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Factoring Offers Business Competitive Advantages:Read 12- BIG Pluses on how smart invoice factoring companies give you the edge.
1. Have cash on hand for emergencies: Expenses can arrive unexpectedly. Factoring allows you to access cash (in as little as 24-hours) to cover everything from operating expenses to payroll to taxes.
2. Minimize stress coming from overhead demands: Instead of stressing as your cash flow reserves dwindle, factor your accounts receivables and turn those net 30, 60 and 90s into usable cash in one to two days.
3. Maintain a positive relationship with your customers: Asking for payment can frustrating on both you and the customer. With factoring you can avoid this uncomfortable interaction since you are not obligated to collect on the invoices.
4. Faster access to cash than a loan: Loans take weeks to months to approve. They also require a business plan, a credit report and a cumbersome application. With factoring, the documentation is minimal and the financing can be immediate.
5. Use credit cards less: When cash-flow is tight we tend to pull out the plastic. Factoring gives you the same convenience of fast cash without the expense of interest rates that reduce your profit margins.
6. Keep your books in the black: When your business has adequate capital you're not taking loans. Loans that sit on the balance sheet can scare of investors, business partners and even potentially large clients.
7. Provide "terms" for customers without feeling the cash-crunch: Make it easy for your customer to order products with flexible payment terms. With factoring, you can offer terms without straining the cash resources of the company.
8. No limit on access to cash: Loans have limits. Factoring does not. The more you sell the more you can factor.
9. Get lower prices from your suppliers: Be able to negotiate better prices by offering up-front payment on orders. This could be a few percent which could be lower than the cost of factoring giving you an immediate positive net benefit.
10. You are not limited by your credit score: Most lenders require stellar credit to get any type of reasonable financing. Anything less and you're paying interest premiums. Invoice factoring uses your customer's credit score, not yours.
11. Raise your credit score: When you have cash you can pay your obligations on time. Paying your bills on time is the number one thing you can do to become more creditworthy.
12. Avoid paying late fees and Interest rates: How much of your profits gets wasted on paying your charge card or financing obligations late? Factoring gives you the cash to pay your bills on time.
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Small Business Invoice Factoring Company | Accounts Receivable Funding | Purchase Order Financing | Truck Factoring Companies | Factoring Companies Los Angeles LA, Las Vegas, San Francisco, Phoenix, Seattle | Invoice Factoring Rates | Working Capital FactoringHave cash on hand for emergencies | Minimize stress coming from overhead demands | Maintain a positive relationship with your customers
Faster access to cash than a loan | Use credit cards less | Keep your books in the black | Provide "terms" for customers without feeling the cash-crunch
No limit on access to cash Get lower prices from your suppliers | You are not limited by your credit score
Raise your credit score | Avoid paying late fees and Interest rates | Privacy Disclaimer