What is factoring?

Factoring is simply “quickpay.” It enables you to avoid sending your invoices to your customers who may take upwards of 60 days to pay. Instead Steelhead Finance would buy your invoices from you for a minimal fee and pay you within 24 hours. The invoices are then forwarded to your customer. We do the waiting so you don’t have to.

Why would a company want to factor invoices?

Many companies can’t afford to wait 30 or 60 days for payment. A strong cash flow is important and factoring provides the capacity to grow when other forms of financing may not be available. Factoring can allow you to access credit and collection services at a fraction of the price (Steelhead includes these services at no additional cost). Factoring services allow your business to be more competitive while improving your cash flow, but factoring also means suppliers are paid faster. Learn more about factoring by filling out this form and one of our factoring service specialists will get in touch with you.

How much does factoring cost?

Typically it’s just pennies on the dollar. Steelhead Finance will outline your options based on your business needs and what works best for your company. Our account managers will assist you along the way with any question or issues as your satisfaction is our priority.

Is factoring only for “troubled” companies?

Not at all. Many companies require a lot of cash. While working with banks and other traditional lenders can be troublesome, Steelhead Finance can provide you the ability to operate smoothly with a steady flow of cash.

What size business do we serve?

We serve all sizes and grow with you.

How long must I be in business?

No requirements. We look at experience, not longevity. Start-ups are always welcome.

Do I have to factor all my invoices?

No. At Steelhead Finance, you decide which customers you’d like to factor. As your customer base grows you can add new customers as you please.

How will I know the status of my factored invoices?

Our online account management system provides client reporting and real-time information. We pride ourselves in making sure our clients are fully informed on the status of their customers so the factoring process is completely clear.

How will my customers know where to send payment?

Each invoice will be stamped with payment instructions. We provide the stamp.

How do I receive the cash?

Your choice: wire transfer, ACH, check or Comcheck.

Why should I choose Steelhead Finance to factor my invoices?

All factoring companies are not the same. Steelhead Finance has been factoring since 1984. We understand the needs of businesses and the tools that help pave the way. We provide the most extensive credit checking to make sure you don’t do business with a company that won’t pay. Unlike most factoring companies we offer access to our full credit department over the phone and online. Our account managers are committed to serving you above and beyond the industry standards. They are dedicated to meeting your needs, expectations and to assist in managing credit decisions and A/R performance. For our clients who are transportation carriers, we offer a standout fuel card program to save you money on the road each month. Count on us to serve you and help your business grow.