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.
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.