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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How Factoring your Accounts Receivables can Finance a Trucking Company

Factoring your accounts receivable invoices and financing you trucking company in today fast paced competitive trucking industry. We can help! www.Factor.bid

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Cash flow problems can happen to anyone. Financial problems usually exist for transportation and logistics Companies that are seeing steady growth. Why? Because as you grow so do your operating expenses. This makes managing the company more difficult and may even affect your ability to stay competitive or even stay in business.

Factoring your open accounts receivable invoices is a good idea and can help out with operating expenses, equipment purchases and investments and even day-to-day fuel costs.

Freight Factoring or Transportation Factoring is being used by almost every small to midsize  trucking company to improve cash flow, pay operating expenses, online credit checks, fuel cards, fuel discounts, fuel advances, buy equipment and insurance.

Larger fleet companies may have better results with asset based lending (ABL). Lines of funding can provide the same or equal benefits as bank funding, but are easier to get. This makes asset based lending ideal for midsize fleets that have cash flow problems and need funding.

Asset based lending enables you to leverage your current assets, like accounts receivables and equipment to get the cash you need right away. (ABL) is flexible and can be used for improving cash flow, pay operating expenses, buy equipment and other assets, leverage buyouts and turnarounds.

As opposed to conventional loans you may get through your bank, asset based loans have ew covenants and can be approved quickly. On average, the application and due diligence can be done in a couple weeks. This is ideal for midsize to larger logistics companies that need an injection of cash.

The differences between asset based lending and factoring are: asset based lending is only available to companies that have bigger fleets; Shippers are not usually notified of the relationship, Most invoices are not verified and you handle your own accounts receivables.

LETS REVIEW:

Asset based lending (ABL) is a great option for finance in the transportation industry and can help your business if you have cash flow problems and need immediate funding. They are a good alternative to conventional lender products and provide you with many of the benefits of conventional lending.

To qualify  your trucking company should have a *minimum of $1 million in monthly revenues (if you have less than this, try factoring your open accounts receivable invoices) *Must have invoices from quality shippers, *established invoice tracking and collections process as well as *reasonable finance statements.

Every Factor is different. Make sure and download Factor App to get multiple offers on your Factoring needs. At Factor App – Factors compete to Buy your Accounts Receivable Invoices so you get the best deal. Download Factor App now – and get paid as soon as today!

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Questions you need to ask before committing to a new Factor finance company

You’ve decided to start Factoring your accounts receivable invoices for immediate cash. What are some of the questions you need to ask before committing to your new Factor finance company?

  1. “How long does your contract require me to work with you?”
  2. “Can I leave before the contract maturity date?”
  3. “How much will it cost me to end our contract before the maturity date?”
  4. “If termination fees, how do you calculate those fees?”

Regardless of what the account executive tells you over the phone, make sure and double check the contract. Look for a section called “Term” or “Termination”

TIP: A contract that has no specific length of time specified, that ties you to the Factor is in your best interest.

You need to decide if you want Non-recourse factoring. In our experience, non-recourse is the best. Simply put, if your customer doesn’t pay the Factor, the Factor can’t come after you for the money they’ve already advanced you; hence the term “non recourse”

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True Non-recourse should cover you in everything accept product delivery or service issues. Here are some questions you need to be asking for True Non-recourse Factoring.

  1. “Do I have to sign a personal guarantee?”
  2. “If the Payer goes Bankrupt am I protected?”
  3. “If the Payer doesn’t pay, but didn’t claim bankruptcy am I covered?”
  4. “What happens if the Payer doesn’t pay until after the invoice due date?”
  5. “Will I ever be charged back or have to repurchase the invoice?”
  6. “Do you charge your fee upfront and take it out of my advance or the reserve amount collected at invoice maturity date?”
  7. “Are you holding a reserve?”
  8. “Does my rate increase as the invoices ages?”
  9. “Do I have to Factor all my business invoices with you, or can I Factor select invoices?”
  10. “At what age does the invoice get Charged Back?”
  11. “Is the rate fee FIXED on a Charge Back Invoice or does the rate fluctuate?”
  12. “How soon after the invoice is paid do I get my reserve?”
  13. “What is the cost to get setup with your Factor Company?”
  14. “Is there any application fee?”
  15. “What is the minimum you require, that I have to Factor each month?”
  16. “What if I don’t meet these minimum amounts, what are the fees if any?”
  17. “When do I pay my UCC financing statement fee; Before or after I Factor my first invoice?”
  18. “Will you fund on faxed, scanned or copied documents, or must you have the original?”
  19. “Does the rate increase if the document submitted for funding is not the original?”
  20. “How long do I have to submit the originals before I start getting charged late fees?”
  21. “How much are these late fees?”
  22. “How are short pays and chargebacks handled?”
  23. “How am I notified in the event of a dispute resolution and what is the process?”
  24. “What do you do if the Payer says they paid me directly, but I tell you they did not?”
  25. “Is the Payer required to produce a front and back copy of the delivered check proving it cleared, in the event of a dispute?”
  26. “Can you ACH direct payments to my bank account?”
  27. “Can you split payments; Like half of the advance ACH direct deposit and half to Western Union or Money Gram?”
  28. “Does your contract include provision for Field Audits?” Some factors want you to pay their costs in the event they need to come to you for an audit you in your local city, state.
  29.  “Does your contract force me to pay your attorney fees?”
  30. “What does your UCC filing cover? Is there a lean on the Accounts Receivable or all assets?”
  31. “Do I have to factor all of my customers? Once I start Factoring do I have to include all my customers, moving forward?”
  32. “What are your fees to get me my money? What payment options do you offer, ACH, Wire, Mail Check, Fuel Card?”
  33. “Is there any per invoice fees?”
  34. “Is there any other fees in addition to the factoring fee?”
  35. “Do you pay a referral reward if I refer a new Factoring customer to your company?”

Make sure you’re getting the best offer when Factoring your Accounts Receivable Invoices. Use Factor App – Where Factors compete to Buy your open accounts receivable invoices for immediate cash.

*Copy the Questions above and email them to the top 3 Factors you’re considering. Ask them to replay to each question within an email so you can compare your options and find out which Factor is right for you! 

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Why is factoring your accounts receivable invoices good for business? Under-capitalized businesses struggle to pay bills on time, retain good employees and stay competitive. Factor finance your receivables today!

Business is competitive today! If you’re acting as the finance entity for your customers, by caring their slow paying invoices for 45 to 150 days, your business may eventually be in trouble. Your business needs predictable cash flow to pay bills and stay competitive.

Technology is moving along much faster than in the past. Your vendors, partners and customers expect your business to keep up, get ahead otherwise you’ll be left behind!

Waiting 45-150 days to get paid for services you’ve already finished is bad for business. So what can you do?

You can Factor your invoices by Downloading Factor App to get;

  • Immediate cash for your accounts receivable invoices
  • Factors compete to buy your open invoices
  • You get the best rate and terms, which means more money in your pocket, fast!

Why should I factor?

Factoring is not a loan – by using Factor.bid you are utilizing your business assets “accounts receivable invoices” to get paid fast.

Under capitalized businesses miss out on new opportunities with existing customers and the chance to secure brand new customers. Have you ever wondered how some of your competitors continue to grow larger -year after year?

Factoring your accounts receivable invoices puts cash in your pocket you need to finance your business expansion, cover day-to-day expenditures and pay your employees. Factoring your receivable invoices will help put cash in the bank so you can hire new employees, bid on future contracts, buy new equipment and stay competitive in your industry!

Don’t let your competitors put you out of business because they’re able to grow at a faster pace and take over more of your industry; stay competitive and discover how businesses have been growing for years by factoring their asset based accounts receivable invoices.

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We match you with the top Factors in your industry. Get the leverage you need to negotiate the best deal when factoring, get Factor App!

Industry Invoice Types

  1. Trucking & Freight
  2. Construction
  3. Healthcare
  4. Media
  5. Production
  6. Manufacturing
  7. Staffing
  8. Payroll
  9. Oil & Gas
  10. International Factoring
  11. Wholesalers
  12. Tech
  13. Service Providers
  14. Security Guards
  15. Medical Transcription Services
  16. Pallets
  17. Distributors
  18. Importers
  19. Government Contracts
  20. Apparel
  21. Consulting
  22. Janitorial
  23. Automotive Supply
  24. Machine Shops
  25. Cable Sales/ Installers
  26. Wine and Spirits