Factoring with a Bank

Your business is unique, so your financing solution should be too.  Unlike independent factoring companies, The Southern Bank is an FDIC regulated bank with a full suite of financial products and services that allows us to meet your company’s needs whatever they may be.

If you’re thinking about factoring, be sure to give us a call. There are a number of advantages to factoring with a bank as opposed to an independent financing company.

In addition to the confidence and comfort of working with a bank, The Southern Bank and its clients benefit from:

No Middle Man

With access to a direct source of funds, The Southern Bank is not exposed to the borrowing costs that most independent factoring companies pass through to clients. Factoring with a bank results in better rates and more money in our clients’ pockets.

No Hidden Fees

In addition to the standard rate schedule, many factoring companies apply transaction fees, lockbox fees, transfer fees, monthly minimums – all of which can add up. Know exactly what you’re paying with The Southern Bank’s simple, straightforward pricing structure.

No Float

Clients use factoring to accelerate their cash flow, not delay it. Most factoring companies hold onto your customers’ payments for three days as they wait for payment to clear. That’s three days of additional fees and three days of additional strain on your cash flow. Don’t wait for your money. Factoring with a bank allows you to access your money the day it’s received.

Best in Class Customer Service

In addition to money, bank-led factoring provides you credit and accounts receivable support. As your partner, The Southern Bank and our team understands that we are operating as an extension of your business. Responsive and professional, our team is ready to support your company’s goals.