Best For
- B2B businesses waiting 30 to 90 days on invoices
- Trucking, staffing, wholesale and professional services
- Customers with strong payment histories
Turn Unpaid Invoices Into Working Capital
Sell unpaid B2B invoices to a factoring company for an advance on their value. You receive the balance, minus fees, when your customer pays.
Velo is not the factor.
Invoice Factoring
- Share Your Invoices(Done)
- The Factor Advances a Portion(Done)
- Receive the Balance(In progress)
Illustrative example.
Process3 steps
How It Works
Step 1: Share Your Invoices
Send the B2B invoices you want to sell and who owes them.
Step 2: The Factor Advances a Portion
A factoring company decides which invoices to buy and advances part of their value.
Step 3: Receive the Balance
When your customer pays the factor, you receive the balance, minus fees.
FitInvoice Factoring
Is It the Right Fit?
Consider Something Else If
- Most of your sales are to consumers or by card.Same-Day Business Funding
Before you apply
What We Look at, and What You'll Need
What We Look At
- You invoice other businesses or government agencies
- Unpaid invoices with clear payment terms
- Your customers' payment history matters more than your credit
- Final requirements are set by each factoring company
What You'll Need
- Last 4 months of business bank statements
- Driver's license or other government ID
- A voided business check
- For larger requests: a recent business tax return or financial statements
Requirements vary by product and are reviewed case by case. Meeting them doesn't guarantee approval.
CostDisclosures
Cost & Disclosures
In short
- A third-party factoring company decides and sets terms
- Advance rate and fees disclosed by the factor
- Velo may be paid by the factor
Invoice factoring is the sale of your business’s invoices to a third-party factoring company, which decides whether to purchase them and sets the advance rate and fees. Velo is not the factor and may receive compensation from it.
Questions, Answered
Booking a call or starting an application on this site doesn't involve a credit check. Our initial review uses a soft inquiry that doesn't affect your credit score. If you move forward with an offer, the lender or funder may obtain a report that results in a hard inquiry, and we'll tell you first.