Factoring, also known as Accounts Receivable Financing, is the purchase of accounts receivable invoices at a discount. Factoring is a quick and flexible form of financing which substantially improves your company's cash flow and lets your business grow at the same time.
At GrandSouth Bank, we can tailor a funding program to fit your needs at costs that are typically well below those charged by competing commercial finance firms. In addition, GrandSouth Bank has other credit and non credit services that can be offered to assist a company in the "transition" to more favorable conventional financing structures.
GrandSouth Bank offers funding for accounts receivable through asset based programs that are designed to meet each customer's unique needs. Funding can be offered through a "pooled collateral" structure that operates essentially like a line of credit or through more traditional advances on invoices.
For more information on how GrandSouth Bank can assist your business, please contact Doug Corriher, Vice President, at 864.527.7186.