For companies faced with high cash needs and unique circumstances, The Southern Bank is pleased to offer customers Debt Factoring to accelerate cash conversion and improve financial health.
Debt Factoring, also referred to simply as factoring, is the process of selling your company’s accounts receivable or invoices for upfront cash to a factoring company like The Southern Bank. After purchasing your accounts receivable, The Southern Bank then collects payment from your customers when payment is remitted.
By factoring your receivables with The Southern Bank, you receive cash today that can then be used to pay down debt, invest in infrastructure, buy new inventory, meet payroll, pursue growth, etc.
Don’t get caught off guard, contact The Southern Bank today to better understand how we can help fund your business and provide the foundation you need to operate with confidence.