Source of funds and your business growth

Once you know your needs, you need to determine where the money will come from (source of funds). Don’t overlook this important piece of your business planning. Of course the idea is for your business to generate enough cash flow to pay for business expenditures plus your personal living expenses and more.

Assets:

To start – list any assets and cash that you are contributing to start-up or for expansion. Show the full amount of any lease, loans, investments by partners or other investors, etc.

Personal Requirements:

List funds you need to meet your personal living expenses. This will help in determining your projected cash flow each month or quarterly.

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Cash Flow Projections:

One of the things to remember in preparing your business cash flow projections is you’re not trying to determine profit or loss yet, but instead the timing of money coming in and going out of your bank account.

Sales Forecasts:

The sales forecasts you’ve done are formulated to carry forward to your ‘Cash in’ – providing an estimate of cash in your business. This helps demonstrate any terms you may provide to your customers for payment.

example; If you agree to accept payment in 30 days, a sale in February will show up as cash to your business in March under line item “Accounts Receivable”

Cash Flow Gaps:

If at the end of your lists, you see cash flow gaps, places where you may be short on funds during a specific time of the month / year, you may need to consider alternative financing (factoring) to help cover those gaps.

Remember sales may vary during peak sales season vs low activities that can occur during slower times of your business cycle or even when vacationing takes place.

Accounts Receivable:

Accounts receivable is a legally enforceable claim for payment held by a business against its customer/clients for goods supplied and/or services delivered in completion of the customer’s order. These receivables are generally in the form of invoices raised by a business and delivered to the customer for payment within an agreed time frame. Accounts receivable is shown in the business balance sheet as an asset.

Factor Financing Receivables:

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.

Compare Invoice Financing Offers.. Free:

It’s recommended that you get a few competitive offers when deciding which factor finance company best fits your business financing needs. Factoring your receivables will help your business access immediate source of funds and cover any problematic cash flow gaps.

Factor Bid:

Factor Bid is a free online resource for small to mid-sized businesses. Visit www.FactorBid.com to get started comparing offers from competing finance companies to buy your accounts receivable invoices for immediate cash. No more waiting Net30 or Net45, get paid for your accounts receivables within 24-48 hours.

Cash flow when you need it most, payment as fast as the next day!

Factor Bid – Compare invoice finance offers.. free!
Cash flow when you need it most, payment as soon as the next day!
#factoring (invoice finance)

Do you invoice customers for payment? Discover how in just minutes you can unlock money trapped in your invoices. Turn open invoices into immediate cash flow.  Fast | Easy | Secure www.factorbid.com

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If you don’t invoice customers for payment follow this link to see other types of small business financing offers!

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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How to fund your small business.

HOW TO FUND YOUR SMALL BUSINESS!

Starting your own business for the first time can be quite similar to being a first time parent. You are so excited the baby is coming. You went to all appropriate doctor’s appointments, guessed at the sex of the child, painted a nursery, and even had a baby shower garnishing the support of family and friends. Delivery time: The baby is born. You love the child the minute you laid eyes on him/her. This baby is yours and you are the one entrusted to its care. From day one, it is apparent the infant can do absolutely nothing on its own and you are the sole provider to help it grow. Sure, there are family and friends around to help, but the brunt of raising the child is yours. Within one month, you are sleep deprived, your thoughts consumed by the responsibility you must diligently undertake (with love). It is worth it. You love this child and they love and depend on you to nurture it.

Isn’t this much like our first experience of starting our own business? You begin with this seed of an idea. It begins to grow into a business model and you believe that with the right conditions, this small business could really flourish. You visit the small business borough in your local area, purchase some books on starting your own business, bounce the idea off of family and friends hoping to gain support, and take the step to register your business name with the local and federal government.

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Then it happens: HOW TO FUND YOUR SMALL BUSINESS?

 Scenario 1: You are providing a product/service by yourself and do not have the time to do the work AND generate new clients AND work the office.

 Scenario 2: You have a plethora of clients that want your product and want it now. You are a one to two man show and simply cannot fill the volume. You need more people to handle the work load, but it is a big risk. What if you are not paid for your product/service on time and now have to pay staff with funds that are locked up on some customer’s desk for work you already delivered?

 Scenario 3: You NEED the equipment or manpower necessary to take your business to the next level. Where are the funds going to come from? How are you going to afford it? You already have quite a bit of money invested in other assets.

ACCESS YOUR CASH!!!!

Do you know that you can get paid NOW for money owed from your open accounts receivable invoices? What would your business look like if you had access to the money you need? Right when you need it! Why incur more debt? No one wants more debt on their books, like you get with traditional lending resources like bank loans and/or a line of credit!

How Does Factoring Build My Business?

Factor finance companies are eagerly looking for small business owners like YOU to pay you cash TODAY for your open (outstanding) accounts receivable invoices. That paper on your desk…yes…the one you have been staring at for the past 60 days…IS WORTH MONEY!!!! You have golden eggs on your desk but all most companies see are rocks.

HOW DOES FACTOR.BID WORK?

We are SOOOOOO glad you asked! Factor.bid matches small business owners, LIKE YOU, with factor finance companies that want to buy your invoices for immediate cash. Cash that is available within 24 hours!!! You submit one of your open invoices (it’s easy: snap a picture, using Factor App, or upload a pdf copy), and within a few minutes you’ll have offers from the top factor finance companies in your industry to buy your accounts receivable invoices.

PLAY THE GAME!!!

Enjoy yourself. Have fun! Enjoy the game and play your cards well. Only pick the best hand offered. Put on your poker face! Check out the hand of the guy next to you, and let the other player know what it was! See if they are willing to provide you with better terms. All the factor financiers know you are going to get paid for that open accounts receivable invoice sooner (with them) or later (on your own). They want you to get paid SOONER! And, they want to help you do it!

FOLD

If you are not confident of the hand dealt to you- FOLD! You are under no obligation to play the game. Just don’t ante up. Fold and walk away. You are free to decide whether their offer is right for you and your business. Maybe this is the first time you are trying your hand at the game? You tried it! AND liked it (we know you did)! Now you want to go a few more rounds to gain the confidence you need to make the best informed decision, and go with the factor financing option that is right for you.

HOW MANY OUTSTANDING ACCOUNTS RECEIVABLE INVOICES CAN I SUBMIT?

As many as you have sitting on that desk of yours collecting DUST AND NOT MONEY! Send 1 to 1,000! Remember: Any open accounts receivable invoice is YOUR MONEY ALREADY EARNED that is UNAVAILABLE to use for your important business expenses. It is nice to feel important and loved. So, while your Accounts Receivable Administrator is feeling unloved and unappreciated by clients that are NOT PAYING YOU, these factor finance companies appreciate your hard work! They LOVE that you completed your job! They love that you are successful! They want you to continue to be successful and grow! THEY WANT TO HELP YOU! They want to call, talk to you, partner with you, and UNLOCK THOSE FUNDS!

ADDED BONUS

There is a bonus round to this game. Once you accept an offer of a factor financier, they will actually call the companies on the open accounts receivable invoices who are holding on to your cash and give them a friendly reminder to pay you. As the clock ticks, they will continue to partner with you to get those funds released. Now your Accounts Receivable Administrator is free to do all the other work that is piling up on their desk. Your clients know you have a partner helping you get payments in a timely fashion.

So, go to Factor App and snap that picture or download that open accounts receivable invoice. Marvel as your small business grows from infancy, childhood, young adult, and onto full maturity.

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