When it comes to collecting on overdue invoices, many businesses simply don’t have the time and resources to ensure timely payment collection. Not to mention, this can become a sticky situation for companies who rely on strong customer relationships to stay in business. However, many businesses, especially newer and smaller businesses, simply can’t afford to allow invoices to remain unpaid. So, what options are available?
Invoice factoring is a real solution for many businesses as the process allows businesses to sell outstanding accounts receivables in exchange for a lump sum of cash. This method allows businesses the opportunity to offload the management of their accounts receivable to a third party while still collecting the lion share portion of the face value of the invoices. By factoring invoices, businesses are also able to also maintain their relationships with their customers as they no longer have the responsibility of pursuing them for payment. The process is fast, many approvals closing in as little as 48 hours.
For more information on Universal Funding and the financial assistance that we can provide your business, give us a call today at 1-800-405-6035 or submit a rate form for a free consult on your financing options.