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!

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Medical Transcription Services Invoice Finance offers

Medical Transcription Services Invoice Finance

Medical transcription factoring is a business funding method that exchanges the unpaid invoices sitting on your books for a cash advance of equal value.
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When providing medical transcription services to healthcare facilities, long payment terms may prevent your company from seeing healthy growth results, mainly from lack of accessible cash that’s needed to purchase updated equipment, fulfill objectives and most importantly acquire new clients.
The Factoring Process is simple:
  1. Continue servicing your clients
  2. Send your invoices to the factor
  3. Receive cash in 24 hours

Medical Transcription Factoring – enables your company to keep up with the latest transcription technology, hire additional employees, improve financial health, expand market reach and grow at a successful pace.

Keep in mind that medical transcription factoring is not a loan, which means you’ll avoid accruing any new debt. Regardless if your medical transcription services company is big or small, factor bid gets you a few offers from competing factor finance companies specializing in medical transcription services invoice financing, so you get the best deal when factoring.

The top factors with medical industry expertise and knowledge of accounts payable and receivables are at your service. Factors compete for the right to earn your business. When medical transcription services companies use factor bid to get a few offer for their invoices, factors realize they’re competing for your business and are eager to find the best way to earn it.

Get the knowledge and leverage you need to negotiate the best deal when factoring your medical transcription services invoices for immediate business capital. Increase your cash flow quickly and take advantage of the benefits of factor financing.

Check out Factor App – for invoice financing on the go!

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The reality of coming up short -when the bills are due (business finance)

If you’re reading this, your business may be experiencing a cash flow problem. Maybe you’re business could be performing at a higher level, making more money with less effort and lower stress. Are you properly managing your business cash flow? Do you see more bills that are due then revenue that has been collected? This type of shortfall can effect the health of your business and even leave you feeling angry, unsure and frustrated.

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Accounts receivable represents sales that have not yet been collected as cash. When you sell your good and/or services to a customer in exchange for the customer’s promise to pay you at a later time, you’re leveraging your cash and business credit to extend terms to your customers. If your business normally extends credit to customers, then the payments of your accounts receivables are likely to be the single most valuable source of capital in your business.

What can you do to Better Manage your Company’s Cash Flow

To Properly manage your company’s cash flow, you must first analyze components that affect the timing of your cash inflows and cash outflows. By reviewing and analyzing key components within your business you can discover areas that leave cash flow gaps and may be costing you extra money from temporary solutions that don’t add up long term. Narrowing or even closing cash flow gaps for good, is the key to efficient cash flow management.

Important Components you need to Manage Include

Accounts receivable.  Accounts receivables represent sales that have not been collected in the form of cash. Businesses create an accounts receivable invoice after you’ve sold something to a customer in return for his/her promise to pay at a later date. To properly manage cash flow, you must realize the negative affects caused by the time it takes your customers to pay off their open-outstanding invoices.

Inventory. Inventory management is very important and describes the extra merchandise or supplies your business has on hand to meet the demand of current and even new customers. An abundance of inventory can hurt your cash flow by using up money that could be used to grow your business.

Credit term. Credit terms are the time limits you set for your customers promise to pay for the goods and/or services purchased from your business.

Credit policy. A credit policy is the formula you use when deciding to extend or not extend credit to a customer. Your credit policy should be used to make sure your cash flow doesn’t fall victim to a credit policy that is too strict or too generous.

Accounts Payable and Cash Flow. Your business accounts payable are monies you owe to suppliers that are payable or due sometime in the near future. Net 30-45 or sometimes even 60 days from the delivery acceptance date. Without accounts payable and trade credit you would have to pay for all goods and services upfront or at the time you agree to accept/purchase them. For efficient cash flow management you need to examine your accounts payable schedule monthly.

Worst Case Scenario

In the worst case scenario, unpaid accounts receivables will leave your business without the necessary cash on hand to pay bills, employees and daily expenditures. Late paying or slow-paying customers will create cash flow gaps and shortages, leaving your business without the necessary cash on hand to cover outflow obligations.

Fixing the Gaps in your Cash Flow cycle

Looking into partnering with a factor finance company will help dissolve any cash flow gaps. A factor is going to provide you funds within 24 hours of invoicing your customers, closing out any shortfalls or outstanding payments that are due.

The Factor finance company resumes the responsibility of collecting payments from your outstanding receivables so you can focus on running your business and generating new accounts to help drive more growth.

Accessing cash with 24 hours of invoicing customers can help define your predictable cash flow each month. You’ll have a good understanding of how much money you have on hand for purchasing, investing and efficiently operating your business. You’ll be able to reach benchmarks you’ve set faster, accept new customers with no hesitation and manage existing customers more efficiently.

I want the Best Factor Finance Company, Help me find one

All Factors finance companies are different. Some specialize in specific industries and are able to offer competitive rates within their fields of expertise. If you present your invoices to a factor that does not specialize in your specific industry, but may still be willing to help finance your invoices, you may not be getting the experience and best deal you could receive with a factor that better understands your industry. You don’t want to be the guinea pig in a factors attempt to wing their way through trying to finance invoices in an industry like yours that they know nothing about.

That’s where Factor bid comes in. Factor bid matches your business with the top factors in your industry, while getting you a few competitive offers at the same time. When factors compete for your business, you win! You’ll get the knowledge and leverage you need to negotiate the best deal with the right factors that specialize in financing invoices in your industry.

Factor bid is a free small business resource and only takes about 2-3 minutes to get you started in receiving competitive offers from the top factor finance companies. Get started today by visiting www.factorbid.com

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Two ways to factor your open invoices; recourse and non-recourse.

Two ways to Factor Finance your outstanding accounts receivable invoices for cash! Get an injection of cash for your business that trapped in your accounts receivables. Funding in as little as 24 hours! www.factorbid.com

*Recourse Factoring Agreement

*Non-Recourse Factoring Agreement

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Ask questions about your factoring agreement!

Factoring benefits your business by providing immediate cash flow on your accounts receivable invoices. You’ll have the cash on hand to grow your business, cover daily expenses and even invest in additional supplies, employees and opportunities that present themselves.

Factors also add their assistance with back office bookkeeping help. Factor finance companies collect payments on your outstanding receivables from your customers. Having more cash on hand plus a factor that handles collections provides you the time and money to do what you do best, work hard for your business!

Let’s discuss your two types of factoring; recourse and non-recourse factor financing.

Non-Recourse Factoring

Pro:

Non-recourse factoring is appealing from a risk management perspective. It lowers your company liability.

With non-recourse agreements, the factor accepts more of the risk of non-payment by your customers that don’t pay.

Con:

Non-recourse factoring is usually more expensive than recourse factoring. Non-recourse factoring is also limited to debtors (your customers) invoices that are most likely to pay. If a debtor has poor payment history and credit rating, a factor will usually not assume the risk of non-recourse factoring.

Non-recourse factoring doesn’t always protect your company from all risk involved from non-payment by a debtor. Some factor finance companies only offer non-recourse in the event your debtor declares bankruptcy. But if a debtor decides to simply close their doors and disappear  one day without paying, the factoring client will have to buy back that invoice from the factor finance company.

Recourse Factoring

Recourse factoring is the default for most factoring agreement today. Recourse is an understanding between you and your factor finance company, that you must buy back receivables that the factor is not able to collect on.

Pro:

Recourse factoring is typically less expensive. Less risk for the factor finance company means a lower rate for your business when selling your invoices for immediate cash.

Con:

As the client, you’ll have to cover the cost of any invoices (bad debt) of your customer that decided not to pay.

Whichever type of factoring you decide to obtain through your factor finance company, make sure you’re getting a few offers from different factors so you get the best deal. Every factor is different and every business has different types of customers. You may work with big companies that have long business standing in the community and are seen as low risk, which means your rate and terms may be different from a business working with a newer more high risk company with less long-standing business history to examine.

By visiting www.factor.bid – you’ll get a few offers from competing factors that specialize in your specific industry. When factors know they’re competing for your business at the exact same time, you’ll get their very best deal!

Start your factoring experience the easy way, by using factor bid, where we match you with the top factor finance companies that are eager to earn your business and provide you with competitive offers to prove it!

www.factorbid.com 

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Factoring rates explained – Why 3% for 30 days doesn’t equate to 36% APR Interest

Factoring Rates Explained

Why 3% for 30 days doesn’t equate to 36% APR Interest. The belief that Accounts Receivable Factoring is too expensive, typically is based on the lack of understanding of what the actual factoring rates represent.

Factor Finance Companies (Factors) do not loan money at a rate of interest. They supply your growing business with working capital (and when you do well they do well). They do this by purchasing your invoice ‘receivable assets’ at a discount of the face value amount of the invoice. For this, factoring ‘rates’ represent a percentage discount in the sales transaction, not the traditional ‘bank style’ interest rate on a loan.

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Let’s take a look at an example;

If you have a $10,000 dollar invoice that is due to be paid by your customer 30 days from now, a factor may offer to buy the invoice for $9,700 dollars in cash, which is called the advance (and can be wired or ACH into your bank account within 24-48 hours) with the remaining balance being paid to you (less the factors fee) when the invoice is actually paid in full by your customer (called the debtor). Based on the scenario above, you would have agreed to discount your invoice by $300 dollars, or 3% of the face value.

The advance rate depends on what you have negotiated with the factor and some other key variables like the credit worthiness of your client,their payment history and the amount of the invoice. Usually the factor finance company will advance 80-90 percent of the face value of the invoice.

If a factor company tells you they will buy your invoice at a rate of 3%, that rate is not the interest rate on the loan, instead it’s the percentage discount the factor requires to get your business immediate cash today, for invoices they won’t collect on for 30 days.

Invoice financing is a strategic way to grow your business faster and will help cover payroll from additional employees, supplies, day-to-day expenses, investments and strategic overall business growth.

On average factoring discount rates range from .6% 1.4% for every 10 days an invoice remains outstanding from its original agreed upon due/payment date.

Factoring discount rates are transactional rates, where the amount of the discount is the factor finance company’s fee for the sales transaction – not that much different than the fees Credit Card companies charge merchants to advance them cash on their credit card sales.

A common misunderstanding about the costs associated with factoring arrises when financial professionals and business owners try to company interest rates to transactional rates. These two rates, as we’ve described are very different.

Example;

If you business sells $100,000 thousand dollars worth of invoices to a factor, and the factoring fee is $3000 dollars on invoices that are paid in 30 days; the tendency is to take the 3% fee – multiply it by 12 months and assume the factor is earning a whopping 36% return! That conclusion, however is false. The factor doesn’t collect $3,000 or 3% every month. The factor collects a 3% fee once, as the result of a single sales transaction. Same scenario if you were to discount your own service / product to your customer at a 3% discount.

Another way of looking at it – if you give your best customers a 3% price discount every month over the next year, does that mean you’ll have discounted your product or service by 36% by the end of the year? Of course not! If your profit margin on your product or services is 10% every month, your annual profit margin is still 10% annually.., not 120%!

Ask yourself – how much more money could your company make if you could recover your working capital immediately. On $100,000 dollars in “outstanding invoices” if your company could get $80,000 – $85,000 dollars within 24-48 hours, how much faster could your company grow.

In the examples above if your company’s net profit margin is greater than 3%. Any additional business you generate by accelerating your receivables provides your business with additional profits. You know the saying, we all know the saying – “it takes money to make money!” So if your business is generating invoices, that means you’re running a good business, it’s time to “Cash In” on your hard work so you have predictable cash flow every month to pay for additional employees to help you run grow your business, additional day-to-day expenses, supplies, investments, equipment and more.

Now that we know factoring can help your business grow at a much faster pace and become more profitable in less time, what’s the right factor finance company for your business type? Good question. Smart business owners use www.factor.bid to find the best factor in their industry and get the best rate when factoring.

Factor bid matches your business with the top factor finance companies that compete to buy your invoices for immediate cash. Before you decide which factor finance company to partner with, make sure and get the leverage you need to negotiate the best offer.  Factor bid gets you a few competitive offers to buy your accounts receivable invoices, so you get the best deal and most money when factoring your outstanding receivables.

 

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!

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Healthcare Factoring vs. Third Party Medical Receivables Factoring.

Healthcare Factoring vs. Third Party Medical Receivables Factoring

There is misinformation about what funding is available for suppliers and professionals in the Healthcare industry. Let’s talk about the two types of accounts receivable medical funding available- Healthcare Factoring vs. Medical Receivables (Third Party Payee) Factoring.

First there is one common denominator about everyone doing business in healthcare, you receive payments on outstanding invoices very slowly!

Healthcare Factoring: Like Trucking Factoring, Manufacturing Factoring or Staffing Factoring, Healthcare Factoring describes expertise in buying Invoices in a certain industry by the Invoice Factoring Company. Some Invoice Factors only specialize in one or two industries. For example, there are many trucking only factors. So if your business provides nurse staffing, medical supplies, transcription services or other products and services to the healthcare industry, a Healthcare specific Factor is a good choice to partner with. However, most Factors are generalists, their expertise lies in collection and credit and they will buy invoices from most industries as long as there is not a THIRD PARTY PAYEE. But to be matched with factors that specialize in your specific industry and will be able to give you the most help and most aggressive deal -it’s recommended that you use Factor.bid to get a few offers from factor finance companies to buy your invoices, before making your final decision.

Third Party Medical Receivables Factoring: When you buy goods you as a consumer you’re the end user and typically end up paying for those goods. However, there are some industries where the consumer does not directly pay for services received but the provider of those services are reimbursed by third party payees. Healthcare is the primary example of this in the US as Healthcare is 19% of total GDP. In healthcare those third party payees could be Medicare, Medicaid, Commercial Insurance, Private Insurance, HMO/PPO, and Managed Care. The average time to collect for these types of Accounts Receivables can range from 90 – 180 days.

Third Party Medical Receivable Factors focus specifically on financing the healthcare and medical community and understand the pressures providers and facilities face on both the cost and revenue sides of business. With their experience they have a good understanding of the complexities of billing, monitoring, and collecting medical receivables, as well as the cash flow challenges of managing a healthcare or facilities organization.

Billing and coding expertise is ultra-critical. A Doctor, Hospital or clinic bills $2000 for a procedure under one code and subsequently Medicare or the Insurance carrier changes the code and only remits $400. As a healthcare professional you know the billing dance and the risk to your business. That is why it is best to partner with a Factor finance company who has a deep understanding and years of experience in third party payees and is up to date on recent healthcare legislation.

If you’re in the healthcare industry and looking for a way to increase your workflow capital, research all of your options: the different companies available, the services they offer, pricing, terms, etc. The easiest way to get a few offers from specific factors that specialize in your industry is to visit www.factor.bid and submit your invoice (takes about 2 minutes). Within the hour, you’ll have a few offers from the top factor finance companies competing to buy your open receivables.

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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

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Security Guard Companies Invoice Factoring

Security Guard Companies Invoice Factoring -with increasing need for security guard services throughout North America, make sure your company can is cash flow positive to cover employee payroll.

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Security Guard Companies

Investing in factoring gives your company the predictable cash flow that can be used to invest in the latest technology for your security guards. Provide your clients with top-notch security services and state-of-the-art technology can help set your company apart from your competitors.

Factors can also help with your backend accounts receivable invoicing and collections. Give your company an advantage over competitors. Get paid right away on your outstanding invoices and grow your company faster. Don’t turn down huge accounts with lucrative payout potential because you don’t have the capital on hand to support additional day-to-day expenditures. Partner with a factor finance company and start treating your accounts receivables as assets that can provide immediate increased cash flow.

Cash flow is often a problem in any growing business. You’ve got expenses and typically the business is forced to carry those expenses for several months until customers send in payments. Factor finance will let you sell your accounts receivable invoices at a discount, keeping the business cash flow positive and allowing for faster growth and better quarterly profits.

Security companies have ongoing expenses each month. Not only do you have to make payroll for your security guards. You also have to invest in the right equipment and even be able to offer tailored services to your clients.

Factoring security guard services invoices is very straight forward. When you sign-on a new client, complete the service job or project and send in the invoice, the factor advances you a large portion of the total invoice amount. This way, you’ll have the cash you need to cover weekly and monthly expenses. Once your client pays the invoice in full, the factor will pay you the remaining reserve amount, minus a small factoring fee that you have pre-negotiated in advance.

Factor is much different than a bank loan. With factoring you don’t have any funding limits like you might have with a traditional bank loan. Banks tend to limit how much you can borrow, and renegotiating that limit can take a good deal of time. With factoring, your line of credit continues to expand as your business grows and you take on more new clients. This way you’ll have predictable cash flow and won’t need to resubmit financials, documents and business credit history to ask for an increase from the lending establishment, like a bank.

Factoring also doesn’t need a long list of assets and you don’t need to have a substantial credit history. In fact with factoring, the service provider is more concerned with your clients’ ability to pay, as opposed to your credit history.

Another key advantage that many security agents don’t consider when considering the idea of partnering with a factor finance company is the benefit of someone else handling the administrative duties related to background checking new customer clients. Following up on outstanding invoices and collecting receivables due on outstanding invoices can be a tedious job for anyone. It’s these small value-add services that add up and can save your growing company a significant amount of time and money!

We’ve seen more security companies looking to secure more government projects. With a factor finance company as your finance partner, you’ll have access to predictable cash flow so you can pursue government contracts with confidence, knowing that your factoring company is supporting you every step of the way.

It’s recommended that when you’re ready to factor your security guard services invoices you get a few competitive offers. Decide from a few different factor finance companies which one best fits the needs of your company today. You can do this by using Factor.bid when choosing which factor is right for your growing business needs.

Visit www.factor.bid today to get started. It’s free and you’ll get a few offers from the top factor finance companies that specialize in security guard services invoice financing.

You can also use your mobile devices to find the best factor to buy your accounts receivable invoices by downloading Factor App.

for Android Smartphones

for iOS Apple Smartphones 

Get multiple offers to buy your accounts receivable invoices. Cash for your receivable invoices. Finance your accounts receivable.

Get offers to buy your accounts receivable invoices. Use Factor bid to get multiple offers to buy your receivables. Cash for your receivable invoices. Finance your accounts receivable.

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Factoring provides access to immediate cash for outstanding and/or slow paying accounts receivable invoices.

Get paid as soon as today for open invoices. Don’t wait 30-90 days to get paid. Factor finance your accounts receivables and get the cash flow you need to keep your business competitive.

Factoring your receivables increases cash flow so you can grow your business faster, cover day-to-day expenditures that may be costing your business money and afford to pay employees on a full-time regular basis.

TURN OUTSTANDING INVOICES INTO FAST CASH

Take control of new opportunities for your business with predictable cash flow. Access to immediate cash for outstanding and/or slow paying accounts receivable invoices can help save you time and money.

Factor.bid is easy to use and you get multiple offers from the top and best factor finance companies that specialize in your type of industry invoices. You can visit www.Factor.bid and submit your invoices using your computer or download Factor App and use your mobile device by taking a picture or uploading a copy of your invoice.

Factor financing your open accounts receivable invoices is now as easy as taking a picture of an invoice and clicking submit. You’ll have offers from multiple factors that are eager to earn your business as a new factoring client.

Get started factoring today! You’re under no obligation to finance your invoice. Get more information and find out which Factor finance company is right for your business needs. A Factoring company is a good resource to have when you need immediate cash to cover business expenses, especially at a moments notice. Get set up with a factor that bests matches your business needs. Submit your invoice using Factor bid to get the leverage you need to negotiate the best deal when factoring!

Download FactorApp

for Android Smartphones

for iOS Apple Smartphones