Invoice factoring is an innovative business financing solution that enables companies to convert unpaid invoices into immediate cash. In essence, it allows businesses to submit their sales invoices to a factor who will advance them a percentage of the value of their invoice, usually between 70-85%, within 24 hours. Once the customer pays, the factor will release the remainder, minus fees and any additional charges. The process provides businesses with quick access to working capital so they can invest in crucial growth activities, such as hiring new staff, upgrading equipment or expanding operations.