Oklahoma City Factoring | Oklahoma City Credit Card Processing
We are here to help small business, non profits & our communities.
Ask us how you can give back to your community by doing business with us...
Thank you for doing business in the Oklahoma City Area! We are working on a listing of Credit Card Processors in the Area (our "competition") to make sure that you the small business know your options.
If you know of an Oklahoma credit card processor, merchant service, merchant account or credit card equipment provider feel free to post them (or yourself)
For other factoring providers see the Factors Directory
We want what's best for you whether it's us or another provider
We are a small business and support other small businesses including card services providers (as long as they are straight with their customers. BBB membership not required although a low rating may. Just be honest
We truly love small businesses and our communities. Oklahoma City and the surrounding cities & towns have so much to offer and some rich history.
Yes we do credit card processing, invoice factoring and related services but our business is supporting and helping small businesses compete and grow.
Factoring like accepting a credit card (credit card processing) is simply an advance on funds owed to you. If you sell
to Bass Pro, Walmart or most others you realize just because you
delivered doesn't mean the money is in your account. No that will be
30 to 60 days.
During that time period your rent, utilities, insurance, payroll and all other expenses continue.
By using factoring (or accounts receivable finance) you can have that money now to help you not only meet those obligations but may also allow you to take advantage of other opportunities.
How much more business could you take on if your cash flow was in high gear?
Factoring has a long tradition as being a superior tool to improve cash flow and otherwise obtaining working capital.
Many of your fellow businesses in Oklahoma City and throughout Oklahoma have used factoring to improve their cash flow.
Although forms of invoice factoring may vary, factoring is generally not a loan, factoring is obtaining cash immediately for invoices not yet paid. Usually though a purchase and sale agreement.
You have undoubtedly seen various websites making claims of being the best, lowest cost or fastest source of factoring, credit card processing and such.
How can that be true?
At best only one can be the lowest card processor, factor etc. Only one of them is "the lowest" but which one can you trust?
Our advice is to get bids from various factors or brokers, ask fellow business people in a similar industry, your lender and your accountant their opinions.
Still, evaluate your advisors recommendations carefully. Just in case its a buddy referral rather than a substance referral. It's not uncommon for someone to say I use "xyz" because "they gave me the best rate" or "they're the best" when they really didn't investigate of validate what's really available.
"a wise man has many advisors"
This should give you a little better perspective of the industry, benefits, costs & shortcomings.
The decision is ultimately yours.
We've been running a long term experiment with a different kind of business model. One where we attempt to replace deceptive advertizing, manipulative sales tactics, caring about you only when it's best for our bottom line with something old.
For many years we have advised clients on how they can cut costs regardless of how adversely it affects our profits.
We to replace long term contracts with unfair terms, high fee's and expensive cancelation clauses with honest local service.
Although the mentality involved in this behavior is a puzzle, it seems that many of us like to be lied to and surprisingly very often pay extra to support those that do.
Whether its improving your cash flow by providing you with faster invoice payments or a superior credit card acceptance plan we are here to help.
We truly care about small business in the Oklahoma City area and are willing to prove it.
As you are probably aware, factoring is the process of exchanging the value of an invoice for immediate cash.
Very similar to accepting a credit card (credit card processing, merchant services) where a merchant gains a cash advance from the credit card company for goods sold.
IIn either case invoice factoring or card processing a small fee is charged for the service.
For more information just give us a call.
Many industries are able to make use of factoring as a tool to improve cash flow. Many business to business transactions can be factored.
If its a staffing firm or employment agency factoring can provide the money to pay staff on Friday and the factoring company can wait on the contracting company to pay for services.
A transportation or trucking company can be paid today on a freight bill sot that fuel and other expenses can be paid as needed. Again the factoring company will wait on the payment for a small fee.
Construction and Healthcare factoring are somewhat different though.
Construction factoring being advanced on progress payments to subcontractors and healthcare being advances on medical receivables from third parties such as insurance companies or Medicaid to doctors, medical facilities, hospitals etc.
Accepting credit cards through your merchant account is called credit card processing or merchant services.
In many cases the contracts and cost structure of merchant accounts is more complex than factoring.
Whether this is intentional or not these complexities in credit card processing can cause a great deal of confusion and lead to higher processing costs for the merchant.
Marketing pieces offering "Low fees" are common. Even to the point of advertizing below cost rates. This can mask a higher monthly cost.
As business owners we are all well aware that we have to meet a certain profit margin to sustain our businesses. Below cost is in our opinion a deception because the your actual monthly credit card processing costs will likely be higher than the card processor that quotes you honestly.
In any event, we are here to consult with you on your behalf. Not the banks...