Absolute quickest easiest access to more money today by leveraging your invoices!

Absolute quickest and easiest access to more capital for your growing business.

Factor financing (using your accounts receivable invoices) to get immediate cash for your business. Factors buy your business receivable invoices and you get paid within 24 hours of invoicing your customer.

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Can your business use more cash on hand;

  1. to cover payroll
  2. buy supplies
  3. pay day-to-day expenses
  4.  buy new equipment, fuel, repairs and more

Your accounts receivable invoices are an asset and you can use them to increase your daily/weekly/monthly cash flow! If you wonder how competitors and other business affiliates are growing so quickly, you may want to take a deeper look into factor financing.

Below are some case studies of companies that are utilizing factor financing to grow and reinvent their businesses to keep up with demand from today’s ever-changing and evolving customer demographic.

Case Studies of business that are benefiting from factor financing today:

 

Example 1 – Great Customers that pay on time with excellent credit

A solar panel design and manufacturing company has low capital to cover day-to-day expense, but has strong customers with well established credit ratings and payment history. Although the company is profitable on paper, the company’s owner was tired of always having to bank roll short term expenses. Keeping track of all the advances the owner was personally making to the company, and then getting paid back was messy.

The business owner discovered factor bid and was able to get a few offers from the top factor finance companies to buy his accounts receivable invoices for immediate cash. Now the owner is relaxed and his business is more secure with the professional help of the factor for collecting receivables. He now spends most of his time focused on new business accounts and his sales team’s performance and return on investment.

Example 2 – Supplier of Computer Components runs into a cash flow pinch:

A supplier of mobile phone components imports and resells their product to a variety of U.S. based customers. Their forward thinking in bulk purchasing and niche product in an evolving market has lead to significant growth.

As a growing company with a lot of overhead, restricted access to capital and/or line of credit was making it difficult to take advantage of volume order discounts. A flexible invoice factoring arrangement provided a much needed solution that significantly increased the company’s ability to operate, resulting in a jump in quarterly and annual profits.

After factoring for 24 months the company realized it had enough capital to cover purchases but didn’t necessarily want to end their relationship with the factor finance company.  The predictable cash flow they’re able to have by partnering with a factor enables them to be more aggressive and focused on strategic alliances and new growth. They figure, if they fee they are paying the factor to get their money 65 days sooner is costing them less than the profit they’re making from having their money 64 days sooner then why would they stop using the factors money to make money.

This scenario doesn’t work for every business, but it will for most. If your business is making more money than it’s costing you and your profits are climbing, then you’re doing something right and your most likely on your way to increasing your market share and beating our some of your competitors competing for the same business and customers.

Example 3 – A Company is downsizing with the need for finance alternatives

A manufacturing company needs to change it’s business model to keep up with the modernization of delivered products in their industry. Customers promise to keep buying and support the change to ultimately increase sales by reaching new customer demographics while updating their existing customer buyers with more modern products.

The move by management requires the financing for new equipment, additional employees, training and materials that will ultimately squeeze the company’s cash reserves.

The answer is to unlock cash that’s tied up in their accounts receivables for 90 days or more. Once they put the right arrangement in place with their new factor finance partner, they were able to quickly unlock cash that’s been sitting around in their receivables. The company is now highly profitable and attracting new customers on a global scale.

Example 4 – Technology Company

A technology company redirected their team of engineers and developed a new, easier version of their existing product. They also updated their business plan and brought in some new employee talent.

After 16 months of losses and the recall of a bank loan, the company was short on cash and unable to secure another bank loan or source of lending capital. However, orders were climbing and the product’s sales cycle was shrinking which pointed to an increase in positive growth.

The company discovered factor financing, and were able to increase cash flow, allowing the company to strengthen vendor relationships and concentrate on sales instead of collections. After 30 months of factoring invoices for immediate cash, the company is now profitable and attracting large bids of private money for a new growth cycle.

Example 5 – Call center business growing “too fast”

A call center that specialized in handling calls for a rapidly growing computer software company who’s software sales and database was growing exponentially. The call center was able to generate a 40% return per employee after 3-5 months but needed additional working capital to hire more senior staff for training, management and facilitation of all the new customer accounts. The company also had substantial contract in place for additional call services, that would require them to double their staff and working space in the next 3 months. This would result in a huge payroll increase and cash flow requirement right away.

This is a classic example of the need for immediate working capital to grow your business quickly. After reading a blog they found online the company wanted to try factoring their receivables to help liquidate cash tied up in invoicing current customers. They then googled how to find the best factoring company and discovered factor bid.

Factor bid got them a few offers from aggressive factors that were eager to earn their business and take part in their rapid company expansion and growth. Today the company has over 150 call center representatives and services some of the top software companies in the western United States.

If you’re business needs help unlocking some or all of the money tied up in your accounts receivables, then visit www.factorbid.com to get a few competitive offers from competing factor finance companies. Don’t wait 30,45 or even 90 days to be paid, get paid as soon as today!

Is your business on the Go! Download Factor App for your Smartphones

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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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Taking advantage of opportunities for your small business with invoice finance.

Small Business Opportunity

In order to talk about small business opportunities, we need to explore those areas we are not taking advantage of.  For most companies, discovering the power of financing your outstanding/open accounts receivable invoices might be a foreign concept.  How is a piece of paper reminding me that a client has not paid me for work completed going to ever benefit me?  That is a very good question, and we have a very important answer!

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How do outstanding accounts receivable invoices benefit me?

Here is how it works.  You have billed your client for the service/product you have already provided them.  The work completed involved time, money, and resources.  You need paid for that job.  There is now an open accounts receivable invoice sitting on your desk that you need money for.  

You have a few actions you can take to get that money:

  • Do nothing. You always wanted to become a short term lender while your customer’s business grows bigger and more profitable every 30 days your business covers their money owned to you.
  • Call the mafia…what’s that guy’s name again (just kidding!)
  • Call the customer with a friendly reminder that you are closing your books for the month and need them to send in payment – you understand they are just busy!
  • This is ridiculous.  This customer is never going to pay you and you know it.  Call a collections company and have them strong arm the client.
  • Use the Factor App and snap a picture of your outstanding accounts receivable invoice, or upload a pdf copy of the invoice.  Within minutes you will be contacted by  a few of the top factor financiers who want to get you PAID in less than 24 hours!

Why do factor finance companies want to relieve your business of stressful liability, get you immediate cash for open invoices, help your business create an organized and efficient accounts receivable process and provide your business with predictable cash flow so you can grow faster and be more profitable? Because “what’s good for the goose is good for the gander!” Which simply means, the better your business does, the better your finance partner does (the factor).

Having access to immediate cash flow is a powerful business resource today. Remove fear and/or hesitation when bidding for new contracts. Hire good employees that you need to complete jobs faster. Stockpile supplies at a discount. Financing your outstanding invoices is a smart business move and will help increase marketshare. The more of the market your business services, the greater your return on investment will be, ultimately yielding more profit for your business at the end of the year.

Use Factor App on your Smartphones to start factor financing now. Get paid as soon as today!

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Why Businesses use Factor.bid to get the best deal when Factoring!

Business owners that want the best deal when Factoring their open accounts receivable invoices use Factor.bid

Why?

Because when Factors compete to buy your open invoices, you get the best deal when factoring!

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ADVANCE:

A Factor finance company will go as high as 95% of the face value of an invoice. For example, if your invoice is worth $5,000.00 dollars, and the facility reflects a 90% advance, the client will receive $4,500.00 dollars from the Factor finance company upon agreeing to sell the receivable invoice.

ESCROW:

Upon receipt of the 90% advance, the remaining 10% will remain in escrow pending the payment of the receivable by the debtor (your client/customer). The balance remains unused until the invoice is closed.

FEE:

The fee charged on any particular invoice depends on a few key factors. For example, your industry, the payers credit (your client), level of security, risk, A/R turnover, time to pay, etc. Each fee structure is individually established to maximize specific customer benefits and needs. The fee is deducted from the funds held in escrow, once your client pays the invoice in full.

RESERVE:

Once a receivable has been paid the the fee is deducted by the Factor finance company from the escrow account, the remaining balance is placed into a rebate account called a Reserve. The reserve should be released to you at your request or as agreed per your agreement with the Factor finance company.

Why use Factor Bid to find the right Factor for Invoice Financing? 

RATES:

Every Factor has a different fee structure. Depending on which industry they specialize in and how cheap they’ve secured their money; in order to provide you a loan for your invoice financing.

Some Factors offer flat fees and others offer daily rates, so knowing how your customers pay and having the option to choose which type of fee structure is right for you is going to save you money.

Factor.bid is going to shop your invoice to the best factors in the industry that can finance your industry invoice type and are looking to finance invoices today. You’ll then get a few calls from the top factors with competitive offers to buy your invoices.

FLEXIBILITY:

Let’s start with billing procedures. All invoices can be submitted electronically at your computer, or by using Factor App on your smartphones. Most Factors can ACH your money the same day, but how they verify your invoices, pick-up orders and/or Bill Of Lading can all be different. The benefits of receiving a few quotes and competitive offers to buy your open invoices is you get to decide which Factor has the most flexibility and is willing to go the extra mile to earn your business.

PROFESSIONALISM:

You’re going to be working with customer relationship managers, collection agents and maybe even the owner at some point. Finding a Factor that treats you how you want your customers to be treated is the most important thing. Not all factors are the same. Some will be more patient with you and will understand what you’re looking for and others may not. So getting a few solid offers when you’re going into business with someone, is a good thing and may save you a ton of headaches down the line.

TRANSPARENCY:

The highest levels of transparency and accountability are important in building a long lasting partnership with your new lending arm (Factor). Some Factors provide 24-hour access to all your pertinent account information, collection notes, and reserve statements that outline the details of each and every transaction taking place on your account.

Some Factors offer a dedicated account manager that can be reached during normal office hours and will help with back office support. For example, sending Fax, emails and/or even calling customers to remind them about an agreed upon payment and the date payment is due.

Finding the right Factor for your business should not be hard. Factor bid makes it easy for you to get the conversation started by submitting an invoice. From there, all you need to do is relax and select one of the Factors that best fits your business needs and goals. Make the Factors work to earn your business and get the best deal when factoring your open accounts receivable invoices.

REPUTATION:

If you’re searching for a Factor to help finance your business and keep you competitive in your industry, how do you know which one is good? Just because someone shows up at the top of a search on your favorite search engine, doesn’t necessarily mean they’re the right finance partner for you. Wouldn’t you much rather have a few of the TOP Factors, that have been pre-vetted by our Customer Service Team and recommended by other hard working business owners like yourself? If you said yes, then you’re on the right track to getting the best deal when factoring your open receivable invoices for immediate cash flow.

Putting in less or the same amount of effort and getting multiple offers for your open accounts receivable invoices is the smart way to choose the Factor finance company that is right for you. Choose the Factor that best fits your needs today, and doesn’t simply offer a one size fits all approach to financing.

Download Factor App or visit www.factor.bid to start getting competitive offers on your open invoices today!

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Easy business invoice financing (factor finance)

Use Factor App for easy business invoice finance. Factor your open accounts receivable invoices for immediate cash. Cover Payroll, Day-To-Day Expenditures, Fuel Costs, Equipment Repairs, Investments and New Employee Hiring.

Factoring has been around for thousands of years. You’re business invoices are assets and should be treated as such. If you’re tired of using your own personal credit and reserve savings to cover your business costs, factor your open accounts receivable invoices and get immediate cash to help grow your business and keep you competitive in your industry.

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The International Factoring Association (IFA) Annual Factor Finance Conference 2016 Fairmont Princess Factor Bid Exhibitor Scottsdale, AZ

The International Factoring Association (IFA) Annual Factor Finance Conference 2016 Fairmont Princess Scottsdale, AZ 85255 Factor Bid Exhibitor booth #3

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Factors (factor finance companies) -are you attending the IFA 2016 annual factoring conference? Stop by and meet the team behind Factor.bid – Accounts receivable invoice marketplace. Find out how you can get new invoice finance customers every day, right in your inbox. Simple, Smart Factor Finance Customer Acquisition Strategy.

Address: Fairmont Scottsdale Princess,7575 E Princess Dr, Scottsdale, AZ 85255 -Thursday April 14 – Friday April 15

Grow your Factoring business today with Factor.bid

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