When it comes to seeking receivables financing, many business owners ask themselves just how good their credit needs to be in order to be approved. If a company’s owners were trying to get a loan from a bank that would be an appropriate question to ask. However, when seeking receivables financing through factoring companies such as Universal Funding Corporation, it is not the company owner's creditworthiness that is weighted but rather that of their invoiced customer(s). This makes it much easier on business owners who need fast cash and want to take advantage of receivables financing.
It should be kept in mind that accounts receivable financing is not a loan. This means that your company does not incur debt. Because accounts receivable financing is fast, easy, and does not incur debt, many companies, representing a wide range of industries, are turning to it when they need to get funds quickly. These funds can be used to make payroll, pay taxes, buy equipment or supplies, or to gear up for a large project.
Another huge benefit that receivable financing has over traditional bank loans is that receivable financing can be less expensive in terms of rates . Universal Funding Corporation offers some of the lowest rates for accounts receivable financing and this, of course, allows you to put more money back into your business. Money that can be used to catch up on taxes, to invest in new equipment, to save for a seasonal change in orders; the uses for liquid cash are endless.
When you use a receivables financing program you will have the option to access instant cash to pay for the typical business expenses and the unexpected ones that you and your budge don’t anticipate. A partnership with Universal Funding will remove the worry of how you can access capital quickly without incurring debt or making monthly payments.