Grow your Small Business with financing help

How to grow your small business. Small to Mid-Sized Businesses are always looking for strategic ways to grow and become more profitable.

A good rule of thumb, make sure you have your capital contribution locked down as one of your very first preparation steps.

Funding can come from a variety of sources, including personal funds, a bank, outside investors and your accounts receivables.

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The First 3 Funding Options You’re Most Likely Already Familiar With:

  1. Personal Funds – Reach into your savings to fund your business growth, hire employees, cover day-to-day expenses and so on.
  2. A Bank – Drive down to your local bank, fill out paperwork and wait to see if you qualify for small business financing.
  3. Investors – Work up a business plan, executive summary, proforma, 5 – year profit and loss projections and start shopping your idea around to potential incubators and/or angel investors.

But number 4 you may not be as familiar with. Using your accounts receivables (money your customers already owe you) to finance your business growth. Get paid faster by reinvesting your earnings sooner with invoice financing.

Invoice financing has been around forever it seem, and small startups to huge companies like Snapple use invoice financing to increase their daily working capital and grow their businesses more quickly.

How Does Invoice Financing Work?

It’s pretty simple really. You invoice your customers for payment, and typically they send you a check within 30-45 days. What if you could instead invoice customers and get paid within hours! With invoice financing you can!

Invoice financing uses assets from your business (your accounts receivable invoices) to get your business immediate cash flow to hire additional employees, afford business expenditures, cover payroll, service new accounts and keep your business competitive in your industry.

If you’re not utilizing your invoice receivables as assets and your competitors are, they may be getting a leg up on you by affording them an opportunity to service new larger customer contracts and extend terms to those larger customers.

Don’t be forced to use your own profits to fund your customers business growth when offering net-30 to net-45 terms, instead use an invoice financing company and their money to fund your terms and strengthen your customer business relationships.

An invoice finance company will buy your invoices for immediate cash, so you get your money immediately and can reinvest in growing your business faster instead of waiting for payments while your customers use your profits to grow.

If you’re comfortable with the idea of selling your accounts receivable invoices for a small discount, in order to get paid immediately, then you should explore the benefits of invoice financing.

Get A Few Offers To Buy Your Accounts Receivable Invoices For Cash!

It’s recommended that you get a few offers when deciding which invoice financing company is right for you. You can visit www.factorbid.com and within a few minutes, you’ll have a few competitive offers from invoice finance companies to purchase your accounts receivable invoices for immediate cash. Factor Bid is free online business resource that you can use to get competitive offers from finance companies. You’re under no obligation to use any of the companies competing for your business. Factor Bid is completely free.

Get the knowledge and leverage you need to negotiate the best financing deal for your growing business at Factor Bid.

On The Go – Grab Factor App For Fast Invoice Financing Offers!

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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!

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.

Here is what you need to ask yourself when seeking more profit from your business

A businesses desire to scale shouldn’t be entirely based on demand for their product or service. Demand will certainly play a large roll in how or when a business will scale. To Scale your business effectively means anticipating demand, not reacting to it.

If a company acquires two or three new clients and then realizes it can not fulfill their demands, business growth efforts are likely to collapse. This kind of activity leaves room for competition to move in and service unhappy or under-serviced customers.

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Predictable cash flow provides a business the flexibility it needs to stay competitive, grow quickly, fulfill new customer demands and generate more profit.  Do you know what your predictable cash flow is?

How Does A Business Realize Predictable Cash Flow:

Build in sustainability and scalability in order to make sure future cash flow is predictable. Examples;

  • Lock in customers – Offer incentives, sign contracts, improve customer experience to ensure customers are incline to work with you over the long haul.
  • Implement a consistent sales and marketing process – Design a process, train  your sales staff, put performance metrics in place and hold your team accountable.
  • Make delivery of your products and services scalable and repeatable – learn from your mistakes, identify cash flow gaps within your sales cycle and figure out how to eliminate existing problems.
  • Free up cash flow from slow paying customer accounts – Factor finance your accounts receivable invoices to get money your customers owe you today, instead of waiting 30 or more days.
  • Once future cash flow becomes more predictable, fulfilling new larger client accounts and efficiently servicing existing client accounts becomes much easier.

Don’t worry about the cost of doing business along the way. It takes money to make money and scaling a business successfully is challenging; mistakes will be made and you may even overspend occasionally. Learn from your previous business activity and implement a strategy to avoid similar mistakes the next time around. Hire people to help you strategize, attend local small business events to discover new ideas and most of all keep a positive frame of mind.

To get access to immediate working capital you may need to pay as you go so you can profit as your grow! Leverage assets within your business, like your accounts receivable invoices or promised payments, so you can increase cash flow and go after larger new customer accounts.

*Free Small Business Finance Resource:

When you’re ready to unlock money trapped in your accounts receivables, visit www.factorbid.com to compare invoice offers to buy your invoices. Factor bid is a free service for small businesses. Factors compete for the opportunity to earn your business and buy your invoices. You’ll get the knowledge and leverage you need to negotiate the best deal and most money when factor financing your accounts receivable invoices.

 

Quick Guide to Invoice Factoring – Factoring enables you to turn the money customers owe you into working capital

Working Capital | Business Cash Flow

What is Invoice Factoring – Invoice factoring (also called accounts receivables financing and invoice discounting) is a smart business fiance tool that gives your business immediate access to monies your customers owe you, on the same day an invoice is generated, so that you don’t have to wait 15, 30, 60, 90 – days or longer -for customers payments.

Access to cash that’s tied up in your accounts receivable invoices enables you to reinvest working capital into your business more quickly.

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Benefits of Factoring Invoices:

  • Take on more new customers
  • Expand your business operations
  • Cover payroll and hire more new employees
  • Pay suppliers to receive a volume purchase discount
  • Pay off higher interest loans and equipment financing
  • Take on bigger orders more quickly
  • Cover day-to-day operating expenses

Having the ability to access immediate cash and increase working capital will help your business grow more quickly, keeping you competitive and relevant in your industry.

How The Factoring Process Works:

  1. Your business generates a customer invoice. Instead of waiting weeks or months for the customer to pay-
  2. Factor the invoice with your factor finance partner and get same day funding up to 98% of the total amount of the invoice, for a small fee – which could be as low as 1% of the amount of the invoice.
  3. Once your customer pays the full amount of the invoice, the amount held in reserve is also returned to you, minus the factoring fee.

Why Use Factor Financing For Your Growing Business?

Factoring enables you to turn the money customers owe you into working capital, that you can use for your business today. There is not need to wait weeks – months for the chance of customers to pay, instead free up working capital immediately.

More Working Capital Enables Your Business To:

  • Offer generous credit terms to your clients as a competitive advantage
  • Leverage purchasing power to negotiate discounts with suppliers and vendors
  • Improve your ability to meet day to day expenses
  • Take on new customers or fulfill larger orders
  • Reduce accounting -related costs
  • Reduce your companies financial risk from bad debt with non-recourse factoring

A factor (in a non-recourse factoring agreement with your company) assumes the credit risk for the factored invoices. If a customer is unable to pay for credit reasons, the factor will absorb the loss, not your business!

There is also recourse factoring agreement, which is less expensive, because your company assumes more risk. With recourse invoice factoring You may also be required to repurchase invoices that remain unpaid by your customers and cover your own legal or collection costs in collecting payment from non-paying customers.

Common Reasons Business Owners Use Factoring:

  • Slow-paying customers that are creating a cash flow crunch
  • Customer accounts with extended terms, stretching out payment due date
  • To offer longer payment terms for customers, to attract new customers and/or match what competitors are already doing
  • Need access to immediate working capital to take advantage of emerging business opportunities – like taking on bigger clients or fulfilling larger orders
  • Speed up cash flow to meet operating expenses
  • Expedite cash flow to take advantage of supplier vendor quick-pay discounts
  • Reinvest money tied up in receivables more quickly
  • Grow their business faster in order to increase their market share within their industry
  • Make a larger return on investment each year
  • Utilize the experience of the factor finance company to help organize and deploy a more efficient bookkeeping and collection cycle

If you’re ready to see how much more money your business can access every month by factoring your accounts receivable invoices, then simple click the Get Started button at our www.Factorbid.com website.

Factor bid quickly matches your business with factor finance companies that specialize in your industry and are eager to earn your business and buy your accounts receivable invoices for immediate cash.

At factor bid -you’ll receive a few competitive offers from factor finance companies. Review each offer and decide which offer is the best fit for your business.

Factor bid is fast, easy to use and secure. Spend a fraction of the time (locating the top factors) and receive the knowledge and leverage you need to negotiate the best financing deal for your company.

Factor bid is free for business owners and you’re under no obligation to factor. Find out what your financing options are within a few minutes at Factor Bid.

On The Go! – Download Factor App – to get started comparing offers!

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Canadian Distributor of a European Manufacturer Explore Invoice Financing to Avoid Cash Flow Shortage

Canadian distributors, U.S. distributors, etc.. working with European and foreign manufacturer can now access immediate funds for large orders.

The distributor’s products (Ground Screws) are used in construction to establish and secure a foundation in different terrain. As an alternative to concrete slab foundations, the screws allow quick and stable foundations to be installed where traditional solutions may not be ideal.  However, shipping the product from the Czech Republic meant that there was a considerable lag time between when payment to the manufacturer was due and when the distributor could collect from the purchaser.

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Traditional bank funding was not an option due to unusual hurdles such as international currency conversions, the innovative and non-traditional nature of the product and the involvement of somewhat risky construction projects.

Factor finance companies on the other hand are more flexible and are willing to structure a solution involving purchase order financing and factoring that will work well for the distributor, allowing them to create the cash needed to complete transactions for customers in both the US and Canada.
The challenges for the factor lay in working with multiple companies in different countries and funding while waiting a significant amount of time during transport. Once established though, a factor is able to fund and then manage all of the logistics and needs of each participant. A huge added benefit for all parties involved.
Financing solution like this allows particular distributor to capture business they would not otherwise be able to facilitate; while introducing innovative solutions to their customers for a more progressive growth cycle each quarter.
If you’re distribution company can benefit from out of the box problem solving like this, then use Factor bid to get a few competitive offers from the top factor finance companies and start taking on more new business right away.

Get a few competitive offers to get the best business financing deal

A few competitive offers means a lot for your business. Financing is competitive, if you know where to look.

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How do competitive offers help?

  1. Leverage – You get to listen to what each finance company has to offer to find out what your business options are. Use the information provided by different finance companies to negotiate the best rate, terms and most money for your accounts receivable invoices.
  2. Knowledge – Each finance company is different. The amount of money you can access within 24 hours depends on several different business variables. Most factors – one on one will not take the time to explain what all these key variables are, so getting a few offers from different finance companies teaches you a little more each time. When you know the variables in the funding equation, you can negotiate a good deal for your business financing.
  3. Best deal – When finance companies know they’re competing against each other, you’re going to get their best deal today! For example, when you’re using factor.bid to get a few competitive offers from the top companies, they know they have to be competitive, helpful and transparent or they won’t have a chance to win your business.

The goal is to provide a place (www.factorbid.com) where business owners like yourself can get a fair opportunity and a good deal when financing. If you’re trying to call, email or contact every finance company out there, it’s going to be a daunting and tedious task of sharing your business information over and over, answering the same questions hundreds of times and worst of all not knowing the finance companies you’re even talking to are dependable, secure and good businesses.

With factor bid, your experience is fast, easy and secure. We’ve done all the heavy lifting already. Once you submit your invoice or fill out your custom application form; you’re going to get a few offers from the top factor finance companies that are the best and specialize in your industry specifically. They know they’re competing for your business, so they’re offers have to be straight forward with the best funding available today or they won’t have a chance in winning your business.

If you want the most money and best deal when financing your accounts receivable invoices for immediate cash, then click the Factor.bid link at the top of the blog and visit our home page. From their you can click the “Let’s Get Started” button. Within the hour, you’ll have competitive offers to buy your invoices for fast cash.

On the Go! Grab the one and only factor financing app FACTOR APP

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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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Nurse Staffing Factoring (invoice finance) competitive offers

Nurse Staffing Factoring and the benefits for your growing staffing organization without adding any new debt to your books.

Tired of waiting months on end to be paid for your temporary nurse staffing services? Is your ability to meet payroll, hire new temporary nurses and new business expansion being affected by slow-paying clients? If yes, you’re not alone. In fact that’s why nurse staffing factoring exists.

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Nurse Staffing Invoice Finance – It’s easier than you think! Your nurse staffing agency can get the cash flow it needs quickly and without accruing any additional new debt or compromising your present obligations to payroll, taxes and vendor invoices.

The healthcare services industry continues to thrive and grow quickly. Take advantage of financing and give your company a chance to compete with other industry nurse staffing agencies in your market and local area. Grow your staffing agency at a higher percentage by accessing immediate capital and the benefits and flexibility that come along with it.

Factor finance companies understand the unique challenges faced by agencies staffing nurses in;

  • Hospitals
  • Medical clinics
  • Nursing homes
  • Long-term care facilities

Even the most well managed, profitable small to mid-size nurse staffing agencies experience cash flow gaps and some difficulties as rapid growth occurs, due to clients extension of payment on term invoices.

Easy steps to follow when seeking capital for nurse staffing agencies invoices:

  • Staffing Nurses, the factor verifies the invoice(s) and checks the credit of any potential new client prior to funding invoice(s).
  • Funding is available within 24 hours upon verification of invoices.
  • Nurse staffing agency’s clients pay the factor direct for purchased receivables.
  • Once the client has paid the invoice, the factor will release the reserve, minus any factoring fees.

Instant payroll funding is available for different nursing industries;

  • Private duty
  • Homecare staffing
  • General Nursing staffing

Stop stressing over slow-pay customers. Factor finance your invoices and focus on growing your business in the already rapidly expanding healthcare services marketplace. Don’t miss out on large opportunities because you can’t meet payroll and other weekly operating expenses.

*Choosing the right factor finance company can be difficult. However smart nurse staffing agencies use Factor Bid to get a few competitive offers for their invoices. When factors know they’re competing for your business, you get the best deal! Visit www.Factorbid.com and find out within a few minutes which factor finance company has the best offer for your invoices.

 

Medical Transcription Services Invoice Finance offers

Medical Transcription Services Invoice Finance

Medical transcription factoring is a business funding method that exchanges the unpaid invoices sitting on your books for a cash advance of equal value.
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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:
  1. Continue servicing your clients
  2. Send your invoices to the factor
  3. 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!

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