There is one thing that all businesses have in common, no matter what industry or product/service they offer: a need for sufficient working capital. Any business that lacks sufficient working capital will struggle to succeed and most, unfortunately, will fail. Cash is needed to pay monthly debt obligations, operating costs, to fund the production of goods or services…the list goes on and on. Not only will your business fail to thrive, but you could possibly jeopardize your personal cash reserves and assets due to potential litigation and collections activities.
While all businesses experience a cash flow shortage from time to time, those that choose to extend credit in order to attract new customers and keep loyal ones tend to have these issues more often than other business types. Not only do these businesses have to front the money to make and market their wares, but also take the risk of customers not paying for their purchases.
Factoring is one way you can avoid this dilemma and prevent unnecessary financial stress. Factoring allows you to sell your existing open invoices, those you are simply waiting on your customers to pay, for a lump sum of cash. The transaction is quick and does not require you to go into debt or to have to undergo a lengthy qualification process.
If you are ready for one of the best factoring companies, to turn your invoices into fast cash, give Universal Funding a call today at 1-800-405-6035 or submit a rate form for a free consult on your financing options.