Invoice factoring, also commonly referred to as factoring, is the sale of Accounts Receivable or invoices to a third party.
How it works.
- Your business provides a product or service to your customer and invoices that customer directly.
- The Southern Bank purchases that invoice from your business for cash today.
- The Southern Bank then receives payment from your customer 15, 30, to 45+ days out.
By selling your invoice and receiving cash today, you’re able to:
- Meet payroll
- Buy new inventory
- Expand your operations
- Take on new business
- Pay taxes
- Take advantage of supplier discounts
- Survive seasonality
Smooth out your cash flow and avoid cash crunches by taking advantage of The Southern Bank’s factoring solution.
The Southern Bank Company has expertise in factoring solutions for your business. Get Started with Funding for Your Business Today.