The Differences Between Recourse and Non-Recourse Factoring with Love's Financial
Love's Financial offers personalized options for whatever you need in a factoring partner. One of the steps we suggest for choosing a factoring company is knowing what's important to you. From rewards points, to discounts to customer service; Love's Financial has something for everyone. Non-recourse factoring and recourse factoring are options offered by Love's Financial. It's important to weigh the pros and cons to find out which one is right for your business.
When you choose recourse factoring you sell your invoices to a factor, in this case, Love's Financial. We buy the invoices from you for, at a discounted rate, and you can rely on our back office team to collect those invoice payments from your customers.
You will need to pay the factor back if there are any defaulted payments, but you also save money with a lower factoring fee. One of the perks of recourse factoring is it's often more affordable.
If you already have solid customers who pay you on time, recourse factoring with Love's Financial is a great option for you.
With a non-recourse factoring option there is less risk involved for you because Love's Financial takes all the risk of uncollected payments and invoices.
This is a good option for some because there's no risk of being responsible for unpaid invoices. However, the transaction fees are sometimes higher for this type of factoring.
No matter which type of factoring ends up working the best for you, Love's Financial is your trusted factoring partner on and off the road. Call 1-855-495-LOVES (1-855-495-5683) today and join the factoring company with options.