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You as a business owner or top manager know what we mean. Cash flow problems can cripple growing businesses. Everyday operations suffer because all your efforts are concentrated on collecting money on current invoices. Sales can suffer…Company morale can suffer…Needed improvements are delayed or canceled.
Factoring your receivables provides for your company to have the cash it needs today rather than waiting over 30 days to receive payment from your client. Money provided by factoring your receivables can be used for whatever your company needs, such as:
• Pay Creditors
• Pay Payrolls
• Pay Taxes
• Take discounts on merchandise purchases
The money is cash without borrowing. Funds are available immediately upon presentation of invoices and backup documentation. You won’t need to go to the bank and re-negotiate a loan every time you need money. The amount of cash available is directly related to your company’s monthly sales volume. Bookkeeping is simplified and factoring your receivables eliminates you from being both the supplier and collector. Factoring your receivables will save you time and increase your ability to service more clients.
