Many companies struggle to reconcile open accounts receivable invoices – which is essentially money left on the table. An export factoring company such as Drake Finance gives businesses the financial capital needed to maintain operations and pursue transactions before existing customers pay in full.
What is Export Factoring?
In traditional export factoring company arrangements, a factor purchases receivables and handles the collections process on behalf of the seller in exchange for immediate cash flow.
As an EXIM-approved lender, we provide financing against the value of receivables. We offer clients up to 90% percent of a total invoice value, giving them the capital needed to move forward with business. The EXIM Bank insures the seller’s export receivable, enabling approved lenders to offer financial support. Understanding how a factoring company approaches financing will help you choose the appropriate lender for your needs.
Benefits of Export Factoring
Much can happen in the 45- to 90-day customer repayment window. Factoring services enable businesses to move forward with materials acquisition, export sales, and product/service diversification instead of waiting for repayment. Often, clients can access funds shortly after products reach their destinations. Use the advanced payment to focus on running and expanding the business. Tap into Drake Finance’s experienced collections team to ensure customer payment during the factoring process.
Begin the export factoring application process today using Drake Finance’s online application form. We provide international factoring services to U.S. businesses of all sizes.
