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:

Download Factor App for your Android and Apple Smartphones!

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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KISS principle “Keep it simple, stupid” – all benefits of factor financing (invoice finance) from Factor Bid

“Keep it simple, stupid” the KISS principal when it comes to your money! Don’t wait 30,45 or even 60 days to get paid for your outstanding accounts receivable invoices, get paid as soon as today!

When it comes to factoring (invoice finance), the sky’s the limit concerning all the benefits.  Mainly due to the question, “What are you going to do with all YOUR money you now have access to?” Let’s clarify, it’s your money and always was.  You already completed the job. Your client has the bill/invoice.  You are just waiting for the payment that you already earned.  This is important to wrap your head around.  When you factor finance, you are NOT applying for a loan!  You are gaining access to the cash that is trapped in your accounts receivable invoices and is owed to you for a job well done.

I’m ready to get a few offers for my invoice from competing factor finance companies – Let’s Start!

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What would your business look like if you were paid the SAME DAY for the products/services you provide?  What would it look like if you had the money in your checking account the next day, instead of having to wait 30 plus days?  How many people could you hire?  How many new trucks, supplies or necessary equipment could you buy to help grow your business faster?  What if you were not biting your nails on a Thursday ANYMORE when thinking about how to pay your employee’s on Friday?  Now, I am just talking about one invoice.  What if you are processing/billing 10, 20, or 30+ invoices a month…and waiting for the checks to arrive in the mail?

Ask yourself:  “How much MONEY is locked up in someone’s Accounts Payable (A/P) that you’re not accessing to pay your own bills?”  When you signed up to own your own business and create an amazing product/service, you didn’t intend on being the bank or finance company of all your customers, did you? Dream the dream.  What would your business look like if you were paid same day?  What would that be worth to you?

Apart from all the benefits above that specifically apply to your dreams, line of business, and how you want to grow your company, factoring your open accounts receivable invoices also does the following:

  1. Eliminates bad debt – As you will have no more bad debt, because you – smarty pants- will ALWAYS get paid for a job well done, you can eliminate this expense from showing its ugly head on your income statement.  That’s awesome!
  2. When you partner with a factor finance, you are partnering with an experienced company who now helps you manage your accounts receivable invoices.  No more collections process for you! No more expensive ‘collections outsourcing’ or lawyer retainer fees to deal with.
  3. The sky’s the limit!  You now have access to unlimited capital.  The more you grow, the more financing becomes available.  You love the factors and they love you.
  4. As factoring is NOT a loan, you will not be incurring any debt.  That’s right!  No debt. This frees up your balance sheet and keeps it healthy for when you want to obtain other types of financing or sell your company.
  5. Factors know that time and money go hand in hand.  They want to get you money fast and make the process as seamless as possible.

 

So, what are you waiting for?  Whether you have $5,000 or $120,000 of open accounts receivable invoices sitting on your desk, factoring can provide you the means to run your business like never before.  
Simply, go to factor.bid to begin a FREE and NO OBLIGATION journey into the world of factor financing.  Once you upload an open invoice, you will have up to three factor financiers call you, eager to earn your business.  Factor bid gets you competitive offers from the top factors in your industry that are looking to buy your open invoices today! Sit back and let the offers come in.  It’s probably the easiest and best decision you’ll make today!

GO MOBILE – Factor App in invoice finance on your Smartphone!

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Discovering business capital that is right in front of you, is comparable to winning the lottery..

Discover business capital that is tied up in your outstanding open accounts receivable invoices. Don’t become the financier of your customers, you delivered goods/services now it’s time to get paid. Don’t wait 30,45 or even 90 days to be paid, Get Cash Today!

Why is your CASH worth more TODAY than tomorrow?

CONGRATULATIONS!!!  You just won the lottery!  You begin planning how you are going to pay off debt, buy a new home, give money to the family, go on vacation, maybe give to a charity.  The lottery gives you two payment options:  Receive $1,000,000 now or $1,000,000 over the course of five years.  What pay-out are you going to chose?

Most everyone is going to want their $1,000,000 up front.  Why is it better to have the money now, rather than later?  Any hard working business owner will tell you, waiting for the check to arrive adds unwanted stress to our business. We didn’t sign up to be the financial arm of our customers, while they use our money to make more money. Let’s look at the TIME VALUE OF MONEY!

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What is the Time Value of Money

A $10 dollar bill is the same today as a $10 dollar bill five years from now.  However, if you have $10 now you can begin earning interest on that $10.  All of a sudden, your $10 is worth $11 five year from now.  This might not seem like a big deal in the case of $10, but it is when you are a business dealing with thousands or hundreds of thousands of dollars — It is a VERY BIG DEAL!

It becomes an even a bigger deal when the $10 dollars you’re suppose to have today, ends up arriving 60 days after it’s suppose to, or worse off, never arrives at all! Liability plays a key roll in important business decision, especially when your money is involved.

So what can you do to ensure you’re being paid sooner for the job you’ve already delivered.

Many industries use invoicing as a method of payment for services rendered or products purchased.  Payment can take as little as 30 days to receive or as long as 120 days. Someone in the trucking industry, for example, might receive payment in 30 days for their services or in 45 days if the customer is slow pay.  In the case of the healthcare industry, healthcare professionals have to wait for both the insurance company to pay a percentage of the bill followed by the client to pay off the remaining balance.  That is a lot of paperwork and a huge amount of time tied up in waiting for payment.

So what you can do is “unlock” the cash that’s being trapped within your outstanding accounts receivable invoices.

How?

Visit https://factor.bid and we will show you how easy it is to unlock cash that is sitting in your open accounts receivable invoices.  Simply upload your invoice, or snap a picture using our finance app called Factor App, and within minutes factor finance companies will be competing to buy your A/R Invoices for immediate cash.  Isn’t it nice to have someone competing for your business for a change, while you are out competing for everyone else’s?  

The best part about getting your business set up with a factor finance company (that buys your invoices and gets you paid within 24 hours) is the simple fact that you’re no longer going to be the bank. Let someone else finance your customers, so you can get your money upfront and use it to grow your own business faster.

If you’re making money, so is your factor finance partner. Factors want to see you grow your business faster and make more money. They’re ready and able with their years of experience and back office assistance to turn your small business into a thriving, competitive juggernaut within your industry.

Check out Factor bid to get a few offers from the top factor finance companies within your industry, and get paid as soon as today for your outstanding accounts receivable invoices (A/R Invoices)

Factor Financing in an App – Factor App – Download for your Smartphones

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Technology Invoice Finance

Technology Invoice Finance. Get the best results for your technology company by financing your accounts receivable invoices for immediate capital.

It’s recommended that you use Factor.bid when choosing the top factor finance company that best matches your small – medium size business. Get a few offers from industry specific Factor finance companies that specialize in financing internet technology receivables.

When Factors compete to buy your receivable invoices so you get the best deal when factoring. Watch the video to quickly learn more about Invoice Technology Finance!

Learn more…

What are some of the benefits of Non-Recourse Technology Factoring!

Factor finance companies will purchase your company’s outstanding Invoices, Credit Card Receivables, Accounts Receivables and more so your business gets between 85 – 95 percent of the invoices face value in as little as 24 hours.

Technology finance provides your internet technology company with predictable cash flow to more accurately cover things like payroll, eliminate cash flow problems, expand your products and services into new markets, augment your offering and best of all access fast cash that doesn’t live on your books as debt.

Your business accounts receivable invoices are assets, start treating them like so! 

Example of how Technology Invoice Factoring Works!

By using Factor bid (to get a few offers from the top factor finance companies) – You’re matched with the top factors that specialize and understand invoice technology financing. They understand your expenditures and revenue stream and can help design a better system to grow your business more efficiently.

Not all factor finance companies are created equal. It’s recommended that you use Factor.bid to get a few offers when selling your receivables at a discount in order to get the very best deal when financing your receivables.

Your company’s financial history and credit score do not determine if you’ll be approved for financing. In most cases the factor is looking at the credit worthiness of your customers, the ones that have agreed to pay in accordance with your open invoices.

The factor finance partner you choose will also help you decide if new customers you may start working with are a good choice; if they pay their bills, how much risk is involved with invoicing them for net future payment, etc.

The factors main objective is to help you increase deal flow. The more accounts receivables your company is producing, the more invoice inventory available for purchase. The factor wants your company to make more money! It’s in their best interest to see you succeed, unlike a traditional lender that requires personal collateral, that can be collected against  you, if you fail.

Factoring is a smart way to fund your growing business and leverage your accounts receivable invoices for access to immediate cash flow capital. Grow faster and increase your marketshare, your factor financier will be right there along the way to make sure your cash flow positive to get work done.

We think you’ll agree that once you start utilizing technology factoring, your business will grow faster and larger than ever before.  There is no obligation when using F

For technology factoring on the go, grab Factor App for iOS and Android Smartphones. Available now!

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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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How does invoice factoring work?

What is Invoice Factoring

Invoice factoring is when a business owners sells their accounts receivables (invoices) to a third party (called a Factor) at a discount.

Why Factor App

If you can receive multiple offers for your invoices, so you get the best deal and most money when factoring, wouldn’t you at least give it a try?  Great, then visit www.factor.bid and download or app to start getting the most money for your accounts receivable invoices today!

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MORE..

Factoring is a service know as accounts receivable financing, accounts receivable funding and/or cash flow financing. Factoring is the process of outsourcing your accounts receivables to a Factor and in exchange the Factor provides immediate funding. Each factor is a little different and have unique terms, rates and lending practices.

That’s why when you’re ready to start Factoring, you should use Factor App. With Factor App, Factors compete for the opportunity to buy your invoices, so you get the leverage you need to negotiate the best deal for your business when factoring.

  • Negotiate more upfront money
  • Negotiate your liability options – maybe you want Non-recourse factoring
  • Negotiate the best rate
  • Negotiate the best terms
  • Negotiate the most money for your invoices

In many industries, payment terms range from 30-90 days or more. Growing companies like yours require injections of continuous cash flow to offset expenses and help keep business operations strong.

CREDIT 

Factoring can be the right financing solution for those with new or little credit. Unlike conventional lending institutions, Factoring is based on the credit worthiness and strength of the debtor or the (payer). So for companies that have been denied by banking institutions and for brand new businesses with little or no established credit, Factoring can prove to be a viable key to your companies growth and success.

FAST CASH

Factoring provides your business with immediate cash flow upon the creation of new invoices. By agreeing to sell your receivables to a Factor, your company can pay bills, focus on building new client relationships and pursue new business opportunities every day. You’ll also have the assurance that your accounts receivable are being properly maintained and paying as promised.

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Thank you for Trying Factor App – Accounts Receivable Invoice Bidding Marketplace

 

 

Why Choose Factor App? Because one Factor does not fit all!

As a business owner, being able to choose who you work with is important. People are different and sometimes won’t see eye to eye.  That is why we created Factor App!

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If you’re thinking about Factoring your accounts receivable invoices, shouldn’t you get to pick and choose who you’re work with? I mean we’re talking about your business and most important your Money!

Factor App – is the fastest and easiest way to Factor your receivables.

1.) Snap a picture of your Invoice

2.) Tell us the amount of the invoice

3.) Submit invoice

Factors COMPETE to buy your invoices, so you get the best deal and most money when Factoring.

Factor App is a simple and FREE way to Vet New Factors, to see which business style most closely matches your way of doing business. Take advantage of Factor App now and get paid as soon as today for your accounts receivable invoices.

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“Having influence over your important decisions, makes the business – well, yours.”

StartUpGrind 2016 – Factor App

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StartUp Grind 2016

FOR IMMEDIATE RELEASE

StartupGrind Names 50 Companies to the 2016 Startup Program

StartupGrind: Inspiring, Educating and Connecting Entrepreneurs.

PALO ALTO, CA – January 19, 2016 – StartupGrind today announced the induction of 50 companies to the 2016 Class of our Startup Program.

The Startup Program that recognizes the top 50 companies hand picked from 200 cities around the world. Startup Grind Startup Program companies are an elite group of companies whose founders range from former Googlers to CERN Physicists to Forbes 30 Under 30.

Startup Program companies are given access to StartupGrind’s network of mentors and investors. The program helps companies to accelerate their pace towards growth and success. “We started this program after seeing many of the Accelerators and Incubators not doing much to really help companies,” says Derek Andersen, founder & CEO of Startup Grind. “We really wanted to make an actual difference in the startups trajectory and leverage all of our resources and network to their advantage.”

“Of the 1,100 startups that applied, 50 were selected representing the Startup Grind community across 80 countries. These startups have great teams, traction, technology and massive markets,” says Andersen. “Our biggest goal is for each startup to go back home with a new and improved game plan that would not have happened without the help of the program and the mentors/resources that were made available to them.”

About StartupGrind

Startup Grind is the largest independent startup community, actively educating, inspiring, and connecting 215,000 founders in over 200 cities. We nurture startup ecosystems in 70 countries through events, media, and partnerships with organizations like Google for Entrepreneurs. The cornerstone of our global community are monthly events featuring successful local founders, innovators, educators and investors who share lessons learned on the road to building great companies. Founded in Silicon Valley, Startup Grind has now hosted 2,000 fireside chats since it’s founding in 2010. To date, Startup Grind has helped millions of entrepreneurs find mentorship, connect to partners and hires, pursue funding, and reach new users.

Learn more at http://www.startupgrind.com

FACTOR APP

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Download Factor App – Get immediate cash and the best deal for your Invoices today!

Factoring

Even when running a profitable small business, cash-flow issues arise, especially if you’re customers pay for goods and services over 30-90 days instead of immediately.

One way to solve cash-flow problems is with invoice factoring, where you turn your unpaid invoices into immediate cash. But like every financial product, invoice factoring has it’s pros and cons and may not be a good fit for your small business.

Overview of invoice factoring

Invoice factoring is a financing option for business-to-business (B2B) companies that need help managing cash flow due to slow-paying customers. Factoring enables your business to convert its account receivables — money owed by your customers — into immediate cash.

Invoice factoring is technically not a loan. Rather, you sell your invoices at a discount to an invoice factoring company in exchange for a lump sum of cash. The factoring company then owns the invoices and gets paid when it collects from your customers, which typically occurs within 30 to 90 days.

Let’s say you own a Logistics transportation company, creating thousands of dollars a week worth of accounts receivable invoices. Most of your customers agree to pay off their invoices within 30-45 days, but you need immediate cash to pay employees, buy diesel fuel and other daily expenses, creating a cash-flow shortfall.

You could turn to a traditional banks for a loan, but it requires collateral (a physical asset, such as real estate, which can be sold by the lender if you default) and high personal credit score. Or maybe you qualify but don’t have time to wait several months for the loan to close.

So you turn to an invoice factoring company, and the factor agrees to buy your invoices for $9,700 in cash, less a 3% factoring fee ($300). The invoice factoring company then advances 85% (or $8,245) of the invoice within a few days (although the actual size of the advance will depend on numerous factors, including the total amount of the advance, the age of the invoice and the customer’s creditworthiness). The factoring company then collects the invoice when it’s due and advances the remaining balance owed to you ($1,455).

The factoring fee, also known as a discount rate, can cost anywhere from 1% to 5%, depending on the invoice amount, your sales volume, your customer’s creditworthiness, and if it’s a recourse or non-recourse factor.

If the contract is a recourse factor and the customer doesn’t pay, you may have to buy back the unpaid receivable from the factoring company or replace it with a more current receivable of equal or greater value. If it’s a non-recourse factor, you’re under no obligation to repay or replace the unpaid receivables, but you’ll likely be charged a higher transaction fee because the factoring company takes on the added risk of not getting its money back.

Reasons to use invoice factoring

  • Fast cash: Invoice factoring can provide immediate working capital to help cover a funding gap caused by slow-paying customers. You then have the freedom to pay your bills, meet payroll demands, buy equipment and grow your business. Factoring enables you to focus more time on your business and not chasing customers for overdue and/or late payments.
  • Easier approval: Invoice factoring provides financing to companies that might not be able to get capital from other sources, such as traditional banks, due to a lack of collateral for a loan, poor personal credit, or a limited operating history. Invoice factoring companies typically only care about the value of the invoices you are looking to factor, as well as the creditworthiness of the customers.

Things to look for when invoice factoring

  • Costs: You have to watch out for hidden fees, such as application fees, a processing fee for each invoice you finance, credit check fees or overdue fees if your client is past due on a payment, which can increase your APR.
  • Reputation: Because the invoice factoring company collects on the invoices directly from the customer, you need to make sure it’s  handled professionally.
  • Dependence on customer’s credit: The factoring company may need to verify the creditworthiness of your customer. If the customer has a history of late or missed payments, you may not be approved for the financing.

Alternatives to Invoice Factoring

INVOICE FINANCING

Invoice financing, also known as discounting or accounts receivables financing, is a bit different than factoring in that you aren’t selling your invoices to a factoring company. Instead, you use the invoices as collateral to obtain a cash advance and you are still responsible for collecting the invoice amounts yourself.

  • Improve cash flow: Just like invoice factoring, it allows you to keep loyal customers on longer payment terms. This feature can improve your cash flow and help you grow your business.
  • Maintain control: You keep control of your accounts receivables and the collection of payments. This is likely a better option for business owners who prefer to handle collections themselves. Because you control your accounts, it’s likely your customers won’t even know that you’re borrowing funds against the invoices they owe you.
  • Credit score not as important: Invoice financing companies care more about your business and the creditworthiness of your customers than your personal credit.

RECEIVABLES-BASED LINE OF CREDIT

A receivables-based line of credit is another invoice financing option for small-businesses. This is a short-term line of credit that is secured by the borrower’s unpaid accounts receivables. It’s structured as a credit line instead of a purchase of your accounts receivables.

Borrowers should understand that a line of credit isn’t like your standard loan, where you get one big cash advance of funds that you need to repay monthly. Instead, it works like a credit card: You get access to a sum of money and you borrow and repay it as you like.

Most credit lines only charge interest on the money you’ve actually borrowed. However, the credit line may come with an end of draw date when you’re no longer able to borrow and you must repay the outstanding balance in full at that time.

  • Flexible: A line of credit can provide you with the financial flexibility to manage cash flow and run your small-business. You have access to cash that you can borrow and repay as needed. This can help you better manage cash flow or unexpected expenses.
  • Maintain control: You maintain control over the relationship with your customers and will remain responsible for collecting invoices.
  • Low cost: Asset-based line of credit costs 10% to 25% APR plus the prime rate (3.5%), making it less expensive than your invoice financing and invoice factoring options.
  • Variable rate: Lines of credit usually carry a variable interest rate, which means your payments can rise or fall depending on the prime rate. However, this will depend on each lender, and a fixed-rate option may be available.
  • Secured by receivables: Because the receivables are used as collateral for the line of credit, if you can’t repay the line of credit, you will likely have to forfeit these assets, although this will depend on the lender you choose.

Conclusion

Invoice factoring and invoice financing are suited best for established B2B companies that have reliable yet slow-paying customers, which results in a high accounts receivable balance and/or a funding shortfall. These can help immediately to add working capital by utilizing your business accounts receivable assets.

Get the best deal when Invoice Factoring

You can shop your accounts receivable invoices using Factor App. Download Factor App to get the best deal for your invoices. Just like any financial product, it’s important to shop around and compare lenders to get the best deal. At Factor App, Factors compete to buy your invoices, so you get the best deal!

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