When it comes to finding ways to quickly address cash flow shortages, many businesses turn to the services of factoring companies because they can provide fast cash without the time consuming process of qualifying for a loan. The reason for the consolidated time frame is because invoice factoring is not a loan. It’s a sales transaction. This means that almost all B2B businesses, no matter what industry they represent, no matter how long they have been in business or how poor their business credit is, can qualify for this unique funding opportunity. All they need are open invoices to sell.
While the benefits of using factoring companies are numerous, the main reason why many businesses turn to invoice factoring is the speed in which they can get access to the cash they need. In most cases, factoring companies can turn open invoices into usable cash in a matter of hours for repeat clients, and just under one week for new customers, much faster than more traditional solutions such as bank loans, which can take months to complete.
Factoring companies offer businesses of any size an alternative to traditional funding options and can help you take your business to the next level today.
If you are ready to resolve cash flow issues by the end of this week, call Universal Funding at 1-800-405-6035 or fill out a rate form to get a quote.