Medical transcription factoring is a business funding method that exchanges the unpaid invoices sitting on your books for a cash advance of equal value.
When providing medical transcription services to healthcare facilities, long payment terms may prevent your company from seeing healthy growth results, mainly from lack of accessible cash that’s needed to purchase updated equipment, fulfill objectives and most importantly acquire new clients.
The Factoring Process is simple:
Continue servicing your clients
Send your invoices to the factor
Receive cash in 24 hours
Medical Transcription Factoring – enables your company to keep up with the latest transcription technology, hire additional employees, improve financial health, expand market reach and grow at a successful pace.
Keep in mind that medical transcription factoring is not a loan, which means you’ll avoid accruing any new debt. Regardless if your medical transcription services company is big or small, factor bid gets you a few offers from competing factor finance companies specializing in medical transcription services invoice financing, so you get the best deal when factoring.
The top factors with medical industry expertise and knowledge of accounts payable and receivables are at your service. Factors compete for the right to earn your business. When medical transcription services companies use factor bid to get a few offer for their invoices, factors realize they’re competing for your business and are eager to find the best way to earn it.
Get the knowledge and leverage you need to negotiate the best deal when factoring your medical transcription services invoices for immediate business capital. Increase your cash flow quickly and take advantage of the benefits of factor financing.
Check out Factor App – for invoice financing on the go!
Unlock business capital trapped in your Accounts Receivable Invoices. Don’t wait 30, 45 or even 90 days, get paid for your outstanding invoices as soon as today!
Go to Factor bid – where you’ll get a few offers from factor finance companies to buy your accounts receivable invoices for immediate cash. Factors compete for the opportunity to buy your invoices, and within an hour of submitting an open invoice, you’ll receive a few offers from the top factor finance companies to buy your invoices.
In More Depth -WHAT IS INVOICE FACTORING for Small Business Owners?
When a business creates the option for a customer to pay later or on terms, it’s known as (invoicing) – Accounts Receivable Invoicing. Accounts Receivable is a legitimate form of revenue for all businesses and is listed as an asset in the company’s balance sheet.
Why would a company agree to allow a customer to pay on terms and at a later date rather than COD (cash on deliver) or even up front, out of pocket?
The idea behind offering your customers the ability to pay on terms is;
Customers today demand flexibility. If a business does not have the ability to be flexible- they risk losing sales to competitors in their industry.
Offering terms through invoicing enables the business owner to finalize the sale-agreement rather than allowing the customer to walk out the door to another business.
Customers typically buy more (of whatever it is you offer), when they have more time to pay.
As such many business owners understand that their Accounts Receivable Invoices are a promise from a customer to pay at a later date and time. Yet many business owners have little of no idea the same Accounts Receivable Invoices are in high demand by third parties (called factors) that are interested in purchasing invoices (at a discount) for immediate capital. In many cases cash is made available to the business owner selling their invoices, within 24-48 hours. This practice of purchasing a company’s Accounts Receivable invoices at a discount is known as Invoice Factoring.
BENEFITS OF INVOICE FACTORING include but are not limited to:
The ability for a business to acquire cash (capital) quickly to be used for necessary expenses. Often times small businesses need immediate cash flow to assist in keeping the doors open until they build up a stockpile of available cash flow.
The means of using invoice factoring to generate capital is more attractive than applying for a loan at the bank which can require time and high risk contracts.
Invoice financing (factoring) is considered an asset, and does not add any additional debt to your company books.
Factor finance companies can also assist your business in the accounts receivable collection process, including back end office and bookkeeping help.
Factors can provide access to credit checking of new potential customers you’re thinking about working with, to help reduce your liability in working with bad companies that may not pay their bills on time.
Before now – locating a factor finance company that specializes in and even services your industry –as well as getting the best deal when factoring our receivables was extremely difficult; leaving business owners thinking, ‘Did I get a fair deal when signing on with my new factor finance company.. ?’
But today, locating a factor finance partner has gotten much easier, a lot faster and more convenient; not to mention being able to get a few competitive offers to make sure you’re getting the best deal when factoring.
Tell Me How?
FACTOR BID quickly matches your business with the top factor finance companies in your specific business industry, providing you multiple offers from competing factors, eager to earn your business and buy your open accounts receivable invoices for immediate cash!
When factoring companies compete to win your Accounts Receivable Invoices- you get the knowledge you need to negotiate the best deal when factoring. You’re under no obligation at any time to factor and the cost to use factor bid is free and may result in an immediate increase in your business cash flow on hand, in which you can use for whatever you want.
Are You Ready?
Access working business capital today that’s sitting around on your desk or stuck in your online accounting software (in the form of open invoices). Your open invoices are an asset – start treating them as so! Get paid as soon as today! Factor bid
On the Go? Get Factor App and submit your invoices from your Smartphone!
Alternative financing, such as invoice financing on the rise as the economic downturn forces banks to tighten the standard lending reigns.
Business owners are looking for a more cost-effective substitute to merchant cash advance lines, which are coming under increased scrutiny from regulatory authorities within the U.S. and abroad.
Visit Factor bid to get a few offers to buy your Accounts Receivable Invoices from the top factor finance companies.
Top 5 reasons to think about invoice financing:
Access to cash is fast. The speed and simplicity in which you can increase your business cash flow is unmatched by traditional lending options.
The advance rate is flexible – which means you can get a lot of your cash upfront that is trapped in your accounts receivable invoices.
No long term contract, fixed discount rate for each invoice, no hidden fees can all be negotiated when selecting the right factor finance partner for your business capital needs.
Use as you need service. Factors can fund all your invoiced customers or only specific accounts you agree to. Their position is flexible, which makes it easy for your business to start a partnership and start benefiting from a factors bookkeeping experience, knowledge and consistencies.
When you decide to factor finance your receivables, you’re dealing with the decision makers all the way through the experience. Factors tell you what they can do, depending on several variables like; your clients credit, your annual revenue, the cost of money lending today, etc.
As traditional financial institutions begin to “pull back” from actively lending new money, it’s important for your business to prepare a safety net to ensure predictable cash flow. Insure your receivable money by partnering with a factor finance company so you get paid within 24-48 hours of invoicing customers. Don’t wait 30,45 or even 90 days. Lower your company’s liability today, by factoring your receivables.
To get access to working capital financing and credit-risk protection, go to www.factorbid.com and you’ll get a few competitive offers to buy your accounts receivable invoices, from the top factor finance companies in your industry. Get factor bid and get the power and knowledge you need to negotiate the best deal when factoring your outstanding invoices for immediate cash!
I hear from my friend that Factoring (cash for invoices) doesn’t use my credit score?
Factoring your open accounts receivable invoices can seem like a no brainer. Who doesn’t want instant access to cash they have already worked for and earned? For those of you who are a bit scared that you are going to walk into another situation where your credit rating is going to be scrutinized or that by factoring you are adding more debt to your books — HAVE NO FEAR! On the contrary, if that is what’s holding you back REJOICE! Let me introduce you to the wonderful world of factor financing.
Factoring does not impact your personal or business credit. In fact, factoring does not require you to have any credit history at all. Factoring has everything to do with the people and companies you do business with. You see, when a factor finance company partners with you and purchases your open accounts receivable invoices, their terms are based on the creditworthiness of YOUR CUSTOMER. The Factor will also help you realize if businesses are high or low risk, good or bad for your business.
Here comes the “infomercial” pitch: But WAIT there’s more!
That’s right! If you factor within the next 24 hours, you can:
Restore or INCREASE YOUR CREDIT RATING
Spend less time in the office
Grow your business
How can factoring restore and/or increase your company’s credit rating? Easily. The key to having a great credit score is paying your bills on time and not carrying too much debt. As a business, we understand the challenges of waiting too long for customers to pay. You need cash to cover day-to-day business expenses, pay employees and more. Less cash on hand means an increase in late payments from your business which can become a day-to-day nightmare for your company and even personal credit score. Once your late on a few bills and even worse behind on payments every week, it ends up costing you a lot more to bail yourself out.
Having a good credit rating is important for your business. Yes, factoring your open accounts receivable invoices allows you to have access to unlimited cash flow (limited only by how much business you complete). However, there might be a time when you need to borrow a larger sum of money as you grow and expand. For example – In the case of a start-up, it’s usually the personal credit of the business owner themselves that is on the line when trying to get a traditional bank loan. But what if the personal credit of the business owner is just okay, and doesn’t meet the requirements of the local lending bank? You don’t get the loan, that’s what happens. So if you’re looking to get paid from assets you’re business already owns, like your accounts receivable invoices then give factoring a try, you’ll be glad you did and you’ll also be working toward establishing the creditworthiness of your business.
At Factor Bid, we thought of the hard working business owner who needs to cover daily expenses and dreams of growing their company to the biggest and best. Yes, we are awesome at what we do. How awesome are we:
We personally know and work with quality factors within every industry
We take two minutes of your time instead of hours spent traditionally in researching factor finance companies
At Factor bid -factors compete for the opportunity to buy your open invoices, so you get the best possible deal when factoring your accounts receivable invoices.
Don’t wait 30,45 or 90 days, submit your invoice at factor bid and get paid as soon as today for your outstanding invoices.
When factors know their competing for your business at the same time, they’re more likely to give you their very best offer right out of the gate in order to win your business, which means a better rate, better terms and more money in your pocket!
Factoring on the GO!
Download Factor App – the only factor financing app that gets you the most money for your A/R invoices.
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!
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!
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.
The International Factoring Association (IFA) Annual Factor Finance Conference 2016 Fairmont Princess Scottsdale, AZ 85255 Factor Bid Exhibitor booth #3
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
Why is there a constant fight to get paid for services rendered? You send out your Invoice to get paid, so why do customer ‘slow pay‘ accounts receivable invoices?
Let’s begin with the process! You’ve performed a great service and/or delivered your product to the customer. What happens next? You kindly ask to be paid for your hard work. By asking we mean – you open your free invoice generator software, input the customers details and invoice amount, review to make sure you’ve got it just right, save as PDF and send for payment.
Now what? You wait; and wait and wait and wait until your client makes time to pay you. Does waiting to be paid add stress to your business? If you’ve got open invoices that you’re waiting to be paid for, how do you cover daily/weekly business expenditures?
You Factor those open invoices for immediate Cash Flow. So what is the best way to factor your open accounts receivable invoices? You use www.Factor.bid -where Factors compete for the opportunity to earn your business and buy your open A/R Invoices for immediate cash.
If given the option, would you take advantage of additional time to pay your vendors? For example, lets take a quick look at the diagram below. Guess which option is most popular, when presented?
Yes, if you guessed “Bill Me”, as in bill me later or after delivery of work, as promised- then you would be correct. Today’s well established and most popular business payment methods are unfortunately right in the way of your business getting paid quicker. You’re at the mercy of your customers. You’re at the mercy of industry standards for B2B payments and accounts receivable invoicing. This is common practice and has been happening for centuries all over the world.
So what can you do? Your business needs cash flow to cover day-to-day expenditures, weekly payroll, growth, investments and maintain sustainability.
FACTOR FINANCE YOUR RECEIVABLES
Factoring is faster than traditional financing, like bank loans and/or lines of credit. You’re open accounts receivable invoices are assets, start treating them as so.
If you want the best deal when factoring, download FactorApp for your iOS Apple and/or Android Smartphone. Factor App is part of Factor.bid -where Factors compete to buy your accounts receivable invoices, so you get the best deal when factoring.
What sounds better – receiving one offer for your open invoices, or receiving a few offers from the top factors eager to buy your invoices right now? If you’re thinking a few offers sounds much better than a singular offer, you’re correct!
What are you waiting for.., use Factor App and get paid as soon as today for open invoices.
Download Factor App now or visit www.Factor.bid to get started and get paid as soon as today for your open accounts receivable invoices.
Immediate cash for open A/R Invoices – 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 flow needs.
Factoring has been around for thousands of years. It’s a quick and stress free way to use your assets (invoices) to access additional cash flow. Why wait 30-90 days to be paid, when you can get cash in 24-48 hours, relieve the liability of having to collect the debt and re-invest the money into growing your business faster.
Who is the best Factoring company for factor finance? I bet it changes daily! We’re going to tell you the easiest and most stress free way to find the best factor finance company that best fits your individual business needs.
There are many variables that go into making the best Factor Finance Companies.
Their Finance Rate (how much you’re gunna pay, in discounted fees)
Their Finance Terms (how long you’re gunna stay)
Their Fee Structure (what kind of fee charges)
Their back office support (Do they help out with Fax, Phone Calls, Emails, Mail, etc.)
Their customer assistance help (can you reach them easily, when you have questions)
Their days to pay (number of days you have to wait for money)
To make it easy for your business to connect with the best factors that match your industry, we createdFactor.bid and Factor App – “yes factoring in an App, Amazing!”
See we feel like, why limit yourself to just one offer, when you can get multiple competitive offers from the top factors! Factor.bid is vetting factors and checking their business practices with our existing customers daily to make sure their not only claiming to be the best and top rated factor but also following through with those claims.
Once you use Factor.bid to connect with the best Factor finance companies, you’ll understand why business that want the best deal and most money when factoring use Factor App!
If it sounds to good to be true, it probably is! Factoring is a financial transaction in which a business sells it’s receivables (invoices) to a third party called a (factor) at a discount.
If your business needs additional cash flow to cover expenses and you’re considering Factoring your invoices, make sure you’ve done your due diligence. Finding the right Factor finance company can be challenging.
Finance Companies that claim to have zero fees and offer immediate invoice financing are not being completely upfront. A lending company has to make their money somehow. Usually the devil is in the details.
If you’re feeling overwhelmed and need help in selecting the best factor, we can help. All you need to do is visit www.Factor.bid and click on the ‘submit invoices‘ button for help in finding the best Factor for your business needs.
We’ve done most of the heavy lifting for you. Once you submit your invoice, the top Factors in your industry compete for the opportunity to buy your invoices. You’ll receive competitive offers from multiple Factors, you decide which offer best matches your immediate needs.
All factors are different and most businesses have different needs when Factoring. Matching your business with the best Factors that can meet your immediate needs is what we do best.
Give it a try today, you’re under no obligation. Factor.bid is free to use. You can also download Factor App to use on your Smartphone.
If you’re not shopping your invoices, you’re not getting the best deal when factoring! Make Factors compete to for your business, get the leverage you need to negotiate a better rate, terms and more money for your invoices.