They say cash is king.
When ample amounts of it are flowing through your business, they are right. But when there’s a lack of cash, the only thing king-sized about it is the trouble it creates.
For many businesses, keeping cash as king is as easy as factoring.
Factoring, in its simplest terms, is just another word for getting paid immediately. It enables businesses to avoid waiting for payment on invoices from customers who take upwards of 30-60 days to pay.
Instead a factor buys those invoices, effectively paying the business right away. The invoices are then forwarded to your customers, who are given the luxury of waiting to pay. Many companies rely on factoring because they simply can’t afford for their invoices to go unpaid for two months.
Universal Funding does the waiting for you.
Offering payment terms can be challenging when working with other businesses. Waiting 60 days to get paid can seem like a lifetime when you have bills that are due in 15. The situation can get even harder when a potential customer seems promising but then asks for lengthy payment terms. Is the opportunity to sign the customer and risk a cash flow problem better than losing out on the customer’s business altogether?
Working with a factor can eliminate that worry and allow you to take on the customer while knowing you’ll be paid immediately.
Universal understand the needs of businesses and the tools that help pave the way to success.
A strong cash flow is vital and factoring provides the capacity to grow when other forms of financing may not be available. Factoring can also provide access to credit and collection services at a fraction of the price of doing it yourself.
Factoring allows your business to be more competitive and make more money.
In short, factoring makes cash king again.