What is your company’s Plan-B and does it cover cash flow gaps caused by slow-paying customers?
What would happen to your business if;
- A vendor demanded you pay COD (cash on delivery) and won’t extend terms
- Your Bank decides to reduces your credit line
- A client changes its policies from paying Net-10 to Net-45
If your company’s cash flow relies on everything happening perfectly, you have a disaster waiting to happen!
When the unexpected comes knocking you won’t have time to maneuver or look for other options. It’s a good idea to have a Plan-B, that way you won’t be caught off guard by events you can not control.
*Remember – you can’t make payroll or pay vendors with an IOU. So when the unexpected happens you need the ability to keep moving forward. Convert money owed to you from customers to immediate working capital, so you don’t have to worry about cash flow gaps and unexpected annoyances.
With Factoring you won’t need to chase customers each week for payments. The factoring company assists in collecting on-time receivables and increasing cash flow so you can focus on bringing in new customer accounts and the day-to-day business operations.
Factoring gives you access to professional credit checking tools so you can know if a potential new customer is a good candidate for extending terms to.
No more worrying about sudden interruptions, because your plan B provides you access to fast cash when you need it most!
It’s recommended that when choosing the best factoring company, you get a few offers. Factor Bid is a free small business resource that enables your business to Compare Invoice Finance Offers.. Free! Get the knowledge you need to get the best deal when factoring your accounts receivable invoices for immediate cash!