Consulting Companies Invoice Factoring is an alternative to conventional Bank Financing. If you've experienced problems qualifying for traditional bank loans based on their lending criteria and need immediate working capital to run your business, then take a look at factor financing your Consulting Firm's accounts receivables for cash.
Factoring offers consulting firms cash flow through invoice factoring, purchase order financing and accounts receivable financing. Factoring is not a loan and usually your business can get approved in as fast as 24 hours so you have the cash you need to run your consulting firm today.
Waiting 30, 60 or even 90 days for payments owed by customers can increase stress on business and even force you to downsize or even close the doors.
Immediate access to working capital will help your business cover payroll, grow your consulting firm, and pay suppliers.
How Consulting Firm Invoice Factoring Works:
Factoring enables your Consulting firm to access cash flow without incurring any additional debt. Factoring is not a loan, you're being paid for work you've already completed. You remain in full control of your business and simply use your assets - consulting accounts receivable invoices to get paid within 24 hours of invoicing your customers.
Benefits Of Factoring For Your Consulting Firm:
Free access to credit checking services. Your factor partner becomes your in-house credit department and provides tools you need to research new customers. Before deciding to do business with a new customer, review their payment and credit history in order to lower your risk and avoid problem clients.
Accounts receivable management is another great service that's part of your factor financing agreement. You'll have access to on-line, real time reporting. You can log on anytime and see updated aging reports, collection reports, and more. Your factor finance partner can also put in friendly reminder calls to customers when their accounts are past due. You'll have more time to focus on growing your business, like many of your competitors are already doing instead of spending time collecting payments that are owed to you for services you've already completed.
By factoring your consulting invoices, you're increasing your working capital. You'll be able to go after bigger clients and larger account with confidence. Your factor finance partner will be there to help finance your new larger customers and get you paid faster. Bigger clients typically take longer to pay and like to stretch our their accounts payable for as long as possible. Factoring will also provide you cash you can use to quick pay suppliers, taking advantage of any discounts they may be offering for faster payments or up front payments. A 2% quick pay discount can cover some, if not most, of your factoring costs.
It's recommended that you get a few offers from competing factor finance companies before you decide which factoring partner can get your consulting firm the best deal and most money when factoring your consulting invoices. Click the Get Started button below to compare invoice finance offers.. free. You'll get competitive offers from factor finance companies eager to buy your Consulting Firm's invoices for immediate cash.
When factor finance companies know they're competing for your business, you're going to receive their best offers. You decide which factoring program best aligns with your capital needs and business structure. Factor Bid is free for small business customers and you're under no obligation to factor. Click the Get Started button below and get compare invoice finance offers.. Free!
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