Position：home

FACTORING COMPANIES IN SEATTLE: Connect with 460,000+ Businesses

Seattle is a thriving business hub, home to over 460,000 businesses. If you're one of these businesses, you know that cash flow is vital for your success. When you're waiting on customers to pay their invoices, it can be hard to keep your business running smoothly. That's where factoring companies in Seattle come in.

Factoring is a financial service that allows businesses to sell their accounts receivable to a third party at a discount. This gives businesses immediate access to cash, which can be used to cover expenses, expand operations, or simply keep the lights on.

There are a number of factoring companies in Seattle, each with its own unique set of services and fees. It's important to shop around and compare quotes before choosing a factoring company.

factoring companies in seattle

Benefits of Factoring

FACTORING COMPANIES IN SEATTLE: Connect with 460,000+ Businesses

There are many benefits to factoring, including:

Immediate access to cash: Factoring can provide you with immediate access to cash, which can help you cover expenses, expand operations, or simply keep the lights on.
Improved cash flow: Factoring can help improve your cash flow by providing you with a steady stream of income. This can help you avoid late payments and penalties, and it can also give you the flexibility to take on new projects.
Reduced risk: Factoring can help reduce your risk of bad debt. When you factor your accounts receivable, you're transferring the risk of non-payment to the factoring company.
Increased efficiency: Factoring can help you increase your efficiency by eliminating the need to manage your accounts receivable. The factoring company will handle all of the invoicing and collections, freeing you up to focus on other aspects of your business.

How to Choose a Factoring Company

There are a number of factors to consider when choosing a factoring company, including:

Fees: Factoring companies typically charge a fee for their services. This fee is usually based on the size of your invoice and the creditworthiness of your customers.
Services: Factoring companies offer a variety of services, including invoice factoring, accounts receivable management, and credit protection. It's important to choose a factoring company that offers the services you need.
Reputation: It's important to choose a factoring company with a good reputation. You can read online reviews or talk to other businesses in your area to get feedback on different factoring companies.

Common Mistakes to Avoid

There are a few common mistakes to avoid when choosing a factoring company:

Benefits of Factoring

Not shopping around: It's important to shop around and compare quotes from different factoring companies before choosing one. This will help you get the best possible deal on your factoring services.
Signing a contract you don't understand: It's important to read and understand the factoring contract before you sign it. Make sure you know what the fees are, what services are included, and what your obligations are.
Not monitoring your account: Once you've signed a factoring contract, it's important to monitor your account regularly. This will help you ensure that the factoring company is meeting its obligations and that you're getting the most out of your factoring services.

Why Factoring Matters

Factoring can be a valuable financial tool for businesses of all sizes. If you're looking for a way to improve your cash flow, reduce your risk, and increase your efficiency, factoring may be the right solution for you.

FAQs

What is the average cost of factoring? The average cost of factoring is between 1% and 5% of the invoice amount.
How long does it take to get approved for factoring? The approval process typically takes 1-2 weeks.
What types of businesses can use factoring? Factoring can be used by businesses of all sizes and industries.
Is factoring a good option for my business? Factoring can be a good option for businesses that are experiencing cash flow problems, that have a high volume of accounts receivable, or that are in a high-risk industry.
How can I find a reputable factoring company? You can find a reputable factoring company by reading online reviews or talking to other businesses in your area.
What are the benefits of factoring? The benefits of factoring include immediate access to cash, improved cash flow, reduced risk, and increased efficiency.

Contact us today to learn more about factoring and how it can benefit your business.

Table 1: Top 10 Factoring Companies in Seattle

Rank	Company	Website
1	Triumph Business Capital	https://www.triumphbusinesscapital.com/
2	Accord Financial	https://www.accordfinancial.com/
3	Riviera Finance	https://www.rivierafinance.com/
4	Sterling Capital	https://www.sterlingcapital.com/
5	Peachtree Funding	https://www.peachtreefunding.com/
6	BlueVine	https://www.bluevine.com/
7	Fundbox	https://www.fundbox.com/
8	Kabbage	https://www.kabbage.com/
9	Lendio	https://www.lendio.com/
10	OnDeck	https://www.ondeck.com/

Table 2: Comparison of Factoring Fees

Company	Fee
Triumph Business Capital	1-5% of invoice amount
Accord Financial	1-4% of invoice amount
Riviera Finance	1-3% of invoice amount
Sterling Capital	1-2% of invoice amount
Peachtree Funding	1-3% of invoice amount
BlueVine	1-2% of invoice amount
Fundbox	1-4% of invoice amount
Kabbage	1-5% of invoice amount
Lendio	1-3% of invoice amount
OnDeck	1-4% of invoice amount

Table 3: Services Offered by Factoring Companies

Company	Services
Triumph Business Capital	Invoice factoring, accounts receivable management, credit protection
Accord Financial	Invoice factoring, accounts receivable management, supply chain financing
Riviera Finance	Invoice factoring, accounts receivable management, equipment financing
Sterling Capital	Invoice factoring, accounts receivable management, purchase order financing
Peachtree Funding	Invoice factoring, accounts receivable management, payroll funding
BlueVine	Invoice factoring, accounts receivable management, business loans
Fundbox	Invoice factoring, accounts receivable management, lines of credit
Kabbage	Invoice factoring, accounts receivable management, small business loans
Lendio	Invoice factoring, accounts receivable management, merchant cash advances
OnDeck	Invoice factoring, accounts receivable management, term loans

Table 4: Common Mistakes to Avoid When Choosing a Factoring Company

Mistake	How to Avoid
Not shopping around	Compare quotes from multiple factoring companies before choosing one.
Signing a contract you don't understand	Read and understand the factoring contract before you sign it.
Not monitoring your account	Monitor your account regularly to ensure that the factoring company is meeting its obligations.