Working Capital Loans
A working capital loan is a type of short-term loan offered to finance day-to-day operations. The purpose of working capital loans is to provide working capital for short-term capital expenditures or to finance activities. This can be an effective way to respond to unforeseen opportunities by securing additional financing.
Source Funding Inc offers working capital loans exclusively for our factoring clients. Whether you are needing extra funds for insurance costs, repairs, rent, fuel, or to cover payroll expenses, we have you covered. Contact your account executive and let them know you are interested in a working capital loan and they will assist you with completing the credit application.
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Grow your business or pay for everyday expenses by paying invoices within 24 hours.
Our factoring services will give you the opportunity to take step forward!
Getting paid quickly is essential to business growth. Having available funds instead of waiting 30-90 days after a load gets sold can help make your business successful.
Ready to get your business GROW?
Our factoring services will give you the opportunity to take step forward!
Getting paid quickly is essential to business growth. Having available funds instead of waiting 30-90 days after a load gets sold can help make your business successful.
Check out some of the frequently asked questions!
It offers immediate cash flow to fuel your company's growth, effectively manage costs, and enhance operations.
After delivering your freight, simply upload your invoices to our client portal. Once processed, your funds will be deposited directly into your bank account. We also offer same-day billing upon request through your Account Executive!
No, you don't have to collect your payments. We have an experienced team of collection specialists dedicated to ensuring timely payments. This alleviates you from administrative work, allowing you to focus on more important matters.
One of the most attractive benefits of invoice factoring is the ability to secure funding as soon as the next day, or even on the same day. Instead of waiting 30, 60, or even 90 days to receive payment from your customers, factoring allows you to convert those invoices into cash deposited into your business bank account in as little as 24 hours.
Thanks to advances in technology, factoring companies have been able to target the needs of specific industries, making this financial tool more accessible than ever before. Oil and gas, trucking, staffing services, construction, business services, government contractors and manufacturing and distribution are just a few of the industries that greatly benefit from factoring and frequently use these services.
Some factoring companies require their clients to submit all of their customer’s invoices for factoring because they want to be sure to assume the least amount of risk possible; this requirement will vary from company to company. However, you may not want to factor every invoice, for one reason or another. You may only wish to factor your slower paying customers, for example.
A reputable factoring company as we are, will not only provide immediate capital, but also exceptional back-office support that saves you valuable time, money and resources.
One of the biggest advantages of invoice factoring over a traditional lending option is that the funding through factoring grows with your business. The amount available is only limited by the number of eligible invoices your business has to factor. So, as your business grows and builds a strong relationship with the factor, your business’ credit line also increases. Just make sure that the factor you choose has the experience and financial capacity to match your company’s growth.
