Updated: Jun 21, 2019
Nobody likes to turn away a prospective customer but sometimes you know they just aren't a good fit for a bank loan.
Nobody likes to turn away a prospective customer but sometimes you just know they aren't a good fit for a bank loan. Wouldn't it be easier to turn those businesses away if you had a viable alternative for them? Factoring, for many businesses, can be that viable alternative.
In addition to giving bank turn-downs an alternative, referring businesses to invoice factoring decreases their frustration over not qualifying for a bank deal, makes it less likely they will continue to plead their case to you, and gives you a better chance of securing a deal with them later when they may be a better fit for a bank loan.
Factoring with Porter Capital is a pleasant experience. We treat our customers respectfully and that reflects favorably back on the bank that referred them. Toby Muller of Midwest Decals explains that he was referred to factoring by a banker friend and was pleasantly surprised:
"I had never thought about factoring but my financials couldn't withstand a traditional loan so a banker recommended factoring.
I found factoring helpful to keep cashflow steady. Our largest customer pays in 60 days but our vendors require 30 days. If we hadn't used factoring we would have lost that contract. Porter Capital helped us keep a very lucrative contract."
About Referring with Porter Capital
Banking professionals have been referring clients to Porter Capital for years. We offer credit lines up to $15,000,000 and we do it with flexibility and speed. Learn more about banker referrals here or fill out the form below to refer a deal or access a referral partner agreement.