Invoice financing, also know as factoring, helps companies get cash in exchange for their outstanding accounts receivable invoices.

Could your business benefit from an injection of new cash flow? Invoice financing, also know as factoring, helps companies get cash in exchange for their outstanding accounts receivable invoices.

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How does invoice factoring work?

There is no big secret to factor financing (selling your invoices for immediate cash). To access invoice financing a business simply needs to providing goods and/or services to other creditworthy businesses on terms (invoicing)

What does the typical Factor Financing cycle look like for your business?

  • Once you’ve completed your service or delivery of goods you’ll invoice customers as usual.
  • Depending on how much capital your business needs to access, will determine which customer invoices you decide to factor.
  • You’ll submit your open invoices to the factor along with any additional supporting docs you’ve agreed to provide for specific customers.
  • Within 24 hours of verification, the factor finance company will wire or ACH up to 85-95 percent of the gross invoice to your account.
  • In the normal course of business, check from your customers will continue to be payable to your company, however may be mailed to a specific mailing address that your factor finance company has set up. There are also other ways a factor will accept payments on your behalf – this is an important detail you need to discuss with your new factor finance partner.
  • Once the factor receives payment from your customer (in full) they will post it to your account. They then remove the amount that was initially advanced to you (to cover what they fronted you) plus their agreed upon fee.
  • You’ll receive daily comprehensive accounting information so you can review the factors advances and customer payments.
  • You’ll also have access to a suite of tools that can help you check the creditworthiness of potential new customers you’re considering working with.

Factoring your outstanding invoices is a symbiotic relationship for your company and the factor finance company. Factoring is not like a bank loan, where you need to put up personal equity or credit. The factors are using your receivables as collateral and the more your business grows the better you and your factor finance company does.

Also don’t forget that factoring your invoices and getting paid within 24 hours for your open invoices reduces your liability in collecting outstanding, late or non-payments from your customers. Make sure you talk to your factor finance company about non-recourse factoring vs recourse factoring before deciding which type of agreement is best for your business needs.

Now that you’re ready to start factoring – visit www.factor.bid to get a few offers from competing factor finance companies for your open invoices. When factors compete you get the best deal. Factor bid is free, enjoy!

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Get immediate quotes from experts in (invoice factoring) asset based accounts receivable financing.

So you’re in business and you have expenses, welcome to life, thanks for checking in. Did you know you can free-up money that’s been tied up in your accounts receivables? Yep, your receivables are considered an asset and factor finance companies are willing to buy them at a discount of their face value.

If you didn’t start your business to become the financial arm (Net 30-45 terms) of your customers, while their business’ thrive and grow quickly on your dime, then it’s time you discovered factoring your accounts receivable invoices for immediate cash.

[ To watch a quick YouTube video on how to get a few offers from competing factor finance companies to buy your open accounts receivable invoices Click Here ]

Low Risk Business Idea that is Applicable, even Thriving in 2016

Congratulations, you’re an entrepreneur. Now what!? You are passionate about your ideas and have created an amazing product and/or service to be proud of.  But the initial inspiration of going into business for yourself is quickly slowing, even being derailed by the challenges small businesses face managing their predictable finances.  Indeed, to be competitive and stand apart from the competition, having cash on hand to spend will allow you to keep your dream of owning your own business alive, but for how long? Positive cash flow during the critical initial phases of growth and exposure can be the difference between living your dream and/or dealing with a real-life nightmare!

*Fast, Simple  and Confidential – Business Financing (Factor Bid)

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Factor bid matches business owners with factor financiers looking to buy their open accounts receivable invoices. Take the hassle out of funding your business!

If you’ve ever thought about visiting your local bank to get a business loan.., borrower beware and continue reading…;

Simply put-

Many new business entrepreneurs are unable to secure a loan at their local bank due mainly to qualification criteria. Business loans are typically only available to established businesses with at least two years of banking history and substantial assets that are used as collateral against a new business loan.  Unfortunately most of us have to learn the hard way and after wasted efforts and time invested, many business owners will be denied the much needed funds to grow a healthy new business.

So the question now becomes: What can I do to acquire working capital (cash readily available for my business, today) without the hassle and lengthly amount of time invested that goes into taking out a traditional loan or even some other high risk option?

The answer to this question is Accounts Receivable Factoring.  To understand if your business is eligible for factoring, ask yourself this;

1.) For The Business Owner: What do we give away to our customer?

Whether it be specialty cupcakes or a consulting service- all businesses will sell either a product, service, or a combination of both to generate sales.   In layman’s terms “it takes money to make money!” 

2.) For The Business Owner: What did we get in return for our products/services from the customer?

Most of us are familiar with cash.  We like cash, because we can spend it how ever we need to in order to keep moving ahead in business. But there are other forms of payments a business may use to acquire payment in exchange for the sale of a product or service they provide.  One of these methods is called “invoicing” which offers you customers terms and enables them to pay for goods and/or services at a later date in time (typically called a Net30 or Net45, etc.  When invoicing occurs, the business owner creates an asset called an (accounts receivable) for the customer as a promissory note to pay at a later date. This form of payment is known as accounts receivables invoices and is categorized as an asset on the business balance sheet.

So now that we know we can unlock capital that’s being held hostage in our accounts receivable invoices, what’s the fastest and easiest way to find a factor finance company to buy my accounts receivable invoices for the best possible deal.

Glad you asked -Smart business owners trust Factor bid to get a few competitive offers from factor finance companies to buy their open accounts receivable invoices, for immediate cash! Factor bid is simple, easy to use and gets you the knowledge you need to negotiate the best deal when deciding which factor finance company is best for your company.

Factoring has so many benefits besides just lowering your risk in collecting on open and outstanding invoices.  For example; you’ll get years of experience when you partner with a factor finance company, to help streamline your accounts receivables process and even professional advice on how to grow your business more efficiently, while accessing tools that keep your business out of trouble and away from other high risk business partnerships. See a factoring company has your best interest in mind. Why you may ask. Well simple put, the more new customers you acquire, the more new invoices you sent and ultimately the more money you generate the better, both you and your factor finance partner do.

If a factor finance company can help you increase your bottom line, and the increase is greater than their small fee for accessing immediate cash flow for your business, then the relationship makes sense. For example, if you’re netting 10% a year in your business, and a factor ends up costing you 2-3% of your total sales annually, but the next year your business starts seeing a 14%-16% percent net, then you’re making more money than before you started factoring your invoices. Plus your business is becoming more efficient, and you’re getting more work done in less time thanks to some smart bookkeeping ideology your factor finance partner is helping to implement within your business practices.

The take-away from this helpful article is your accounts receivable invoices are considered an asset and should be recorded as an asset on your financial statements.  Why does this matter?  It matters because your accounts receivable invoices can be used as a tool to generate cash from third parties (factors) who are interested in purchasing the  open invoices.  

To get started learning more about invoice factoring (invoice finance) visit www.factor.bid and watch our 30 second video. If you’re not dead sure exactly how factor bid can help you get the best deal when financing your open invoices, then call us direct at (650) 924-3520 and one of our associates can help get you set up to receive competitive offers for your outstanding invoices. It takes about 2-3 minutes to submit an invoice and get the ball rolling on getting immediate cash for your receivables.

Factoring on the GO – Get Factor App for your Apple iPhone and Google Android Smartphones.

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We’re a new business and needed cash flow to fund new opportunities. Can we afford to grow.., Can we afford not to grow!

Visit www.factor.bid to get immediate cash for your open accounts receivable invoices!

factor finance,construction factoring,invoice finance,accounts receivable finance,factor bid,factor app,receivables finance,finance,asset based lendingAre you like us; have you ever been in the situation where your business needs money to cover day to day expenses, pay employees, buy supplies and/or compete for new business contracts?

In 1998, Ron and I decided to start our own business, R & J Construction.  We borrowed money from the bank to build our office and purchase supplies and equipment.  Although I would like to say our business was thriving, healthy, and self sustaining overnight, that was far from the truth.  We had smaller clients here and there, but not enough consistent workflow to allow Ron to quit his full-time job.  With the additional business expenses stacking on top of our personal ones, we spent our days living paycheck to paycheck and working 80 hours a week just to meet our minimum bills.

At the time, our kids were not old enough to be in school.  While I was at home with the children, I began to make phone calls in order to reach new customers.  When Ron came home from work, he visited client sites and worked on proposals and took jobs that could be completed on the weekends or through subcontractors.

Within a year, Ron was able to quit his 9 to 5 job and devote all his time and energy into making R & J Construction a success.  One of the challenges we faced was growth that we could not financially handle.  Our business was too young to have any real established credit, but old enough to begin handling some pretty big money projects.  Two big questions had to be answered:

  • Can we afford to grow?
  • Can we afford not to?

Obviously growth was in our best interest, we just weren’t getting our best “interest” from the bank!  We had tons of jobs but only received 20% down, enough to cover some of the material costs involved but definitely not the labor or other necessary business expenses. With quite a few outstanding accounts receivable invoices piling up each month, we had plenty of trips to make but no gas to get there.

Around this time, I had an acquaintance tell me that all those invoices we were waiting to receive payment for could be leveraged for immediate cash.  This was not a loan.  This was good news to us as we had already tapped out our bank.  I began doing some research and discovered that the factor finance companies were less interested in our credit, and more interested in the credit and financial stability of businesses who owed us money.

I spent a considerable amount of time doing my homework, asking the right questions, and finding a factor that was a good match for what we needed.  However, once I partnered with them, I significantly decreased the amount of time spent on processing all those accounts receivable invoices and calling late paying customers.

With Factor Bid, I can now get a few competitive offers from factors who specifically finance invoices within my industry.  It’s fast, easy, and provides the information and leverage necessary to make a quality decision and get the best deal when factor financing our accounts receivable invoices.

Not all factors are alike. Some only factor in niche industries and not all of them deal with smaller businesses like ours. Factor bid is great. All you have to do is submit an invoice using your Smartphone or computer and within minutes you’ll get competitive offers from factors that are eager to buy your accounts receivable invoices for immediate cash!

We love it! Try factor.bid -you’ll be glad you did!

Go Mobile with Factor App

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Factor bid gives you a few offers to buy your open invoices. Get competitive offers from the top factor finance companies and get paid as soon as today!

Factor.bid gives you a few offers to buy your open invoices. Get competitive offers from the top factor finance companies that specialize in your industry and get paid as soon as today!

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Turn Invoices Into CASH

Description

Factor bid gives you a few offers from factor finance companies competing to buy your outstanding invoices, freeing up your cash to purchase supplies, cover payroll, or expand your business. “A great option for small businesses that need cash.”

Eliminate the wait, get paid now

Factor bid eliminates the stress of slow paying customers. Waiting for payment on Net 30/60/90 terms is painful when you have a business to run.

A debt-free solution

Invoices represent revenue you’ve already earned. Why take a loan when you can unlock existing capital to get paid faster? Factor bid matches you with a few factor finance companies looking to buy your invoices for immediate cash, so you don’t have to wait.

Get paid in a snap

Snap a picture or upload a copy of your open invoice to begin. Within minutes you’ll have competitive offers to buy your A/R Invoices from a few of the top factor finance companies that specialize in factoring invoices in your industry.

Approvals as fast as 24 hours for your first advance

Once you choose the right factor finance company to partner with, you’ll be able to receive your first payment within 24 hours. Ongoing funding requests can be approved and released to your account in as fast as an hour.

Receive the funds directly to your bank account

Choose ACH as your payment option for 1-2 day delivery or choose wire for same day availability. Use the funds to manage and grow your business.

Thinking about factoring on the go?

Download Factor App for your Smartphone

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Accounts Receivable Invoice Finance for Service Providers. Service Provider Invoice Finance!

Service Provider Invoice Finance! Accounts Receivable Invoice Finance for Service Providers. Get a few offers from top factor finance companies when deciding on the best factor finance partner for your Service Provider Business. www.factor.bid

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Business Owner:

With 25 plus years of experience within the contractor community, specializing in Storm Region Rain Water Runoff infrastructure design, maintenance, and repairs, Jim Hinkley decided to venture out on his own. “I had many solid relationships with corporate and city engineers as well as project managers that is made sense that it was time to get out on my own. I used my 401k savings to purchase vehicles and specialized equipment that we needed to start.”

Like many new businesses, David relied on the most readily available funds he had access to. “We grew rapidly over our first few years and many of my customers helped support our much needed cash flow by paying us in a shorter amount of time than usual (provided I gave them a discount off our services for paying before the net 45 due date). This became stressful for us and our profit model started to suffer from discounting our services. Even when our customers would agree to pay early for the discount, it always seemed their receivables payment would reach us a day or so earlier than 45 days, it was nothing like a month early like we hoped. As our reputation grew and we expanded, the close relationships that were helping to support our cash flow were simply not there, plus we were tired of discounting our in-demand services. I wanted the business and had to find a solution to support my growing payroll.”

Jim’s banker recommended factor.bid website. “I was surprised how easy, accessible and cost effective factor financing was.” Factor bid got us a few offers on our outstanding accounts receivables, and we selected the factor financier that best fit our growing needs. It’s really been great, had I of know about factoring 2 and a half years ago, we could of quit discounting our services and made a lot more profit! In addition to the immediate funds we got for our open invoices to cover payroll on time, I also benefited from comprehensive professional reporting; credit monitoring and best of all peace of mind.”

A SMART BUSINESS FINANCE TOOL CALLED FACTORING

It’s easy for any small business service provider to get in over their head in todays economy. In the service provider industry, a company can grow very quickly by word of mouth. Solid business relationships build up when you’re starting up help drive new customers and referrals. However, after some time, those relationships tend to cool as customers get into the habit of regarding you as just another service provider.

You go from being everyones best friend, when you’re a new business to eventually being that company doing a professional job in a professional manner. Customers that use to make sure they paid you before the invoice date or even weekly, soon start to roll you into their accounts payable cycle of net 30, 45 or 60. Waiting to be paid for that amount of time can create a financial strain on your day-to-day business operations.

You can’t be upset with your customers, for following traditional accounts payable methods. What you can do is simply take advantage of invoice financing within your business. To be able to access immediate cash for your outstanding invoices, plus relieve your company’s liability in collecting the funds on-time or before the agreed upon due date.

Your new factor finance partner is going to become part of your back office for accounts receivable. They have the proven experience and team of business professionals in house that will help your business operate more professionally and become more profitable quickly. It’s in the best interest of the factor finance company for your company to be more profitable, they’re going to do everything they can to help you check on prospective new customer deals, collect efficiently from good standing long-time customers and make sure you have the cash on hand you need to increase your foot print within your industry.

To find the best factor finance company that services your industry, and get a few offers from those factor finance companies, make sure and do what other small-medium sized business owners have already discovered; Factor.bid -where factors compete for the opportunity to buy your outstanding accounts receivable invoices for immediate cash!

CASH FLOW SOLUTION YOUR BUSINESS CAN COUNT ON

Factor finance is more about your customers credit and payment history, not yours. Factor finance is based off of the assets your business in generating every week, called accounts receivable invoices.

As a service provider, your clients count on your services to make their lives better. In exchange, your customers will eventually pay their invoices. As a growing business, you also need a finance partner that makes your life better. An invoice finance provider (factor) provides you with predictable cash flow so you can cover business expenditures, payroll and new business opportunities.

Factors don’t run your business credit score and won’t make you wait days for an invoice finance decision / offer. Get the cash you need to make payroll, purchase additional equipment and expand your business to stay competitive in your local area and industry.

TO GET A FEW OFFERS FROM THE TOP FACTORS FINANCIERS IN YOUR INDUSTRY

Download Factor App -and within minutes you’ll have competitive offers to buy your invoices for immediate cash!

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What Factor Finance IS, and IS NOT.

What Factor Financing IS and IS NOT (accounts receivable invoice financing)

Factor Financing is a financial transaction where businesses sell open accounts receivable invoices to Factor Financiers at a discount.  Your open accounts receivable invoice is the asset which factor financing companies want to leverage to support your immediate cash needs.  This type of financing provides an easy and flexible way for business to get immediate cash to grow their companies, pay employees, purchase new materials, and cover operational costs.

There are three important players in this type of transaction.  Player 1:  The factor financier who purchases the open accounts receivable invoice.  Player 2:  The business who sells the open accounts receivable invoice.  Player 3:  The debtor who has the financial liability to fulfill and pay the invoice in full.

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Does Your Business Qualify as a Good Factor Finance Candidate?

Businesses often have multiple outstanding accounts receivable invoices each month. Each invoice represents work that has been completed but payment has not yet been received.  Two scenarios present themselves that can hinder the operations and growth of any company:

  • Scenario 1:  Your business receives a down payment for work to commence.  This deposit usually covers some of the material cost and man hours involved, but not all of it.  Your company must take on the financial liability for the remaining material, labor hours, and operational costs incurred by your company during the duration of the project.  The job is completed and the client is provided with a bill for the outstanding balance.  This creates an open (or outstanding) accounts receivable invoice sitting on your desk waiting for the check to come in the mail.  The accounts receivable invoice remains in an open or outstanding status until the money is received.
  • Scenario 2:  Your company has a product or service that is provided same day. However, the customer has a certain amount of time to pay for the product or service AFTER they have received it.  Some customers have a great track record for paying right away.  Other clients, however, take 30, 60, or up to 90 days to pay.  Worse case scenario, they do not pay at all.  Your company now has to decide on the appropriate course of action for late or no payment clients.  This can be a daunting task and is not to be taken lightly.  You do not want to lose a steady client who pays — but always late.  However, you need to set the precedence, outlining that late payments are not favorable and any such type of activity should be met with late payment stipulations, like additional financial compensation for your business.  For clients who have not paid, it is easy to decide not to contract with them in the future.  At the end of the business day, there is still the issue of that open accounts receivable invoice sitting on your desk that needs paid!  Small claims court is costly and the time it takes for you to file a claim, pay the fee, provide the proof of service/terms, and take a day off of work to go to a courthouse–just might not be worth it. Even if you do win a judgement in small claims court, your not out of the woods yet, you still need to find a way to collect on the judgement, which usually cost you more money to hire a representative to try and set up some type of garnishment and ongoing fee collection from your winning judgement. 

If you can identify with either of these scenarios, whether on an ongoing basis or every so often, Factor Financing is a great solution, and can help protect your business from encountering these type of financial burdens, plus help in collecting money owed to your business is paid in a timely and consistent manner.

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SHOW ME THE MONEY!!!!

You have to love the simplicity and directness of Jerry Maguire, “SHOW ME THE MONEY!” As a business, you were created to provide an exceptional product or service that fills the needs and/or wants of your customers.  We know you would love to do it for free if you could, for the betterment of humanity, but the simple fact of the matter is:  you have kids to feed, bills to pay, and a roof you need over your head.  This is the same for your business.

You have employees that are counting on you for their paychecks.  They have bills to pay. Your staff wants you to be successful, healthy, and grow so they can reap the benefits of a steady job and income.  The last thing you want to happen is to run dry of funds to pay the electric bill; incur layoffs, and stagnate in the market.

When you have funds locked up in outstanding open accounts receivable invoices, that is untouchable money that you have already earned.  You provided the product/service and have not reaped the benefit from it yet.  If you were able to have all that CASH in hand, SAME DAY, what would that look like for your company?  WE KNOW YOU COULD COVER:

  • Day-to-day business expenses
  • Payroll
  • Hire new employees
  • Buy supplies and equipment
  • Reduce liability
  • Secure new customer contracts and more!

So now when we say “Show me the money” you know with the help of a factor finance company, this is entirely possible. Your invoices can get you paid today! It’s recommended that when choosing the top factor that is right for your company, you visit Factor.bid and submit an invoice to get the ball rolling. At Factor bid factor finance companies compete to buy your open accounts receivable invoices, so you get the best offers when factoring your receivables for immediate cash.

GO TO FACTOR BID TO GET A FEW ACCOUNTS RECEIVABLE INVOICE OFFERS

Go to http://factor.bid to upload an open accounts receivable invoice.  Within the hour, you will receive a few phone calls from factor finance companies with a few account receivable invoice offers.  Factor finance companies will compete for the opportunity to earn your business. And you better believe that when they know you’re using Factor.bid to sell your invoices, and they’re competing against other Top Factor Finance Companies right now – they’re going to give you the very best offer available today!  

We Made It Even EASIER To Get Accounts Receivable Invoice Offers

On the go, use your Smartphone to get Factor App – Download FactorApp for your google android and/or apple app store account; Snap a picture or upload a copy of your open accounts receivable invoice, and within no time at all you’ll have offers from the top factor finance companies – eager to help your business grow and become more successful.  It’s THAT EASY!

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Accounts Receivable Invoice Financing for Trucking Companies. Trucking Invoice Finance!

FACTOR FINANCING FOR TRUCKING COMPANIES:

According to the American Trucking Association (ATA), 70% of freight tonnage in the United States is moved by the trucking industry.  Without the trucking industry, products would not be delivered, shelves would not be stocked, and basic necessities would be scarcely available, if available at all.  Let’s put the magnitude of what the trucking industry does into perspective.  “To move 9.2 billion tons of freight annually requires nearly 3 million heavy-duty Class 8 trucks and over 3 million truck drivers.  It also takes over 37 billion gallons of diesel fuel to move all of that freight (ATA).”

What happens after 9.2 billion tons of freight are delivered?  What happens after 3 million heavy-duty Class 8 trucks hit the road, each manned by a driver?  What happens after 37 BILLION gallons of diesel fuel is pumped?  Billions of outstanding Accounts Receivable Invoices sit unpaid in a cab or on a desk, while the next order on the list still has to be delivered.

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While your open accounts receivable invoices are sitting unpaid, your company still has to function and stay competitive.  You still have to fund those deliveries, and all associated costs.  With Factor Bid, you do not have to pay all those upfront costs anymore.

PARTNERING WITH A FACTOR FINANCE COMPANY:

Did you know your open accounts receivable invoices are worth money?  Do you know your open accounts receivable invoices are worth money NOW?  Factor Financiers know that you cannot afford to wait 30, 60, or even 90 days to get paid.  You have to buy fuel, cover repairs, and occasionally even purchase new tires.  Your company might have to buy a new truck or hire more drivers.  Factor Financiers buy your open accounts receivable invoices at a discount and get you CASH within 24 hours!  That’s right!  You can stay on the road and still do what you do best, providing the best and most needed service that drives our growing U.S. economy everyday.

Why wait and get paid for 30, 60, or 90 days when you can have cash in hand today?  Keep your tires on the road while continuing to grow your business efficiently with predictable cash flow every month.

GET A FEW OFFERS FROM THE TOP RECOMMENDED FACTORS TO BUY YOUR ACCOUNTS RECEIVABLE INVOICE AS SOON AS TODAY!

Using your smartphone:  Simply download Factor App onto your smartphone and snap a picture of your outstanding accounts receivable invoice.  Within minutes, up to three Factor Finance companies will be calling you with their best offers so you can get paid within 24 hours!  From your computer, you can also visit http://factor.bid and upload your open accounts receivable invoice pdf.

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When your business partners with a factor to finance your accounts receivables, your customers are most likely already familiar with factor financing.

Factor finance has been around for thousands of years! When you partner with a factor to finance your receivables, your customers are most likely already familiar with factor financing.

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Invoice factoring creates capital on invoices already billed or outstanding invoices. Financing your receivable invoices increases your immediate cash flow and can help with covering day-to-day expenditures like, fuel, maintenance, payroll, purchasing of supplies and even investments to keep your business competitive in your industry.

With factor invoice financing your business will have predictable cash flow to purchase additional inventory, maintain employee costs and even earn vendor discounts. Factoring can be a short term or long term solution for assisting business growth. Don’t turn down new customers and business growth because you’re afraid you may not have enough cash on hand to pay the bills.

Invoice factoring creates capital on invoices already billed. You’re not borrowing money (like with a bank loan) that you haven’t earned yet. When you inform your customers you are partnering with a firm to handle your accounts receivables, the customer is most likely already familiar with factoring and treat it as normal course of business.

If you’re tired of waiting 30-90 days to get paid, then use Factor.bid to submit an invoice and let the top factors compete to earn your business and buy your outstanding open invoices for immediate cash!

Don’t make factoring harder than it is. Use Factor bid to help you get the leverage you need to negotiate the best deal when factoring!

Download Factor App for your mobile devices and find the top factor in your industry for free!

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Why Businesses use Factor.bid to get the best deal when Factoring!

Business owners that want the best deal when Factoring their open accounts receivable invoices use Factor.bid

Why?

Because when Factors compete to buy your open invoices, you get the best deal when factoring!

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ADVANCE:

A Factor finance company will go as high as 95% of the face value of an invoice. For example, if your invoice is worth $5,000.00 dollars, and the facility reflects a 90% advance, the client will receive $4,500.00 dollars from the Factor finance company upon agreeing to sell the receivable invoice.

ESCROW:

Upon receipt of the 90% advance, the remaining 10% will remain in escrow pending the payment of the receivable by the debtor (your client/customer). The balance remains unused until the invoice is closed.

FEE:

The fee charged on any particular invoice depends on a few key factors. For example, your industry, the payers credit (your client), level of security, risk, A/R turnover, time to pay, etc. Each fee structure is individually established to maximize specific customer benefits and needs. The fee is deducted from the funds held in escrow, once your client pays the invoice in full.

RESERVE:

Once a receivable has been paid the the fee is deducted by the Factor finance company from the escrow account, the remaining balance is placed into a rebate account called a Reserve. The reserve should be released to you at your request or as agreed per your agreement with the Factor finance company.

Why use Factor Bid to find the right Factor for Invoice Financing? 

RATES:

Every Factor has a different fee structure. Depending on which industry they specialize in and how cheap they’ve secured their money; in order to provide you a loan for your invoice financing.

Some Factors offer flat fees and others offer daily rates, so knowing how your customers pay and having the option to choose which type of fee structure is right for you is going to save you money.

Factor.bid is going to shop your invoice to the best factors in the industry that can finance your industry invoice type and are looking to finance invoices today. You’ll then get a few calls from the top factors with competitive offers to buy your invoices.

FLEXIBILITY:

Let’s start with billing procedures. All invoices can be submitted electronically at your computer, or by using Factor App on your smartphones. Most Factors can ACH your money the same day, but how they verify your invoices, pick-up orders and/or Bill Of Lading can all be different. The benefits of receiving a few quotes and competitive offers to buy your open invoices is you get to decide which Factor has the most flexibility and is willing to go the extra mile to earn your business.

PROFESSIONALISM:

You’re going to be working with customer relationship managers, collection agents and maybe even the owner at some point. Finding a Factor that treats you how you want your customers to be treated is the most important thing. Not all factors are the same. Some will be more patient with you and will understand what you’re looking for and others may not. So getting a few solid offers when you’re going into business with someone, is a good thing and may save you a ton of headaches down the line.

TRANSPARENCY:

The highest levels of transparency and accountability are important in building a long lasting partnership with your new lending arm (Factor). Some Factors provide 24-hour access to all your pertinent account information, collection notes, and reserve statements that outline the details of each and every transaction taking place on your account.

Some Factors offer a dedicated account manager that can be reached during normal office hours and will help with back office support. For example, sending Fax, emails and/or even calling customers to remind them about an agreed upon payment and the date payment is due.

Finding the right Factor for your business should not be hard. Factor bid makes it easy for you to get the conversation started by submitting an invoice. From there, all you need to do is relax and select one of the Factors that best fits your business needs and goals. Make the Factors work to earn your business and get the best deal when factoring your open accounts receivable invoices.

REPUTATION:

If you’re searching for a Factor to help finance your business and keep you competitive in your industry, how do you know which one is good? Just because someone shows up at the top of a search on your favorite search engine, doesn’t necessarily mean they’re the right finance partner for you. Wouldn’t you much rather have a few of the TOP Factors, that have been pre-vetted by our Customer Service Team and recommended by other hard working business owners like yourself? If you said yes, then you’re on the right track to getting the best deal when factoring your open receivable invoices for immediate cash flow.

Putting in less or the same amount of effort and getting multiple offers for your open accounts receivable invoices is the smart way to choose the Factor finance company that is right for you. Choose the Factor that best fits your needs today, and doesn’t simply offer a one size fits all approach to financing.

Download Factor App or visit www.factor.bid to start getting competitive offers on your open invoices today!

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Easy business invoice financing (factor finance)

Use Factor App for easy business invoice finance. Factor your open accounts receivable invoices for immediate cash. Cover Payroll, Day-To-Day Expenditures, Fuel Costs, Equipment Repairs, Investments and New Employee Hiring.

Factoring has been around for thousands of years. You’re business invoices are assets and should be treated as such. If you’re tired of using your own personal credit and reserve savings to cover your business costs, factor your open accounts receivable invoices and get immediate cash to help grow your business and keep you competitive in your industry.

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