If you own a cellular tower maintenance company, having a reliable client base is great for your business. However, many of these clients may have long payment terms, often exceeding 30 or 60 days, which can lead to unstable cash flow.
Invoice factoring for cell tower maintenance companies offers a solution similar to factoring for cable and telecommunications companies. This financing option bridges the gap between payment periods and is debt-free, unlike a bank loan and other forms of financing. Factoring is an ideal solution for managing slow-paying clients, especially if your business is growing and acquiring new customers.
What Is Cell Tower Factoring?
Cell tower maintenance factoring is a financial service that enables businesses to obtain necessary financing without resorting to traditional business loans. Through invoice factoring, you sell your outstanding invoices to a factoring company, allowing you to receive payment immediately upon completing a job, instead of waiting for customer payments. You receive a substantial portion of the invoice’s value upfront, typically between 80% and 90%. Once your clients pay the factoring company, you receive the remaining balance, minus a small fee.
Types of Cell Tower Maintenance Commonly Factored
- Structural inspections & repair
- Cleaning & adjusting antennas
- Repairing equipment
- Drone inspections
Maintaining healthy cash flow is one of the biggest challenges of any business. Let’s look at how you can boost your cash flow with telecom factoring.
5 Key Benefits of Cell Tower Factoring
There are several benefits to using cell tower maintenance factoring when you need working capital. There are many advantages of invoice factoring for cell tower maintenance companies. Here are a few of the main reasons we hear why cell tower companies prefer this type of alternative financing option.
- Easy to Qualify For: Banks scrutinize your credit history, making it difficult for smaller and newer businesses to qualify. However, factoring companies focus on your client’s credit rather than yours. The main requirement for invoice factoring is having credit worthy customers who have extended payment terms.
- Quickly Acquire Working Capital: Fast access to cash provides your business with a competitive edge, allowing for smooth operations. During months when clients pay slowly, you’ll have less stress about covering business expenses.
- Facilitates Business Growth: Factoring invoices grants you access to capital, enabling investments in resources necessary for growth. This could mean hiring additional employees or upgrading equipment.
- Assistance with Collections: Factoring reduces the burden of collections for your staff. When you factor an invoice, your clients pay the factoring company directly, eliminating the need for you to send reminders or make collection calls.
- Accelerate Growth: Cell tower factoring can be a powerful tool to secure financing and accelerate business growth. If your company needs quick access to working capital, consider invoice factoring.
Why Wait?
Start getting paid immediately
How Does Cell Tower Maintenance Factoring Work?
Invoice factoring for your cell maintenance company is one of the easiest ways to obtain the funding you need, which is why many companies use factoring. Here are the main steps involved.
- Apply Online. You will fill out the online application and submit the necessary documentation for your business. The factoring company will review your customers’ credit worthiness and set a credit limit.
- Complete Your Business. Provide your customers with cell tower maintenance as usual.
- Submit Invoices. Submit any invoices you want to factor with the factoring company.
- Get Paid in 24 Hours. You will receive 90% of the invoice’s value within 24 hours of verification.
- Payment Collection. Your clients will submit payment to the factoring company and the factoring company will manage this collection of payment.
- Complete Invoice Payment. The factoring company pays you the remainder of the invoice value with a small factoring fee deducted.
Why Work with Riviera Finance for Cell Tower Receivables?
Riviera Finance is a leader in invoice factoring, with more than 50 years of experience supporting companies like yours. Our seasoned team, along with our advanced online tools, makes managing your cash flow and accounts receivable straightforward.
Contact us online to get a free quote – our team moves quickly so that you can get the cash you need to keep growing your business.
Our Process
STEP 1
Apply
Complete form & become a Riviera client
STEP 2
Service
You deliver your products or services
STEP 3
Send
Send your invoices to Riviera Finance
