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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Online Business Finance Marketplace – Increase your Business-Cash-Flow today!

Are you facing cash flow gaps in your small to mid-sized business? Turn your business assets (invoices) into immediate working capital. Get Cash for your invoices by 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.

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Don’t wait 30+ days to receive payment, unlock cash that’s trapped in your accounts receivable invoices. Start factoring and get paid within 24 hours for invoices.

Get Started:

Go to Factor Bid – click the Get Started button and within the hour you’ll have factor finance companies competing for the opportunity to earn you business and provide you immediate working capital for your invoices!

On the Go:

Download Factor App for your Android and Apple Smartphones!

Quick and Easy Small Business Funding Offers – Get The Best Deal Today

Fast Small Business Loans:

Looking for working capital for your business today? Qualify for our fast small business loans quickly. Click here for business funding and you’ll get competitive offers from financing institutions to finance your growing business.

Traditional bank loans require specific collateral before they will lend to your small business. Get alternative small business loan ranging from $5,000-$250,000 with a general lien on business assets which is removed once you’ve satisfied/repaid the loan. Unlike a bank, the ‘value’ of your assets are not considered in the funding decision.

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Typically small business loans are from 3 to 24 months and the personal guarantee is only required for this time. Small business owners get the small business loans needed without securing hard assets. Use your loan for short term expense, to cover cash flow gaps and pay your loan back quickly to manage expenses.

Funding Amount: $2,000-$250,000+

Funding Term: 3-24 month*

Repayment: Automatic daily debits from your merchant account / small business account

Collateral: No business collateral required, pledge of only business assets for qualification

Eligible Business Type: From accountants, doctors, construction, Oil/Gas Industry, retail, manufacturing and over 200 others

Funds: Money in your account as soon as tomorrow. Fast and easy approval

Funds Usage: Can be used for most business purposes

See how much your business qualifies for today! Get Started

KISS principle “Keep it simple, stupid” – all benefits of factor financing (invoice finance) from Factor Bid

“Keep it simple, stupid” the KISS principal when it comes to your money! Don’t wait 30,45 or even 60 days to get paid for your outstanding accounts receivable invoices, get paid as soon as today!

When it comes to factoring (invoice finance), the sky’s the limit concerning all the benefits.  Mainly due to the question, “What are you going to do with all YOUR money you now have access to?” Let’s clarify, it’s your money and always was.  You already completed the job. Your client has the bill/invoice.  You are just waiting for the payment that you already earned.  This is important to wrap your head around.  When you factor finance, you are NOT applying for a loan!  You are gaining access to the cash that is trapped in your accounts receivable invoices and is owed to you for a job well done.

I’m ready to get a few offers for my invoice from competing factor finance companies – Let’s Start!

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What would your business look like if you were paid the SAME DAY for the products/services you provide?  What would it look like if you had the money in your checking account the next day, instead of having to wait 30 plus days?  How many people could you hire?  How many new trucks, supplies or necessary equipment could you buy to help grow your business faster?  What if you were not biting your nails on a Thursday ANYMORE when thinking about how to pay your employee’s on Friday?  Now, I am just talking about one invoice.  What if you are processing/billing 10, 20, or 30+ invoices a month…and waiting for the checks to arrive in the mail?

Ask yourself:  “How much MONEY is locked up in someone’s Accounts Payable (A/P) that you’re not accessing to pay your own bills?”  When you signed up to own your own business and create an amazing product/service, you didn’t intend on being the bank or finance company of all your customers, did you? Dream the dream.  What would your business look like if you were paid same day?  What would that be worth to you?

Apart from all the benefits above that specifically apply to your dreams, line of business, and how you want to grow your company, factoring your open accounts receivable invoices also does the following:

  1. Eliminates bad debt – As you will have no more bad debt, because you – smarty pants- will ALWAYS get paid for a job well done, you can eliminate this expense from showing its ugly head on your income statement.  That’s awesome!
  2. When you partner with a factor finance, you are partnering with an experienced company who now helps you manage your accounts receivable invoices.  No more collections process for you! No more expensive ‘collections outsourcing’ or lawyer retainer fees to deal with.
  3. The sky’s the limit!  You now have access to unlimited capital.  The more you grow, the more financing becomes available.  You love the factors and they love you.
  4. As factoring is NOT a loan, you will not be incurring any debt.  That’s right!  No debt. This frees up your balance sheet and keeps it healthy for when you want to obtain other types of financing or sell your company.
  5. Factors know that time and money go hand in hand.  They want to get you money fast and make the process as seamless as possible.

 

So, what are you waiting for?  Whether you have $5,000 or $120,000 of open accounts receivable invoices sitting on your desk, factoring can provide you the means to run your business like never before.  
Simply, go to factor.bid to begin a FREE and NO OBLIGATION journey into the world of factor financing.  Once you upload an open invoice, you will have up to three factor financiers call you, eager to earn your business.  Factor bid gets you competitive offers from the top factors in your industry that are looking to buy your open invoices today! Sit back and let the offers come in.  It’s probably the easiest and best decision you’ll make today!

GO MOBILE – Factor App in invoice finance on your Smartphone!

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What is Accounts Receivable A/R discount finance and how can it help your business outperform your competition?

Outstanding and/or ‘open invoices’ represent invoices that have been sent out to a client for payment, but have not yet been satisfied/paid by the client. These invoices can be financed or A/R discounted for less than the face value to quickly raise capital and increase cash flow.

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The buyer of the A/R Invoices also know as the (factor) purchases the financial obligation at a discounted rate providing the selling firm (that’s you) with immediate cash. The factor now assumes responsibility in collecting the money owned by the original debtor (or the company you originally provided your product or services for.)

The invoice is sold at a discount, which is typically 85-90 percent of face value. The Factor requires a percentage of the invoice remains in reserve in order to reduce their total risk, in assuming responsibility for collecting the outstanding debt. Once the debt is collected by the Factor, you’ll receive the reserve amount of the invoice or the percent that was held back -minus any service fees.

Here is just one example of the fee scale from one small factoring company. Every Factor is different and you should use Factor.bid to shop your open invoices for the best deal when factoring.

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If this fee structure seems high, what is the costs of not factoring?

The Costs of not Factoring:

  1. Time value of money
  2. Benefit of improved cash flow
  3. Cash within 24 hours
  4. Pay Suppliers faster
  5. Receive discounts from suppliers
  6. Make payroll without using personal finances
  7. Offer longer terms to larger customers
  8. Attract more business
  9. Business growth without incurring more debt at your bank
  10. Lowers your business liability / risk in collecting payments

Will the financial benefit of improved cash flow to your business offset the fees associated with Factoring, And then some? In many cases Factoring is a smart business decision and can aid your company in growth and new found business opportunity.