Five Myths About SMB Invoice Financing, Debunked!

5 myths about invoice financing debunked:

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Myth: 1 – Expensive – “A rate of 1.2% per month equates to 18% annually. That’s a very high interest rate compared to what my bank will give me.”
Debunked – True, rates are around 1.2% per month. However, receivables financing can offer no origination fees, no prepayment fees or un-used line fees often seen with a traditional line of credit. There is also no commitment; you can finance as needed. While rates on a traditional loan may be lower, the terms and conditions of the loan may cost you more in the long run, including the waiting and time to get funds.
Invoice Financing is based on the creditworthiness of your customers, instead of your business’s credit. This means if you’re working with larger clients that are more established, factoring will enable you to extend terms to remain competitive amount your competitors.

Myth: 2 – Appearance – “A company that sells invoices is in trouble with traditional sources of credit, and needs alternatives lending to keep the doors open. This may show my customers that we have very slim margins and are not making a ton of profit off of the business relationship.”
Debunked – Invoice Financing grows with your business. Traditional lenders like banks tend to look at the past and have stringent requirements and paperwork to qualify for a commercial loan. Financing your receivables actually keeps up with growing sales volume by extending you larger amounts of upfront capital as your accounts receivables increase. Invoice factoring is fast and makes your company more flexible to meet the demands of larger customers.

Myth: 3  Customers Relations – “I have been doing business with customer-ABC for the past 4 years and don’t want to jeopardize our relationship by adding a 3rd party payment collector. A financing company will pester my customers for payment, which will damage the client relationship.”
Debunked – As business professionals your clients understand that when you’re factoring it’s because you’re extending terms so they can pay you at a later date. They’re essentially using your money to grow their business faster, so you may as well use the factor finance company’s money to grow your business faster.  Some factors will also stay out of the transaction all together, this type of option is very popular among transportation freight brokers.

Myth: 4 – Too Early for Credit – “Our new SMB business has little to no credit history, and as a result we can’t get financing from our local bank. We heard that Invoice Financing companies have the same credit requirements!”
Debunked – Invoice Financing companies base their decision using your customers payment and credit history, not yours. Your customer (the debtor) is the one responsible for pays the invoice, so factor finance companies are mostly interested in their creditworthiness overall.  Larger, Fortune 1000 companies and government entities are the best customers for a small business to factor finance their receivables from because there is plenty of information publicly available to check their payment and credit history, allowing a vendor to piggyback on their credit rating, while increasing their own business credit history more quickly.

Myth: 5 – Loss of Control – “All payments coming to my business are routed through a 3rd party. I lose control of my accounts with a factor finance company. Plus I get stuck in contracts that restrict business rather than helping.”
Debunked – True, payments need to be made by your customers directly to the financier’s account. This is done for security purposes; the invoice is collateral for the advanced funding, and your factor finance company collects from the customer when they pay. At the same time, not all Invoice Financing companies are created equal.
When factoring, only customers that you want to finance must make accounts payable to your factor finance company. Receivables from customers that you choose not to finance can still pay you directly in the agreed upon time frame, usually net-30 or longer. All factor finance companies are a little different. With some there is not long term contracts and you can sell the receivables you want, when you want, which works great for seasonal business and oversize orders. Having to deal with a delayed payment cycle can strain existing resources and add unnecessary stress to your business. Debunking the myths of invoice financing can bring working capital to your business quickly and open new opportunities for many B2B and B2G small businesses.

Ready To Start: – Make sure that you’re getting a few offers from competing factor finance companies before you begin. Visit www.factorbid.com and within an hour you’ll have competitive offers to earn your business an buy your accounts receivable invoices for immediate cash. Factor bid is fast and easy and only takes about 2 minutes to start. You’ll be contacted by a few of the top factor finance companies that specialize in your specific industry within the hour of completing your customer application. You’re under no obligation to factor. Check out factor bid and get the knowledge and leverage you need to get the best deal when factoring your accounts receivables for immediate cash flow!

On The Go – Download Factor App – for fast and easy invoice financing!

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Online Business Finance Marketplace – Increase your Business-Cash-Flow today!

Are you facing cash flow gaps in your small to mid-sized business? Turn your business assets (invoices) into immediate working capital. Get Cash for your invoices by factoring.

Factoring is a financial transaction and a type of debtor finance in which a business sells its accounts receivable (i.e., invoices) to a third party (called a factor) at a discount.  A business will sometimes factor its receivable assets to meet its present and immediate cash needs.

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Don’t wait 30+ days to receive payment, unlock cash that’s trapped in your accounts receivable invoices. Start factoring and get paid within 24 hours for invoices.

Get Started:

Go to Factor Bid – click the Get Started button and within the hour you’ll have factor finance companies competing for the opportunity to earn you business and provide you immediate working capital for your invoices!

On the Go:

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Factoring and your Canadian Accounts Receivables and U.S. Factors

Factoring your Canadian receivables. When dealing with a Canadian client a U.S. based factor must ask themselves what do I need to be concerned about when when buying Canadian receivables?

  • Taxes
  • Acceptable forms and form type
  • Additional licencing needed

DOCUMENTATION:

Material changes are rarely required when adapting a U.S. Factors documents to purchase Canadian receivables or take security on Canadian collateral.

Some adjustments are desirable to reflect differences in Canadian legislation and procedures, for example; Provisions that deal with the consequences of the seller becoming subject to the Bankruptcy Code should refer to the relevant Canadian bankruptcy and insolvency legislation and, since Canada has not adopted the ACH system, the factor should be given the ability to debit its client’s bank accounts by way of electronic transfers. Clauses should also be added to the factor’s standard forms to take into account the various issues described in the balance of this paper. All in all, neither the factor nor its seller should find that any of these changes raise significant business issues.

LICENSING:

It is important to appreciate the difference between – carrying on business in Canada on the one hand and – doing business with Canadians on the other. As long as a U.S. factor finance companies and its employees and agents do not carry on business on Canadian, but instead only deal with Canadian sellers and account debtors on a cross-border basis, through channels like phone and email.

BANKS:

This is of particularly import to U.S. banks since they are prohibited from carrying on business in Canada without complying with the licensing requirements of the Canadian Bank Act.

REGULATORY AUTHORITIES:

Canadian regulatory authorities have acknowledged that non-Canadian companies can purchase Canadian receivables, lend to Canadian borrowers and take security over Canadian assets without becoming subject to Canadian licensing requirements – unless they “cross over the state line” and carry out business in Canada.

TAXATION:

A U.S. factor will generally not become subject to Canadian
taxation on the income it earns from purchasing Canadian receivables so long as it does not; “carry out business in Canada” – NOTE: Simply purchasing Canadian receivables, or opening a Canadian bank account, should not in and of itself result in carrying out business in Canada.

With respect to licensing, the factor should not negotiate or sign business agreements in Canada. It is also generally important for the factor to avoid engaging Canadian based employees or agents, since their activities will be attributed to the factor. For this reason, if a factor engages a Canadian to provide leads to possible clients, the underlying agreement should reflect that the Canadian is an independent contractor who has no ability to bind or contract for the U.S. factor, and that the parties have neither a principal/agent nor an employer/employee relationship.

Additional flexibility regarding Canadian employees and agents is available to a factor that can take advantage of the Canada-U.S. Tax Treaty.

WITHHOLDING TAX:

Canada has almost eliminated withholding tax on most cross-border payments of interest between unrelated parties that act at arm’s length. U.S. factors can therefore purchase most interest and finance charge components of Canadian receivables.

PERFECTION, PRIORITY & ENFORCEMENT:

Other than Quebec, every province and territory of Canada has personal property security legislation that is modeled by Article 9 of the U.S. Uniform Commercial Code. The rules relating to perfection, priority and enforcement of purchases and security interests are therefore very similar to those found in the United States. While the rules are not perfectly identical – such as the need in Canada to search and file based on the location of the collateral or of the seller’s/debtor’s chief executive office, rather on the nature of the seller/debtor entity – these differences generally do not raise practical problems. And even the differences that do exist are starting to fade as various Canadian jurisdictions adopt additional aspects of the Article 9 regime.

The Canadian Federal government has a super-priority lien over the entirety of a tax payer’s property for – certain amounts the taxpayer withholds from its employees’ income but fails to remit to taxing authorities and certain types of unremitting sales tax. This lien type is not required to be registered. Factors should monitor compliance with these tax obligations – either with the client or the tax authorities – since the lien will generally rank ahead of a factor’s security interest on its client’s assets. Fortunately, this lien should not defeat the factor’s interest in receivables it purchases by way of a “true sale” without notice of the lien.

It is generally easier in Canada to obtain an enforceable guarantee from an obligatory corporate affiliate – the guarantor’s incorporating statute and articles should be reviewed but will rarely raise an issue. With respect to individual guarantors who reside in Alberta, their guarantees will be valid only if they complete a statutory form in the presence of a lawyer.

WHAT ABOUT QUEBEC:

Quebec’s laws are modeled on by Civil Code of France, and differ significantly from those of the U.S. and the rest of Canada. Perhaps the four most important distinctions for a U.S. factor are: (1) the purchase of a single receivable is perfected by giving notice to the account debtor (rather than by registration), (2) security over the seller’s other assets is created by “a mortgage or security held by a creditor on the property of a debtor without possession of it” under special language that should be added to the factoring agreement, (3) a standard form agreement with a Quebec counter party must be in French unless it contains a provision (which should be in both languages) in which the parties agree that the agreement must be in English only and (4) contracts with Quebec account debtors should be reviewed for provisions that prohibit their assignment, since Quebec legislation does not override anti-assignment clauses.

USURY:

Canada’s federal usury legislation is set at the relatively high rate of 60 percent – calculated in accordance with generally accepted actuarial practices and principles. In determining whether a contract rate is usurious, all related charges and expenses relating to an extension of credit will be taken into account, including interest, penalties, fees, commissions, costs and various administrative payments. A properly drafted agreement should provide that any contravention is unintended and that excess payments will be reimbursed or applied to other outstanding obligations.

INTEREST:

Canadian legislation requires interest to be at an “annual” rate (i.e., 12-percent yearly rather than 1-percent per month). If the provisions of a factoring agreement calculates interest on different basis – such as using a 360 day / year – a formula is commonly added to permit calculation of the equivalent annual rate.

CURRENCY:

U.S. factors purchasing Canadian receivables should consider how to manage currency risk inherent in using U.S. dollars to acquire the Canadian funds needed to purchase ‘Canadian dollar receivables’ – since it’s likely that the exchange rate prevailing when the factor obtains the Canadian funds will change by the time it receives Canadian dollars from the account debtor.

TIPS –  Among the options factors use: (1) entering into a currency hedge, (2) passing exchange risk to the seller through a clause in the factoring agreement and (3) funding a Canadian dollar bank account in a Canadian or U.S. bank, then using the account to purchase receivables and receive payments (so that exchange losses and gains don’t arise every time a receivable is collected on – but instead only when funds are eventually converted to U.S. currency)

COURT CURRENCY:

Canadian courts must render and award judgments in Canadian dollar. This may result in a currency exchange loss if a factor sues for amounts owing in another currency, such as U.S. dollars, the factor obtains a judgment for the equivalent Canadian dollar amount and/or the Canadian dollar weakens between the date of the judgment and the time of payment. The factoring agreement should therefore contain a provision that requires the seller to indemnify the factor for such losses.

CREDITOR-FRIENDLY:

A U.S. factor is able to bring legal proceedings in Canada. It will find Canadian courts relatively creditor-friendly for a number of reasons: (1) court costs are determined on the English “loser-pay” model, under which the unsuccessful party pays a portion of the prevailing party’s legal costs, (2) commercial matters are almost always decided by a judge without a jury (with or without a jury waiver in the factoring agreement), (3) punitive damages are unusual, and in any event generally much lower than in the U.S. (4) U.S. judgments are generally enforceable in a Canadian court so long as the defendant received proper notice of the action and an opportunity to defend.

GOVERNMENT OBLIGATION:

The obligations of certain Canadian governments – such as the Province of Ontario – are freely assignable (subject to the terms of the underlying agreement). However, receivables owing by certain other provinces or by the federal government may not be assigned without obtaining consent and following statutory procedures.
CANADIAN – U.S. FACTORING:
Factors in the U.S. have found that the Canadian legal, tax and regulatory rules are relatively favorable, not unfavorable and generally do not impede cross-border factoring of Canadian receivables.
BEST IS BEST:
It’s recommended that you get a few competitive offers from factors to buy your accounts receivable invoices. If you’re a Canadian Small to Mid-Sized Business looking to factor your accounts receivable invoices; visit www.FactorBid.com to get started finding the best U.S. Factor eager to earn your business today! If you’re not shopping your Canadian receivables you may not be getting the best deal available!
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Cash flow when you need it most, payment as soon as the next day!
#factoring (invoice finance)

Do you invoice customers for payment? Discover how in just minutes you can unlock money trapped in your invoices. Turn open invoices into immediate cash flow.  Fast | Easy | Secure www.factorbid.com

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If you don’t invoice customers for payment follow this link to see other types of small business financing offers!

Supply Chain Finance – Entrepreneurs start, run and grow your business

Weather you’re a tier 1 or tier 2 type vendor or a supplier company that sells goods or services to other businesses in the economic production chain, chances are you’ve experienced slow-pay in your company’s accounts receivables. But is this a problem for most operating businesses looking to grow their market share?

Proven Financial Resource

Invoice financing is used all over the world by companies large and small. Entrepreneurs unfamiliar with the idea of selling invoices at a discount to increase cash flow may be under an immediate assumption that a company selling their invoices is in trouble with traditional sources of credit and needs alternatives to stay afloat.

That’s not entirely true. Here’s why, invoice financing uses your company’s assets to access immediate cash. Invoices are considered assets because they’re money that your customers owe you for goods and services you’ve already delivered. Your credit is not even part of the lending decision when a factor finance company partners with your business. A factor is looking at the creditworthiness of your customers when deciding on investing in your business by buying your invoices for immediate cash.

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Flexible and Fast Access to Working Capital

Business like invoice financing because it’s flexible and grow with your business. You can access larger lines of funding as your business needs, or scale back and factor less during times when you don’t need more working capital.

Accessing cash tied up in receivables enables your business to keep up with growing sales volume and meet the demands of larger customers. Larger customers require longer time to pay and stretch out payments to 60 days or longer sometimes, leaving your business with substantial carrying costs.

Lower Company Liability and Increase Cash Flow

Redirect the responsibility of carrying and financing your customers by partnering with a factor finance company. A factor assumes the responsibility of your outstanding invoices; the liability that goes with potential non-payment of your receivables and the time it takes to collect money owed to your by your customers.

Let the factoring company finance your customers growth. Free up money owed to your company and put that money to work immediately. Waiting around to be paid is not a smart business practice. Factoring will help increase your working capital immediately so you can grow faster, take on more new customers, payoff higher interest rates or buy supplies at a discount price. As your profits grow, so will your bottom line. The cost of factoring becomes a cost of doing business and as long as you’re making more money at the end of the year and increasing market share within your industry then factoring is a smart business decision and you now can see why companies of all shapes and sizes are using it.

Stop wondering how your competitors are growing so quickly and start taking advantage of your accounts receivable assets. Get the cash you need to grow your business faster.

Recommended that you get a few Competitive Offers

It’s recommended that when selecting a factor finance partner you get a few offers from competing factors to earn your business and buy your invoices. Factor Bid is a free small business resource that enables you to compare invoices finance offers from competing factor finance companies in real-time. Visit Factor Bid, click the Get Started button and within the hour you’ll have competitive offers from the top factor finance companies eager to earn your business and buy your invoices for immediate cash.

Don’t wait 30,60 or even 90 days to be paid while your competitors push ahead and win more new customers, get paid within hours of invoicing your customers and use your working capital to stay competitive in your industry.

Business on the go Mobile Work force

If you’re business is on the go and you’re looking for the fastest and easiest way to connect with financing, download Factor App and within a few minutes you’ll be matched with the top finance companies competing to earn your business.

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Quick Guide to Invoice Factoring – Factoring enables you to turn the money customers owe you into working capital

Working Capital | Business Cash Flow

What is Invoice Factoring – Invoice factoring (also called accounts receivables financing and invoice discounting) is a smart business fiance tool that gives your business immediate access to monies your customers owe you, on the same day an invoice is generated, so that you don’t have to wait 15, 30, 60, 90 – days or longer -for customers payments.

Access to cash that’s tied up in your accounts receivable invoices enables you to reinvest working capital into your business more quickly.

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Benefits of Factoring Invoices:

  • Take on more new customers
  • Expand your business operations
  • Cover payroll and hire more new employees
  • Pay suppliers to receive a volume purchase discount
  • Pay off higher interest loans and equipment financing
  • Take on bigger orders more quickly
  • Cover day-to-day operating expenses

Having the ability to access immediate cash and increase working capital will help your business grow more quickly, keeping you competitive and relevant in your industry.

How The Factoring Process Works:

  1. Your business generates a customer invoice. Instead of waiting weeks or months for the customer to pay-
  2. Factor the invoice with your factor finance partner and get same day funding up to 98% of the total amount of the invoice, for a small fee – which could be as low as 1% of the amount of the invoice.
  3. Once your customer pays the full amount of the invoice, the amount held in reserve is also returned to you, minus the factoring fee.

Why Use Factor Financing For Your Growing Business?

Factoring enables you to turn the money customers owe you into working capital, that you can use for your business today. There is not need to wait weeks – months for the chance of customers to pay, instead free up working capital immediately.

More Working Capital Enables Your Business To:

  • Offer generous credit terms to your clients as a competitive advantage
  • Leverage purchasing power to negotiate discounts with suppliers and vendors
  • Improve your ability to meet day to day expenses
  • Take on new customers or fulfill larger orders
  • Reduce accounting -related costs
  • Reduce your companies financial risk from bad debt with non-recourse factoring

A factor (in a non-recourse factoring agreement with your company) assumes the credit risk for the factored invoices. If a customer is unable to pay for credit reasons, the factor will absorb the loss, not your business!

There is also recourse factoring agreement, which is less expensive, because your company assumes more risk. With recourse invoice factoring You may also be required to repurchase invoices that remain unpaid by your customers and cover your own legal or collection costs in collecting payment from non-paying customers.

Common Reasons Business Owners Use Factoring:

  • Slow-paying customers that are creating a cash flow crunch
  • Customer accounts with extended terms, stretching out payment due date
  • To offer longer payment terms for customers, to attract new customers and/or match what competitors are already doing
  • Need access to immediate working capital to take advantage of emerging business opportunities – like taking on bigger clients or fulfilling larger orders
  • Speed up cash flow to meet operating expenses
  • Expedite cash flow to take advantage of supplier vendor quick-pay discounts
  • Reinvest money tied up in receivables more quickly
  • Grow their business faster in order to increase their market share within their industry
  • Make a larger return on investment each year
  • Utilize the experience of the factor finance company to help organize and deploy a more efficient bookkeeping and collection cycle

If you’re ready to see how much more money your business can access every month by factoring your accounts receivable invoices, then simple click the Get Started button at our www.Factorbid.com website.

Factor bid quickly matches your business with factor finance companies that specialize in your industry and are eager to earn your business and buy your accounts receivable invoices for immediate cash.

At factor bid -you’ll receive a few competitive offers from factor finance companies. Review each offer and decide which offer is the best fit for your business.

Factor bid is fast, easy to use and secure. Spend a fraction of the time (locating the top factors) and receive the knowledge and leverage you need to negotiate the best financing deal for your company.

Factor bid is free for business owners and you’re under no obligation to factor. Find out what your financing options are within a few minutes at Factor Bid.

On The Go! – Download Factor App – to get started comparing offers!

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Canadian Distributor of a European Manufacturer Explore Invoice Financing to Avoid Cash Flow Shortage

Canadian distributors, U.S. distributors, etc.. working with European and foreign manufacturer can now access immediate funds for large orders.

The distributor’s products (Ground Screws) are used in construction to establish and secure a foundation in different terrain. As an alternative to concrete slab foundations, the screws allow quick and stable foundations to be installed where traditional solutions may not be ideal.  However, shipping the product from the Czech Republic meant that there was a considerable lag time between when payment to the manufacturer was due and when the distributor could collect from the purchaser.

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Traditional bank funding was not an option due to unusual hurdles such as international currency conversions, the innovative and non-traditional nature of the product and the involvement of somewhat risky construction projects.

Factor finance companies on the other hand are more flexible and are willing to structure a solution involving purchase order financing and factoring that will work well for the distributor, allowing them to create the cash needed to complete transactions for customers in both the US and Canada.
The challenges for the factor lay in working with multiple companies in different countries and funding while waiting a significant amount of time during transport. Once established though, a factor is able to fund and then manage all of the logistics and needs of each participant. A huge added benefit for all parties involved.
Financing solution like this allows particular distributor to capture business they would not otherwise be able to facilitate; while introducing innovative solutions to their customers for a more progressive growth cycle each quarter.
If you’re distribution company can benefit from out of the box problem solving like this, then use Factor bid to get a few competitive offers from the top factor finance companies and start taking on more new business right away.

Financing across different industries; Your business qualifies for immediate cash, see why!

At Factor Bid – we match business owners with finance companies that specialize in their industry. Not all finance companies are the same, and finding even one that specialize in your industry can be extremely frustrating and time consuming.

By getting competitive offers from the top finance companies that match your industry, your business has the opportunity to receive the best deal and get the most money upfront when seeking working business capital.

Factorbid’s financial database of lenders offers funding options suitable for a wide array of companies across many industries. Regardless of the industry your in, firms all have one thing in common, they require working capital to survive and almost always need access to funds immediately.

FLEXIBLE – FAST – CONFIDENTIAL AVAILABLE FINANCING PROGRAMS:

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Accounts Receivable Financing

Business Line of Credit

Doctor Loans

Working Capital Gross Sales Loans

Equipment Leasing and Financing

Franchise Financing

Merchant Cash Advance

Purchasing Order Financing

Small Business Loans

Traditional lending institutions, such as banks, are not the best source for businesses seeking loans under $1,000,000.00 dollars. Banks need to make a greater profit margin on the monies they lend, and the larger the loan the greater the profits. Banks also have tighter guidelines and longer approval times than alternative lenders.

Over half of small businesses that apply for loans are turned down by traditional lending channels like banks, either for lack of business history, high net revenue returns and/or creditworthiness. Once business owners discover there is a faster and easier way (called factoring) to acquire access to business cash flow, they jump at the opportunity to grow their business.

Business Financing Programs Increase Cash Flow To Cover Payroll, Grow Your Business Faster and Afford Day-To-Day Expenditures.

Accounts Receivable Financing – is the use of receivables as collateral to generate immediate capital. Also called Invoice Factoring, purchases a businesses accounts receivable invoices for cash and usually includes some type of credit management service and bookkeeping service too.

Small Business Loans – Get access to a variety of loan options including unsecured small business loans, not traditionally offered by banks. Loan approval is not based on profit/loss, past credit history or open tax liens.

Business Line of Credit – Unlike traditional lenders, our finance companies offer limited paperwork, and the loan criteria is much different that that of a bank. Loan approval is not based on personal credit histories and the approval process is fast and businesses only pay for what they use.

Equipment Leasing and Financing – Flexible repayment terms, typically 1- 5 years to repay and no vendor choice restrictions.

Purchase Order Financing – PO financing will enable your company to obtain cash that is advanced against impending purchase orders. This lending model helps business owners that need fast access to working capital to fulfill purchase orders.

Franchise Financing – If you need assistance in a business financing program for franchisees looking to expand or upgrade their existing franchises, then contact us for assistance in getting a few competitive offers.

Doctor Loans – Access specialized funding for medical practitioners like dentists, pharmaceutical professionals, veterinarians, chiropractors, optometrists, home health care professionals, primary care physicians, specialists and more.  Looking to purchase new equipment/technologies, expand or simply increase cash on hand to circumvent slow-pay insurance payouts, then contact us today to get the best deal from competing finance companies.

 

Hold my check.. I can’t live like that

Cash flow is king. You need immediate access to money to run your business successfully in today’s uber competitive business world.

Capital tied up in your accounts receivable invoices in bad for business. The simple answer is Factor Bid.

www.factorbid.com

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  1. Submit your invoices at Factor bid website
  2. Submit your invoices using Factor App
  3. Complete your custom online application

Factor bid is fast and secure. Get a few competitive offers to buy your open accounts receivable invoices for immediate cash!

When Factor Finance Companies Compete, YOU WIN!

Simple Benefits of Factoring Invoices

  • Increase cash on hand
  • Pay off debt, taxes, payroll tax and suppliers
  • Cover employee paychecks
  • Build your company credit faster
  • Bookkeeping assistance
  • Grow your business faster and stay competitive

ps. happy fathers day to all you hard working dads!!

Get a few competitive offers to get the best business financing deal

A few competitive offers means a lot for your business. Financing is competitive, if you know where to look.

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How do competitive offers help?

  1. Leverage – You get to listen to what each finance company has to offer to find out what your business options are. Use the information provided by different finance companies to negotiate the best rate, terms and most money for your accounts receivable invoices.
  2. Knowledge – Each finance company is different. The amount of money you can access within 24 hours depends on several different business variables. Most factors – one on one will not take the time to explain what all these key variables are, so getting a few offers from different finance companies teaches you a little more each time. When you know the variables in the funding equation, you can negotiate a good deal for your business financing.
  3. Best deal – When finance companies know they’re competing against each other, you’re going to get their best deal today! For example, when you’re using factor.bid to get a few competitive offers from the top companies, they know they have to be competitive, helpful and transparent or they won’t have a chance to win your business.

The goal is to provide a place (www.factorbid.com) where business owners like yourself can get a fair opportunity and a good deal when financing. If you’re trying to call, email or contact every finance company out there, it’s going to be a daunting and tedious task of sharing your business information over and over, answering the same questions hundreds of times and worst of all not knowing the finance companies you’re even talking to are dependable, secure and good businesses.

With factor bid, your experience is fast, easy and secure. We’ve done all the heavy lifting already. Once you submit your invoice or fill out your custom application form; you’re going to get a few offers from the top factor finance companies that are the best and specialize in your industry specifically. They know they’re competing for your business, so they’re offers have to be straight forward with the best funding available today or they won’t have a chance in winning your business.

If you want the most money and best deal when financing your accounts receivable invoices for immediate cash, then click the Factor.bid link at the top of the blog and visit our home page. From their you can click the “Let’s Get Started” button. Within the hour, you’ll have competitive offers to buy your invoices for fast cash.

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