list of services. When used correctly, credit insurance can assist a company in growing its sales and reducing risks by eliminating the default risk due to financial stress and/or bankruptcy.
Invoice Factoring Company - We are dedicated to making the process simple with a quick turn around (within 24 hours in most cases). Our factoring rates are very competitive while also giving our clients the confidence to continue their growth because of our long history in the market and deep experience in factoring invoices in many industries.
PMF’s Factoring Service provides:
Competitive Prime Plus Bank Pricing
Competitive Advance Rates
Credit Insurance / Letters of Credit
Financing for Foreign and Domestic Invoices