Louisiana factoring service providers buy your accounts receivable and advance you a percentage of the money. You receive the balance when the customer pays the invoice, minus a fee. If your business has grown so much that your accounts receivable are much larger than your cash on hand, now’s the time to look for factoring companies. Louisiana receivables factoring companies will buy your receivables and you’ll pocket much needed cash that you can then reinvest in your business.

You can also use a Louisiana invoice factoring company if you want to expand your business. Rather than taking a loan and going into debt, sell your invoices to Louisiana factoring companies to help your business grow. You can use the cash you receive to buy more inventory, hire more people or upgrade your equipment.

If you run a Louisiana-based business, consider the following when looking for Louisiana factoring:

1. Check out local Louisiana business factoring companies.

2. Find an online factoring company to handle your Louisiana finance factoring.

3. Select a nationwide factoring company that has factoring companies in Louisiana.

Action Steps
The best contacts and resources to help you get it done

Check local Louisiana factoring services to receive the personal touch

Use local factoring companies. Louisiana based companies will provide more personalized service for your Louisiana invoice factoring business than national companies.

I recommend: Trinity Real Solutions, LLC is a Louisiana-based factoring company that specializes in factoring to small and mid-size businesses. Although they help companies nationwide, they are located in Gonzales, LA. Crestmark Commercial Capital Lending, LLC has been in business since 1991, provides factoring to every size business and is located in Baton Rouge.

Look for reliable online factoring companies that can handle your Louisiana A/R factoring business

When looking at online factoring companies you need to look at their history and the ease of approval by the factoring company. Also, take into consideration the rates the company charges for handling your Louisiana accounts receivable (A/R) financing.

I recommend: Rexford Funding has account executives who have been in the finance business for more than 30 years. It is committed to bringing factoring to small businesses. Alliance One has account executives who have been in the finance business for more than 30 years. It specializes in factoring to small and mid-size businesses.

Find a national company that can handle your Louisiana receivables factoring

Even though local Louisiana factoring companies are likely to provide more personalized service, there are some excellent national companies that can handle factoring Louisiana businesses.

I recommend: Commercial Capital LLC has representatives in every state and offers factoring to small and mid-size businesses. It has rates as low as 1.5% and advances as high as 90%. ONAN Commercial Lending is a division of ONAN Capital Holdings, Inc and provides financing to small and medium sized businesses nationwide.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Getting a loan in Louisiana is difficult for new businesses. Factoring companies in Louisiana offer you an alternative since factoring is not a loan, and your customers' ability to pay is the basis of your approval.
• •  Make sure you understand the terms of the Louisiana factoring company that you decide to engage. The amount of the advance on your accounts receivable can vary from 70% to 97%, and the fees vary from 1% to 3% of your receivables.