Like any type of financing, accounts receivable factoring is a risk taken by the factoring company. In most cases, accounts receivable factoring is based on the creditworthiness of the underlying customer. Therefore, a factoring company does not provide financing for invoices that are made to an individual customer, instead they provide funding against invoices made …
Text Factoring your invoices is a great way to improve your cash flow. The ability to obtain immediate cash, instead of waiting 30 or 60 days for a customer to pay an invoice can help you grow your business faster, negotiate better terms with your suppliers, and make sure you are able to meet usual …
Every business requires cash to remain fully operational. This is a must, regardless of the size of the business. While most business owners have strategic plans in place for business expansion, marketing, and hiring talent, few of them have a well-thought out plan for obtaining the capital necessary to keep the doors open. Business Failure …
Developing a Strategic Funding Plan for Your Small Business Read More »
Staffing agencies need working capital to meet their weekly payroll obligations. In many cases, there is a gap between billing their clients, and paying the workers who are sent to job sites. Staffing agencies have obligations to those workers assigned to outside employers, but this is not where the expenses end. Office expenses including equipment, …
Why Staffing Agencies Should Know About Factoring Read More »
One of the most important documents you should have is a business financial plan. A carefully crafted, well-thought out plan can help you determine your current, and future cash needs. In addition, most businesses will be unable to borrow money, factor contracts, or establish lines of credit unless they can provide a financial plan to their lender. …
A Secured Business line of credit can provide you with capital, but, more importantly, they provide flexibility. Unlike a traditional loan, when you use a line of credit, you are in control of how the funds are spent. In addition, lines of credit typically carry a lower interest rate than credit cards, offer low monthly …
Some business owners are uncomfortable about the idea of factoring their invoices; however, they are more uncomfortable about taking on debt. This means when a company is facing a cash flow problem, wants to hire additional staff members, or needs material to fulfill a large order, they may not know where to turn. One of …
Once you have decided to use factoring for your cash-flow needs, one of the most important things you will have to do is communicate with your customers. Once you have turned over your invoices to a factoring company, your customers will receive a document called a Notice of Assignment indicating you have turned over the …
Explaining Your Decision to Use Factoring to Customers Read More »
Publicly traded banks recently hit record stock prices. The sudden increase in value was dubbed the “Trump Trade” because investors believe his policies will be positive for a growing economy and banks would—and should—be at the center supporting such an economy. Since the election in November, bank stocks have risen around 24% and continue to …
The Crisis Facing Community Banks and the Small Businesses Who Rely on Them Read More »
One of the many reasons business owners are unable to grow their business is because they have too much existing debt. This can mean they are unable to borrow the funds they need to expand. Whether expansion involves new equipment, hiring new employees, or upgrading facilities, strong cash flow, and lower debt makes a difference. Evaluate Your Current Debt The first step in getting your debt …
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