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NR Business Credit – Your Factoring Company/Companies of Choice

Turn Your Receivables Into Cash!

We are an invoice finance company with a combined staff having over 40 years experience in providing cash flow solutions to America’s small businesses.

Robert Beard, President, has often seen the stress and lost opportunities caused by a company’s inability to grow their business as they saw fit.

Not having sufficient working capital decreases a company’s ability to:

  • Generate additional profit
  • Enhance payables reputation
  • Diversify and expand their business
  • Obtain orders from high quality customers

Let NR Business Credit become your working capital provider of choice.

There are no fees or added costs whatsoever from NR Business Credit or our factoring associates when using our factoring services — our clients get the lowest possible factoring rates available in the market.

  • Get a Free, No-Obligation Consultation
  • Only One Application Package; Multiple FREE Factoring Proposals
  • Get Working Capital In 24 Hours
  • No Broker Fees or Mark-Ups – Deal Directly With Factoring Lenders

No more filling out numerous forms and applications and spending countless hours on the phone… NR Business Credit has been turning receivables into cash since 1998, with over $70,000,000 funded.

We get the job done for you.

How to Choose a Factoring Company

Factoring is a very useful and helpful financing technique which not only helps the nascent businesses to continue operation but is also effective for well-established businesses which don’t want to go in any sorts of debt. Invoice factoring is simply the name of arranging for an exchange with a factor company which would take the invoices and provide you the same amount minus their fees instantly. As a result, you end up getting hard money while the factor company is left to wait for a couple of month’s time till your client pays his due amount. The fees deducted is a fair exchange for the instant cash that the factor company provides and thus, it is for this very reason that companies which sell goods and services mostly use factoring companies instead of banks to get their hands on instant and immediate cash.

Choosing a factoring company is a difficult task and one should be very careful while choosing such a company. There are a lot of factors that must be taken care of while choosing factoring companies as there is a vast difference between terms and conditions of various companies. Some ask for a greater fee while others don’t pay most of the invoice amount as first payment. So, it’s important that you choose a company which suits your requirements. For instance, if you believe that even 50% of the total amount present in invoices should be enough as first payment then you should be looking at companies which ask for a very minimal fee. However, if you believe that you need a lot of instant money like somewhere around 90% of the total amount in invoice then you should care less about the fee and should look for companies which can offer such an amount upfront.

Remember that the best company would be the one which can offer you the best terms i.e. it does not charge a hefty fee and also provides 80-90% of the invoice amount in first go. However, you must understand that each company offers a quote after checking out the amount you are ready to sell in terms of invoices and the type of customers who are going to pay it up. If your customers have a good credit history and have a reputation of paying the owed amount on time with minimal fuss then you should get great quotes from most factoring companies as the factoring companies would have minimal fear of having to push for legal action or forcing the customer for payment in such a case. However, in case your customers don’t have a good credit history themselves then you may not find as many lucrative terms as you would have found in case you had invoices of customers who had a good credit history. Nonetheless, there still are companies who would be ready to deal with such customers but would only request a little bit more in return as their fees. The tip is to keep looking for all types of factoring companies and asking for as many quotes as possible and then choosing the company which offered the most cost-effective package for invoice factoring for you.

Another aspect that you should look out for while choosing accounts receivable factoring companies is the amount of stress they put upon a client during the payment collection procedure. Your clients mostly won’t like when you would involve a third party (the accounts receivable factor company) as they don’t like someone else to get in between the deals. However, most clients won’t mind unless the accounts receivable factoring companies don’t start pushing them to pay up before the deadline day. Thus, when looking for factoring companies, do also check (if possible) whether they put a lot of pressure on the customers who owe the money even before the deadline day and then choose the one which is very professional in its dealings.

However, even before considering these factors, you should firstly chalk up the names of the invoice factoring companies which work within your area. You can look up the internet, ask your colleagues and do some market research at first and then make a list of companies on the basis of their reputation and recommendations. Only after this, start analyzing the individual quotes of each company.

Always remember that you may end up having a long-term relation with a factoring company so you should do a lot of scrutiny at first so that you end up choosing the company with which you can establish a sound and long-term relationship. The company would be the one who would be rescuing your business and would most probably end up working like an accounts collection department for your business, so do consider all the factors mentioned above while choosing an accounts receivable factor company.

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What Are Customers Are Saying

We are a manufacturing company that makes specialized parts. NR Business Credit has come in during these tight economic times and we've been making it. Things are starting to turn around!

Sharon and Phil G., Armstice Plating

We are a small transportation carrier that is growing. With the rising fuel costs and delays in pay, NR Business Credit came in at just the right time to keep us rolling!

Sam W., ATCS Transport Logistics

Industries We Serve