What Industries Qualify for Receivable Factoring Services?
Every industry is evaluated differently because no industry invoices the same method. Not all factoring companies accept every industry. As a rule of thumb, your business must sell to a good credit worthy account debtor (customer), a receivable or invoice that can be verified or has an acceptance (signed off) by the account debtor. Receivable factoring services is available to all industries that provide services, or deliver products to commercial accounts. The sale must be “final sale” with no contingencies or disputes. The service or product must be completely delivered in order for an invoice (receivable) to be eligible for funding.
