Compare the factoring services available for freelancers! Speed, reliability, and fees?

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Introduction

For freelancers, sole proprietors, and small and medium-sized enterprises, cash flow-related issues, such as financing and financing, may be one of the most difficult issues.

In this article, we introduce factoring services that enable customers to purchase receivables such as invoices and cash them first.

What is Factoring Services?

Factoring services are “a service that enables accounts receivable to be purchased”. Receivables are claims, such as invoices, that you have promised to receive but have not yet received. When considering the cash flow of a business, there is a risk that a long deposit cycle will be fatal.

not a loan

Factoring service is not a loan because it is a model to purchase receivables, which are assets. Therefore, guarantors and collateral are not necessary.

Factoring Services Considerations, So where should factoring services be considered? There are three main items.

  1. Cashing Speed
  2. Reliability
  3. Commission

Cashing Speed

Needless to say, how long it takes to receive cash is a very important factor.

Reliability

Is it okay to use the factoring company? Reliability is a very important factor, whether the company is a suspicious company or whether it is financially sound.

Commission

Lastly, there is a handling charge. Since factoring is a service where you pay a fee and receive cash first, the amount of the fee deducted is very important.

FREENANCE

FREENANCE is a factoring service operated by GMO Creators Network Corporation, a group company of GMO, a company listed on the First Section of the Tokyo Stock Exchange. It can be said that the trust of the management company and the fact that you can receive cash in the shortest day are very easy to use.

same-day payment and substantial compensation

FREENANCE features same-day payment and generous freelance insurance services, including freenance coverage.

FREENANCE is covered in more detail in the following article.

請求書を現金化で即日受け取りできる!フリーランス・副業向けのファクタリングサービスFREENANCE(フリーナンス)

 

Service Name FREENANCE
Operation GMO Creators Network Inc.
Capital Stock 91.65 million JPY
Target sole proprietors and small and medium-sized enterprises
Cashing speed shortest immediate day
Fee 3%〜

 

Register for FREENANCE here

Cloud Factoring OLTA

OLTA is a cloud factoring service operated by OLTA Inc. “Although it is an unlisted company, its shareholders include renowned major banks such as MUTB, SMBC, Mizuho Bank, and SBI Sumishin Net Bank.”.

The biggest feature is the low fee!

The biggest feature of OLTA is its low handling fee. OLTA’s 2% fee is the lowest level of factoring services.

Service Name OLTA
Operation OLTA Inc
Capital Stock 2,434.66 million yen
Target Freelance, medium-sized enterprises
Cashing speed shortest immediate day
Fee 2%〜

Here is more detail.

PAY BRIDGE ADVERTISING INDUSTRY SPECIALIZATION

PAY BRIDGE is the factoring service focused advertising indestory. It is a service specialized in advertising agencies that purchase media first and provide it to advertisers.

Companies with more than 10 years of experience

The top management of the company is a 10 year old company. It is not cheap as a commission, but we are proud of our rich experience and high rate of purchase.

Service Name PAY BRIDGE
Operation Top Management Inc.
Capital Stock 50 million JPY
Target Freelance, medium-sized enterprises
Cashing speed shortest immediate day
Fee 5%〜

 

BeTRADING

BeTRADING is a factoring service with offices in Tokyo, Osaka and Fukuoka. Factoring services are available not only for white-collar workers but also for a wide range of industries including construction and transportation.

Service Name BeTRADING
Operation BeTRADING Inc.
Capital Stock 70 Million JPY
Target Freelance, medium-sized enterprises
Cashing speed shortest immediate day
Fee 2%〜

 

And finally,

You may want to consider using factoring services as a way to alleviate some of your cash flow concerns. U-TILLY introduces new work styles such as side jobs and freelance services.

Check out the full article below.

Introduction of useful services for side jobs, side jobs, and parallel work

 

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