Paypal invoicing, tap unpaid invoices for immediate business cash

Did you know you can invoice customers using Paypal? Based on popular articles and groups we’ve discovered, Paypal has become a simple and great tool for invoicing.

The SBA has some helpful tips for small business owners, when invoicing customers for payment. According to a 2012 Wall Street Journal survey, 64 percent of small businesses had unpaid invoices more than 60 days old while 20 percent say the problem is worsening.

The overall effects of unpaid invoices is particularly troubling for small business owners – impacting;

  • business growth
  • hiring
  • updates to equipment
  • expansion
  • product development
  • not to mention your ability to pay bills on time

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Paypal has done a good job of making it easy to invoice clients. They remind you to add in details that your customers may need to process your invoices more efficiently.

The Standard information includes your billing address, date and other necessary line items, but don’t forget that some clients may require additional details. Details like a contract number, purchase order, tax ID or account number to help expedite payments. Check with new clients before invoicing them to make sure you are giving them the details they need.

It’s also a good idea to attach your work order, statement of work, contract, or other document that outlines exactly what you agreed to deliver. Make sure the documents are signed. This will help your client’s accounts payable department get the invoice approved and paid.

Avoid the lag:

Help your customers process payments with ease by offering online payment options. Amazon Payments, PayPal and Intuit all offer online payment services that can help you invoice customers faster.

Invoicing Stats:

Up to 64% of 850 small businesses surveyed last year – had less than $5 million in annual gross sales, reported having invoices that went unpaid for at least 60 days, and 20% said delinquencies were getting worse.

Over the past four years, big companies such as Apple Inc., Wal-Mart Stores Inc. and Ford Motor Co. have generally increased the number of days they take to pay vendors, according to Charles Mulford, the director of the Georgia Institute of Technology’s financial reporting and analysis lab.

“If you’re working with one of these large companies as your only customer, they have the power. They can go to somebody else, but you can’t go anywhere,” says William Dunkelberg, chief economist of the National Federation of Independent Business, a small-business lobby.

A Ford spokesman responded that 80% of the company’s $75 billion in annual purchases are paid within 40 to 45 days, a period that hasn’t changed in several years, and the rest are paid based on standard industry practices.

Some business owners say there’s often a trickle-down effect from slow- pay customers. “We have to go back to our suppliers and say we need to extend our terms,” says Chris Shult, president of Bevco Engineering Co., a 60-employee company in Sussex, Wis., that builds control systems for conveyors, MRI machines and other systems.

Mr. Shult says at least one of his Fortune 500 customers, whose name he declined to disclose, is pushing for a 120-day payment term. “The choice they give you is take it or leave it,” he says, adding that the company has invoices outstanding ranging from $50,000 to well over $100,000 apiece.

Since over 60% of small business have unpaid invoices, regardless of how you deliver the invoices, and how detailed and complete your invoices are, you may still be a victim of slow-paying customers. As big companies continue to hoard their cash to stockpile their own working capital, you can circumvent your dependency on slow-pay customers by factoring your invoices.

Tap Unpaid Invoices For Immediate CASH:

Factoring and “Purchase order financing” “trade credit” and “accounts receivable financing “ have emerged as important tools in helping small businesses, importers, suppliers, wholesalers, and distributors to take advantage of profitable deals.

Factor Finance Companies buy your unpaid invoices for immediate cash. You can get paid within hours of invoicing a customer for payment.

*It’s recommended that you get a few offers when choosing a factor finance company that best fits your working capital needs.

Factor Bid – gets your company a few competitive offers to purchase your accounts receivable invoices (unpaid invoices) for immediate cash. Get the best deal when factoring and the most money for your invoices, fast!

Working Capital when you need it…Cash Flow as soon as today for unpaid invoices. Give it a try, it’s FREE! You’re under no obligation to factor.

Visit www.FactorBid.com and select the ‘Get Started’ button.

 

Cash Flow Planning Today’s Smart Business Parachute

Cash flow planning today, your smart business parachute. Nice to have before you need it! Why do some business owners wait until the last minute to fix cash flow gaps that their business is experiencing?

For example; You extend terms to a good trustworthy customer, expecting to get paid in 30 days from the date of delivery. At first the customer is amazing, everything is going great and running smoothly between your two companies, until one day when all of a sudden their payment doesn’t arrive as promised. You figure, ahh it must be a slight oversight on their end. So you make a note to give ’em a call.

A week passes and still no check. So you call and email again and this goes on for about 20 more days. Your note reminding them to pay you now feels more like a ransom letter than a friendly reminder.

So what happen? Well no one really knows at this point. Yes you called and emailed Accounts Payable and they promised the check was in the mail, but still no check. Their slow-pay is now really starting to affect your payroll and business operations. I mean this is a big customer and their invoice amount due is enough to cover a whole month worth of payroll.

There are two ways this usually plays out:

1.) Your customer finally sends the check, 28 days late and you continue with business as usual, however now each time you invoice them after delivery, you have this gut-wrenching feeling in the pit of your stomach, wondering when and if they’re even going to pay. Will you need to borrow money off your personal credit card again to cover payroll if their check is late again or worse yet, never arrives?

2.) The relationship was already fragile and this was the straw that broke the camel’s back.  Your customer is offended that you called and emailed so many times, almost implying that they weren’t good for the monies owed or something.

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In any event, either of the two above scenarios adds stress to a business relationship and can usually be avoided altogether. Yes of course it can, if customers would just pay on time, however it’s a proven fact that some customers just slow-pay and that is how it’s going to be. So knowing that some customers just have it in their business DNA to slow-pay, how can your business protect itself from the negative side affects of unpredictable cash flow in your business?

The answer, prepare your cash flow parachute just encase this ever happens to you. Don’t be caught by surprise and interrupt a good thing you have going at your business. You shouldn’t be punished for working hard because one or more of your customers had slow-pay DNA.

You can unlock cash tied up in your accounts receivable invoices by factoring. Factor finance companies buy your invoices for immediate cash so you get paid within hours of invoicing customers. You won’t have to worry about slow-paying customers, you can continue working hard and growing your business as usual.

Factoring enables you to cover;

  • payroll
  • expenses
  • and invest your earnings faster to help secure more new customers and grow your business faster.

Factor financing grows with your business. The larger your business gets the more immediate capital you can access from your invoices. You don’t need to create friction between you and slow-paying customers, all you need to do is focus on what you do best, running your business and creating new customers relationships.

It’s recommended that you get a few offers when choosing a factor finance company that specializes in your industry. Visit www.factorbid.com and select the ‘Get Started’ button to quickly and easily get competitive offers to buy your invoices for immediate cash. When Factors compete, You Win!

Cash Flow Plan B – business finance awareness

What is your company’s Plan-B and does it cover cash flow gaps caused by slow-paying customers?

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What would happen to your business if;

  • A vendor demanded you pay COD (cash on delivery) and won’t extend terms
  • Your Bank decides to reduces your credit line
  • A client changes its policies from paying Net-10 to Net-45

If your company’s cash flow relies on everything happening perfectly, you have a disaster waiting to happen!

When the unexpected comes knocking you won’t have time to maneuver or look for other options. It’s a good idea to have a Plan-B, that way you won’t be caught off guard by events you can not control.

*Remember – you can’t make payroll or pay vendors with an IOU. So when the unexpected happens you need the ability to keep moving forward. Convert money owed to you from customers to immediate working capital, so you don’t have to worry about cash flow gaps and unexpected annoyances.

With Factoring you won’t need to chase customers each week for payments. The factoring company assists in collecting on-time receivables and increasing cash flow so you can focus on bringing in new customer accounts and the day-to-day business operations.

Factoring gives you access to professional credit checking tools so you can know if a potential new customer is a good candidate for extending terms to.

No more worrying about sudden interruptions, because your plan B provides you access to fast cash when you need it most!

It’s recommended that when choosing the best factoring company, you get a few offers. Factor Bid is a free small business resource that enables your business to Compare Invoice Finance Offers.. Free! Get the knowledge you need to get the best deal when factoring your accounts receivable invoices for immediate cash!

Do your customer slow-pay on purpose, you may be surprised at who’s admitting to it.

Is the long tail of your suppliers killing you? The growth of your company may be suffering due to the actions of slow-pay customers. This is not acceptable and we know a simple and easy way to fix slow-pay accounts.

Over half (57%) of international businesses surveyed by Basware and MasterCard admit to having actively delayed paying their suppliers in the past 12 months.

This can be solved with by enabling working capital optimization also know as Factor financing (receivable invoices) which allows buyers to better manager their cash flow and for suppliers to get paid sooner.

“When three quarters of businesses have more than 50 suppliers and about two thirds send and receive more than 100 invoices a month, a culture of late payments impacts individual organisations as well as the economy as a whole,” said Esa Tihilä, CEO at Basware.

SLOW-PAY RECEIVABLE ACCOUNTS ECONOMIC SUPPLY CHAIN KILLER

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When asked –

  • Three quarters (70+ per cent) of decision makers think late payment is a fact of business and will always happen, despite 90 per cent acknowledging that payment delays have wider repercussions for businesses, such as the ability to pay staff or reduce investment.
  • Only about 1 in 4 businesses today have automated processes to manage payments efficiently
  • Two thirds (67 per cent) acknowledged that they have used payment terms as a strategic tool to help manage cash flow

If your business is tired of slow-pay accounts and strenuous cash flow gaps then click here to compare invoice finance offers..FREE! Unlock cash when you need it, as soon as you need it! More working capital at your fingertips in a matter of a few hours.

NOTE: LOUDHOUSE surveyed 1,015 strategic decision makers with a view of both Accounts Receivable and Accounts Payable processes and issues across ten countries (Sweden, Finland Norway, Germany, UK, Denmark, Netherlands, Belgium, US and Australia) in mid-2014 to gather the above metrics.

Alternative finance programs to allow for the financing of invoices for goods and services that have not been performed (Pre-Billing)

Finding a factor finance company that allows for the financing of invoices for goods and services that have not been preformed (Pre-Billed)

Factorbid.com can help! We get you a few offers from the top factoring companies in any industry. Locating a few factors that specialize in any specific industry is difficult. Fortunately we’ve been in the small business financing industry for years, even before we designed and deployed our online mobile enabled matching service called factor bid.

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Take advantage of years of experience that we have in working with the top factor finance companies in every industry. Factor bid quickly and securely matches your business industry financing needs with factor finance companies that specialize in your industry, so you get the most competitive offers right away.

Challenges of Invoice Financing:

Pre-Billed Invoice financing – If your trying to factor an invoice for work that has not yet been completed or the product has not yet been fully delivered, most factoring companies will determine this type of invoice as UN-FACTORABLE until the work is completed or the product is delivered.

SOLUTION:

Factor bid works with all the top factor finance companies that offer hybrid factor financing programs that can factor PRE-BILLED invoices under certain conditions.

For Example;

  • Advance of the full invoice amount up to 80-85%
  • Rates in as short of 10 day increments, 15 days on average
  • 50% of the advance to be made day 1, the balance on day 16
  • Verification to be made on a case-by-case basis
  • Most industries accepted
  • First security position is required
  • Can work with other forms of financing in place with proper subordination and subject to credit approval

Total processing time for these type of hybrid financing models can take a few days longer than standard 24 hour processing. To get a few offers from competing factors and see which hybrid program fits your business financing needs, visit factor bid website and select the “Let’s Get Started” button.

 

Smart business owners know – it takes money to make money

If you’ve been in business long enough, it’s because you know it takes money to make money. You need cash flow to purchase supplies, hire employees, pay rent, cover payroll,overhead and other day-to-day expenditures that arise at a moments notice.

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What does the impact of FACTORING do for you?

Let’s take a quick look at your current business expenditures and profits and then add in factoring to see if the saying holds up “It takes money to make money!”

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As an example from the diagram above –  you can see that part of making more money each year is having more annual sales and additional labor costs to help facilitate company wide growth.

Factor finance companies want you to be successful. The better you do, the better they do. What it boils down to for most smart business owners that already figured out how to unlock cash tied up in their accounts receivable invoices is if you expect to grow at a competitive rate, then you need a financial backer like a factor finance company.

Factoring doesn’t add debt to your books, since accounts receivable invoices are an asset on your balance sheet. Unlock capital that’s trapped in your accounts receivables and start growing your business at a faster and more profitable rate today!

Remember – not all factor finance companies are the same. Visit www.factorbid.com to get a few competitive offers from the top factor finance companies that specialize in factoring invoices in your specific industry.

When factors know they’re competing to earn your business you get the most competitive offers to earn your business!

Factor App – invoice financing for business’ on the go!

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Download Factor App on your iPhone for Invoice Finance Offers

Download Factor App on your Android Smartphone for Invoice Finance Offers

Increase company cash flow in 3 easy steps

Imagine what you could do with your money if you didn’t have to wait 30, 45 or even 60 days. Your business can get the revenue owed to you in accounts receivables within 24 hours of invoicing customers.

Step 1 – Visit www.factorbid.com

Step 2 – Submit an open invoice

Step 3 – Be available to receive competitive offers

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Your business accepts terms, like most competitive small-medium sized businesses in North America. Let someone else finance your customers net 30, net 45 or net 90. Use your earned money to wisely expand your business to increase marketshare and grow faster.

How? With Factor Financing.

Unlike banks, Factor  Finance Companies don’t hold you to a long-term loan backed by personal collateral. Factors simply get you the money you’ve already earned 30 to 90 days sooner! Factoring your accounts receivable invoices will help fix cash flow gaps immediately without digging you further into debt.

Factoring uses your business assets (accounts receivable invoices) to get you immediate cash! So what would you do with predictable cash flow on the first of every month. Opening up your accounts and seeing a consistent stream of positive cash flow; no more waiting for slow-paying customers to send you a check payment.

How to get started! Simple, visit Factor bid and click the Get Started button on the home page. You’ll be directed to login to a secure page, upload an invoice, tell us the amount of the invoice and what industry your company is in. Within the hour you’ll have a few of the top factor finance companies contact you with their very best invoice financing offers.

Don’t wait 30,45 or even 90 days, get paid as soon as today! 

Factoring Helps With:

Working Capital – cover payroll, day-to-day expenses, fuel, supplies, repairs and more

Growth Opportunities – accept more new business and increase you annual revenue

Maxed-Out Credit Line – factoring is asset based and uses your receivable invoices

Government Suppliers – purchase order financing and letter of credit

Payroll Funding – stop stressing about covering employees checks

Slow-Pay Customers – stop financing your customers, while your company struggles

Bank Turndowns – check out factor financing

Undercapitalized Companies – need immediate capital to keep your business competitive

High Customer Concentrations – flexibility in customer payments

Seasonal Business – produce and other seasonal items in demand

In Need Of Vendor Guarantees – cash  positive factor partner

IRS Issues & Tax Liens – pay off costly interest payments and liens

Operating Losses – pay down bad debt to keep your business running strong

Is your business in the transportation industry or always on the go? Grab Factor App and within a few clicks you’ll have competitive offers to buy your accounts receivable invoices.

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Factor App for your Apple iPhone

Factor App for your Android Phone

 

Aerospace Aircraft non recourse factor financing offers

Are you affiliated with Aerospace / Aircraft industries? Check out offers from factor finance companies that specialize in Non-Recourse Factoring and Purchase Order Financing for Aerospace-Aircraft Suppliers.

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Image Credit Wikipedia / UAV

Is your business experiencing slow-pay on your outstanding Aerospace – Aircraft accounts receivable invoices? The Aerospace and aircraft supply demand is on the rise, accelerated by emerging technologies such as UAV or (Unmanned Aerial Vehicles), commercial drones and more. With expected compound annual growth rate pushing 11% followed by global commercial aircraft aftermarket parts exceeding 6% over the next 5 years, access to large amounts of working capital are essential in increasing market share.

  • IRS Issues – no problem
  • Start-Ups – okay
  • Client Concentration – fine
  • Bad Credit – get qualified today

Manufactures, importers and distributors need access to immediate working capital to stay competitive and deliver supply as demanded by the aerospace industry. Don’t let your business be squeezed by slow-paying customers with Net 30, 45 or even 60 days fulfillment payoff terms. If your business is experiencing overwhelming costs from payroll, new equipment purchases, raw material supplies and other operational expenditures you may want to think about factoring your outstanding invoices for immediate business capital.

If you’ve been turned away and told your business does not qualify for traditional lending, don’t be discouraged. Take advantage of this high growth opportunity market and partner with a factor finance company to get access to money tied up in your open accounts receivable invoices.

Explore Non-recourse factoring and purchase order funding in aerospace and aircraft to improve working capital to remain competitive and profitable for years to come. No need to finance your customers, let a factor finance company do the financing while you focus on grabbing more market share and new contracts as quickly as possible.

Visit www.factorbid.com to get a few offers from competing factor finance companies to buy your outstanding Aerospace / Aircraft receivable invoices for immediate cash. Increase operating capital today with factor financing at factor bid.

Factoring (invoice finance) what is it and how to get the best deal

Accessing business capital for businesses of any size can be a stressful undertaking. Traditional bank loans can take weeks even months to become available, and even alternative lenders may charge high interest rates for the convenience of fast cash.

When it’s all said and done getting access to ongoing business capital to run your business can be challenging. If you take into account all the paperwork and time involved in setting up a relationship with a traditional lender, not to mention -it may take months before you even get an answer of whether or not you’re approved.

If you’d rather not have to wait and go through all the hassle of traditional loans and le, you may want to consider factoring (invoice financing).

WHAT IS FACTORING

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. (see full details at wikipedia)

Factoring is an alternative method of financing that allows business owners like you to sell your invoices, aka your accounts receivables for immediate cash!

HOW TO GET THE BEST DEAL

If you’ve made up your mind and are ready to start factoring your invoices for immediate cash, visit www.factor.bid to get started. At Factor bid -factor finance companies compete for the opportunity to buy your invoices. You’ll get a few offers from the top factor finance companies. When factors compete to buy your invoices, You Win!

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Not all factors are created equal. Different factors specialize in specific industries, and can’t always give you the best deal in your industry. Trying to locate a few factors online that do specialize in your industry is time consuming and can be a frustrating experience.

Factor bid quickly matches your submitted invoice with a huge database of factors that specialize in your industry. You’ll be contacted by a few of the top factors with their most aggressive offer. With Factor bid you’ll get the knowledge and leverage you need to negotiate the best deal when choosing your new factor finance company.

When factors know they’re competing to earn your business (factor bid) they’re going to give you a competitive offer when offering to buy your invoices. Factors want your ongoing business for as long as you need cash flow to grow your business, cover daily expenses, cover payroll, buy supplies and even invest in new business opportunities. If you contact a factor on your own by calling them or filling out a form on their website, you’re only going to receive one offer, instead of a few competitive ones!

Having access to cash within hours of invoicing a customer is a smart business practice. Even if you don’t need cash now, get set up with a factor so when you do need it, you can get paid immediately and access your cash, instead of waiting weeks or even months like you would have to with traditional bank loans.

HOW FACTORING FUELS GROWTH

Business owners with capital tied up in large purchase orders can benefit from factoring. For example -If your business doesn’t have cash to purchase supplies needed to fill an order or money to pay the employees salaries to fill new orders, then factor financing can help. If your outstanding invoices are making it difficult to keep up with new orders and even putting your growth trajectory at risk, then find out how factoring your invoices for immediate cash flow can help keep your business on the track.

Factoring your open receivables will unlock cash trapped in your invoices. You’ll also receive help from factors in simplifying your accounts receivable process. There is no collateral required to work with a factoring service, and the factor uses your customers credit rating and payment history, not yours. So if you’re a new business and are thinking you won’t qualify for financing with a factor, you’re wrong. Factors use your receivables (which are an asset) in order to get your the cash you need to make important business decisions today. Stop waiting 30, 45 or even 90 days, get paid as soon as today!

CONCLUSION

Factoring may not be the right fit for your business. However, if your day-to-day operations are suffering due to large cash flow gaps from outstanding invoices, then the option of getting a few offers for your receivables should be considered.

When you use Factor bid to connect with factors that specialize in your industry, you’re under no obligation to factor. You’ll get a few competitive offers from factors that are eager to earn your business. You decide if the offers are right for your business and then use the competitive offers to negotiate the best deal when accessing immediate cash for your business.

You want to work with someone that you trust and is transparent. The best way to do this is to use Factor bid. When factors know they’re competing for your new business, they’re going to be more likely to give you their best offer right out of the gate, because they know if you’re using Factor bid, you’re getting competitive offers at the same time.

It’s important that you view factoring as a financing strategy conducted over a period of time. Within this time, realize that factoring can help your business expand or recover while achieving long-term goals. The potential downside to any source of financing is that the fees may add up over time, and end up being more expensive than a traditional bank loan; that uses your home or some other large asset as collateral. However the higher cost upfront, may be worth it for immediate access to cash you need to secure new customers, cover business expenses and pay employees that are working to make your business more profitable. It may also be worth it not to use your personal savings and/or assets, like your home as collateral. Factoring your invoices don’t require any form of personal guarantee and may be just the solution to help your business reach the next step in your growth plan.

FACTORING TYPES YOU SHOULD KNOW

There are two classifications of factor finance services:

Non-Recourse factoring: NonRecourse factoring releases the business owner from liability for delinquent receivable accounts. In a non-recourse agreement the factor is taking on more responsibility and legwork in collecting outstanding owed receivable money. This type of factoring requires more attention to your account, more in-house and outsourced resources they may need to use to collect the debt, therefore is more costly. Also the creditworthiness of a business’ clientele will be more closely scrutinized in nonrecourse factoring.

Recourse factoring: Recourse factoring is the most common type of factoring today. Factors fund your invoices but require you t provide a refund on any invoices that remain unpaid past a certain amount of time, that they have fronted you money on. Since the business owner assumes the risk with recourse factoring, there is a wider range of more competitive rates and a lower cost to you to access immediate cash as needed for your business.

Bottom line is, business owners want to get paid for their work right away. The job isn’t considered complete until the customer has paid the invoice and the check has cleared the bank. So to keep your cash flow predictable and your stress levels low, visit Factor bid, submit an open invoices from your business and within the hour you’ll have offers from the top factor finance companies, eager to buy your invoices.

Once you’ve selected the best offer from the factor finance company that best fits your needs today, you’ll have a savvy partner (factor finance company) that will help you streamline your accounts receivable collection process, check the credit of new potential customers you’re considering doing business with and access to cash within hours of invoicing customers.

Get going on increasing cash flow for your business today, Get Factor.bid

Is your business mobile? Download Factor App and submit your accounts receivable invoices via your Smartphone or Tablet.

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Factor App for your Android Smartphone

Factor App for your Apple iPhone

Invoice financing, also know as factoring, helps companies get cash in exchange for their outstanding accounts receivable invoices.

Could your business benefit from an injection of new cash flow? Invoice financing, also know as factoring, helps companies get cash in exchange for their outstanding accounts receivable invoices.

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How does invoice factoring work?

There is no big secret to factor financing (selling your invoices for immediate cash). To access invoice financing a business simply needs to providing goods and/or services to other creditworthy businesses on terms (invoicing)

What does the typical Factor Financing cycle look like for your business?

  • Once you’ve completed your service or delivery of goods you’ll invoice customers as usual.
  • Depending on how much capital your business needs to access, will determine which customer invoices you decide to factor.
  • You’ll submit your open invoices to the factor along with any additional supporting docs you’ve agreed to provide for specific customers.
  • Within 24 hours of verification, the factor finance company will wire or ACH up to 85-95 percent of the gross invoice to your account.
  • In the normal course of business, check from your customers will continue to be payable to your company, however may be mailed to a specific mailing address that your factor finance company has set up. There are also other ways a factor will accept payments on your behalf – this is an important detail you need to discuss with your new factor finance partner.
  • Once the factor receives payment from your customer (in full) they will post it to your account. They then remove the amount that was initially advanced to you (to cover what they fronted you) plus their agreed upon fee.
  • You’ll receive daily comprehensive accounting information so you can review the factors advances and customer payments.
  • You’ll also have access to a suite of tools that can help you check the creditworthiness of potential new customers you’re considering working with.

Factoring your outstanding invoices is a symbiotic relationship for your company and the factor finance company. Factoring is not like a bank loan, where you need to put up personal equity or credit. The factors are using your receivables as collateral and the more your business grows the better you and your factor finance company does.

Also don’t forget that factoring your invoices and getting paid within 24 hours for your open invoices reduces your liability in collecting outstanding, late or non-payments from your customers. Make sure you talk to your factor finance company about non-recourse factoring vs recourse factoring before deciding which type of agreement is best for your business needs.

Now that you’re ready to start factoring – visit www.factor.bid to get a few offers from competing factor finance companies for your open invoices. When factors compete you get the best deal. Factor bid is free, enjoy!

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www.factor.bid