Even though income taxes will go up for most Americans in 2013, many of the expired tax breaks for small businesses have been renewed by the last-minute legislation signed last week. This may be seen by some as just a “spoonful of sugar to help the medicine go down,” but it’s definitely good news when considering those expirations could have hit small business owners with a double whammy this year.
These tax breaks are not the only good news for small businesses right now. The good news is that in 2013 these businesses can operate and grow even if budgets must be tightened. We all know it costs money to run and grow a business, but where will the cash come from when spending is tight?
A savvy way to acquire capital funding that companies the world over have been using since taxes were conceived is factoring receivables, also known as accounts receivable financing or invoice factoring. This debt-free alternative to traditional financing is good news when unforeseen expenses come up or if funds are tight and companies need cash to meet payroll, pay taxes, pay vendors and fund growth.
Even more good news is that Universal Funding Corporation, a factoring company with over 65 years of experience, purchases accounts receivable invoices at a discounted rate. Advancing up to 95% of the invoice face-value, they pay right away for the products and services small businesses provide to their customers, eliminating the 30-, 60-, 90-day or longer wait for payment.
Because it could take months to get a bank loan, when cash is needed right now Universal Funding can approve new clients in as little as 2 business days and fund within 2 hours of approval. Improving a company’s financial position by maximizing its purchasing power with invoice factoring is definitely good news for 2013.
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