Invoice factoring in Laurel converts your outstanding invoices into immediate working capital by selling them to a finance company at a discount, letting you access funds tied up in 30-, 60-, or 90-day payment terms without waiting for customers to pay.
Invoice factoring
Invoice factoring turns unpaid B2B or B2G invoices into cash within days. You sell the invoice to a factoring company, which advances most of the invoice value upfront and collects payment directly from your customer. When payment arrives, the funder releases the reserve minus its fee. This structure suits service contractors, distributors, and manufacturers who cannot afford to wait weeks for receivables while payroll, fuel, and materials demand immediate payment.
Laurel's mix of oil-field service companies and agricultural suppliers often invoice large clients on net-30 or net-60 terms. A trucking outfit serving the CHS refinery, for example, might invoice a fuel distributor and receive an advance the same week, keeping drivers paid and trucks fueled without pausing operations. Because factoring is not a loan, it adds no debt to your balance sheet and approval hinges on your customers' creditworthiness rather than your own credit score.
Invoice factoring
Steelhaven Funding is a commercial-loan broker, not a direct lender. We gather your invoice aging reports and customer payment history, then shop your profile across our network of factoring companies to find competitive advance rates and fee structures. We walk you through documentation, explain reserve percentages and recourse versus non-recourse options, and negotiate terms that align with your Laurel operation's seasonal swings and client mix.
Our office at 404 N 31st St in Billings serves Laurel and surrounding communities, so we understand the drive down Highway 212 and the importance of keeping cash flowing when refineries slow or harvest schedules shift. Call (406) 341-7733 to discuss whether invoice factoring fits your receivables profile, or explore other Billings-area financing options if a line of credit or working-capital term loan better matches your timeline.
Common questions
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