If you’re familiar with invoice factoring, you know that it’s a common form of business financing that frees up cash for growing businesses.
What you might not know is that factoring can free up a whole lot more than just cash, making your business run even smoother.
How is that possible?
When factoring with Universal Funding, your program will include ways to:
- Ease credit worries
When taking on new customers, you can’t be sure of their creditworthiness. We remove that worry by giving you access to our in-house credit department, which will tell you if the customer represents any credit risk. The more knowledge you have about your customers, the better!
- Solve collection problems
With two in-house attorneys and a collections department, we can gently nudge over-due payers and make sure you get your money, while respecting your customer and giving you the freedom from ever needing to place another collections call.
- Save time and hassle
Universal Funding can keep track of your accounts receivable, freeing up time for you to focus on other areas that can result in more business. Outsourcing your AR can save a considerable amount of money and hassle!
- Answer tax questions and solve problems
If or when tax problems or questions arise, Universal can work directly with the IRS to make sure the issue gets solved.
- Eliminate slow payments
By factoring with Universal Funding, the problem of slow payments goes away. You get paid on your invoices right away, and we wait the 30, 60 or 90 days for your customer to pay.
When considering all of the extra ways factoring can help save money, its value becomes quite apparent. Factoring is a cost effective and efficient way for business owners to outsource several time-consuming responsibilities while saving money and, ultimately, increasing profits.