Factoring Fast

FACTORING ACCOUNT RECEIVABLE

Arranging finances to fund business growth is not that much difficult as in the case of small businesses. Big organization can get additional cash or capital from banks but for small business it is really a Herculean task. When a business owner is in a dire need of capital and reeling under the pressure of unpaid accounts receivable, turning to factoring invoices can provide a solution. Factoring companies provide additional capital to cash starved business owners waiting for invoices to pay.

Instant cash in any business deal is not just desired, but it is also a requirement of a business owner as insufficient cash in hand can curb the business growth. With the accounts receivables factoring process, a factor company provides you invoice payment within 24 hours of receiving your invoices.

For small and medium sized businesses, factoring companies act as a cash flow solution since these companies buy your unpaid receivables and provide immediate cash. The business owner can utilize the funds provided by a factor company in other business development areas like:

Fund investment on other big projects
Accounts receivables management
Strategy management for new potential customers
Clear focus on other business aspects
Improved cash flow
No additional debt accumulation to the Balance Sheet

Similar to any bank or any financial institution, factoring companies also charge a fee for its services. There is a well-aligned functioning process of a factoring company wherein the factor examines your invoices and performs credit checks to make sure your customers have reasonable credit risk. The factoring company will pay you 80% to 99% of the accounts receivable immediately. This instant cash allows you to grow your business efficiently by utilizing the funding in other business areas. Once the factor company receives payment, you get the remaining amount not advanced, less the factoring fee.

Opting for a factoring service can be a smart business practice as it facilitates smooth cash flow to your business. The factoring company can also help with collections if desired.

How Would Your Business Benefit If All Your Customers Paid In One Day?

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INDUSTRIES THAT BENEFIT FROM USING FACTOR COMPANY:

  • Temporary Staffing Firms – Accounts Receivables Factoring can provide payroll solutions so you can place additional staff.
  • Trucking / Transportation – Factoring can provide fuel expense and payroll solutions to grow the fleet.
  • Manufacturing – Accounts Receivables Factoring can provide quick pay discounts on raw material and large account sales opportunity.
  • Distribution – Factoring speeds up the cash flow allowing you to take advantage of next day cash turn around.
  • Technical Consulting Firms – Accounts Receivables Factoring often allows for additional technical consultant placements without payroll concerns.
  • Cable and Wire Installation – Factoring allows for taking on additional projects and funding payroll
  • Companies Selling to Large Retailers – Accounts Receivables Factoring can fill the gap for large orders that require extended terms.

If your business could benefit from having cash 24 hours after producing the invoice, then you may want to take a closer look at factoring. One of our financial consultants can answer your questions and provide a free factoring quote at 877-876-2803.

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