Working capital in today’s fast paced business world is proving to be a necessity. You gotta have cash today or face the consequences tomorrow.
Use to be that money on the books meant you really had nothing to worry about, right? Customers owe you money, you invoice those customers for payment and eventually when they get around to it, you get paid. They promise you payment, you promise others payment and so on and so forth.
So businesses start running accounts payables based on outstanding receivables, anticipating payments from extending terms to their customers and then budgeting their financial responsibilities accordingly. Until this happens.., your customers slow-pay or worse- don’t pay altogether. Now what? You’ve got bills due, promises to keep and you’re expecting that check; but now your customer is telling you you’ll have to wait.
Waiting on accounts receivable payments can add a huge amount of stress to a business, not to mention the business owners. Many businesses run on razor thin margins in order to stay competitive, and don’t have the funds in reserve to finance slow-paying customers or cover payments for customers that don’t pay.
Take a look at your business operations today. If even one of your top 3 customers didn’t pay, could you continue to operate at the highest level of business operation or would it send your business in a downward tailspin of financial distress?
REDUCE, REDUCE, REDUCE and REPEAT
Reduce your liability in open accounts receivables. Reduce the amount of time spent collecting money owed to your business for goods and services that you’ve already delivered. Reduce bad-debt by unlocking capital trapped in your open accounts receivable invoices.
Factor finance companies have lots of money. They want to share their money with you and get you paid immediately for your invoices, usually within hours of invoicing your customers. Factors don’t mind waiting 30, 60 or even 90 days for your customers to pay up. They make a little bit of money by assuming responsibility of collecting the owed money and keeping your cash flush and on-time so you can keep running your business at the highest and best level.
Factoring your invoices enables you to get paid immediately. Think what you could do with more working capital right now.
- Pay off higher interest loans
- Purchase new equipment to increase productivity
- Hire additional employees to help bring in new customers
- Pay suppliers in advance to receive discounts on your purchased orders
- Invest the money to expand your business model and generate additional income
However you decide to use your money, accessing it within hours of invoicing your customers will give you the leverage you need to stay competitive and grow your business brand much faster.
Choosing the Best Factor Finance Company in 3 Simple Steps
- Go to www.Factorbid.com
- Click “Get Started” button
- Choose the best available finance offer available today
Factor Bid gets you competitive offers from the top finance companies in that specialize in your industry. You’ll quickly be matched with the best rate, terms and offers today. Factor Bid is real-time and when finance companies now they’re competing for your business, they’re going to give you their most competitive offer right away or face loosing your business to one of their competitors.
Get the knowledge and leverage you need to negotiate the best financing deal for your growing business. Don’t risk not getting paid or the stress that comes with financing your customers while their businesses flourish and yours waits to be paid. Trade in those outstanding invoices for immediate cash flow and focus your time on gathering new customer accounts, not collecting money from completed work.
Factor Bid is a free online business resource for small to mid-sized business. You’re under no obligation to finance. Try it today to find out how much working capital your business can access!