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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.
- Cashing Speed
- Reliability
- 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.
| 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