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Factoring Can Expand Your Business Without Cash
Factoring is the business of purchasing and collecting accounts receivable (invoices or purchase orders).
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Businesses can meet cash flow and funding needs for just pennies on the dollar. For the amount equivalent to trade discount on an invoice, you can meet payroll and unexpected expenses.
-It is one of the oldest forms of financing available and has evolved into a popular modern financing method. We buy your future receivables at a discount. The difference between the two is the cost. -Today this traditional form of financing now costs just pennies on the dollar. It can cost you more not to factor… -Many Fortune 500 companies employ it to supplement their working capital needs. -No term contract is necessary. -No minimum number of invoices are required. -No credit or bad credit is not a problem. We base our decisions on the creditworthiness of your clients. -lRS problems, liens, or judgments will not disqualify you from using invoice purchasing as a financial tool. -Fund growth internally, without creating debt. -Meet payroll. -Hire more employees. -Expand facilities. -Become bankable. -Meet seasonal demands. -Regulate Cash Flow. -Take early pay discounts. -Take advantage of bulk discounts. -Extend terms to attract and accommodate larger clients, and more. In addition, the following benefits can help you cut costs even more. 1. Credit screening and collections services. 2. Decrease risks & overhead in these areas. 3. Maintaining aging reports. 4. Negotiating with suppliers to receive early pay discounts.
Besides factoring, there are other ways of funding businesses.
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Facts About This Traditional Financing Method
