Renewable Energy Contractors often wait long periods of time on payment for their work. Invoice factoring is the solution for companies needing immediate cash. Factoring is a reliable source of cash for contractors and sub-contractors alike.
Since 1994, Scale Funding has provided invoice factoring for Renewable Energy contractors and sub-contractors. These companies use the cash from factoring to pay bills, meet payroll, purchase equipment, and more. Contact us for a free, no-obligation quote and consultation on how factoring can be the source of cash for your business.
Renewable energy contractors in need of a simple, reliable source of operating cash use accounts receivable financing from Scale Funding. Accounts receivable financing gives contractors an immediate advance on their outstanding invoices, instead of waiting weeks or months for payment.
Scale Funding is a leading accounts receivable financing company. Since 1994, Scale Funding has provided working capital and cash to companies in a wide range of industries, throughout the United States and Canada.
Contractors working on wind, solar or other renewable energy projects need cash to operate. Scale Funding offers accounts receivable financing and invoice factoring programs customized to fit the unique needs of contractors working to meet our countries future energy needs.
Accounts receivable financing, also known as invoice factoring, is based on the credit and payment history of a business’s customers, not that of the business itself. This makes it ideal for companies that might not qualify for traditional financing or those that don’t want to add new debt from bank loans or lines of credit.
Renewable energy contractors use accounts receivable financing instead of business loans or business line of credit for immediate cash. With banks, it takes months to get financing. Accounts receivable financing is an excellent alternative to banks, and the amount of available capital grows as the business grows.
Accounts receivable financing is easy. Here’s how it works.
When your customer pays Scale Funding, we pay you the remaining balance on the invoice, less a small fee.
Step 1 – Get a Quote
The initial step in securing a financing line is to speak with a Scale Funding representative. We’ll discuss your cash situation and needs, and we’ll offer a free, no-obligation consultation and quote for a financing line. Our simple and straightforward underwriting guidelines allow most customers to receive written quotes in 30 minutes or less. All quotes are customized for the specific needs of the client. We’ll work to make certain the line meets your requirements.
Step 2 – Submit Invoices and Related Documents
Once a financing line is agreed upon, we’ll schedule your first funding. We can accommodate most schedules and offer an expedited service for those in need of immediate cash. During the setup process, we’ll walk you through the agreement and discuss your invoices and any related materials.
Step 3 – Get Cash for Your Invoices
When the set-up process is complete, we fund you via ACH direct deposit or a wire transfer directly into your bank account. From this point forward, each time we receive your invoices, we’ll process and fund you the same day the invoices are received.