Seeking guidance from experts is sound business practice, and having the good judgment to use outside resources is part of the success of many companies. There are times when it is appropriate to consider several different opinions or create a diverse team in order to arrive at the best strategy for your business. Your company has probably sought input from a variety of specialists for contracts, marketing, real estate and logistics planning. However, you may have not taken advantage of the guidance available to your business when it comes to finding capital solutions.
When your company is experiencing low cash flow, you may consider business loans and then reject that solution due to the lengthy approval process that will not help you cover immediate costs. This is the time to take advantage of another type of specialist. Accounts receivable factoring companies can quickly help your business cover immediate costs and provide a surge in cash flow.
An Alternative to a Business Loan
Unlike a conventional loan, accounts receivable factoring provides your business with an influx of cash quickly enough to cover your immediate expenses. Your business receives capital from the sale of its open invoices. You should choose a factoring company with expertise in guiding businesses in the same industry as yours through the factoring process:
- Universal Funding can approve your company within a few days and grant your business the funds hours after approval.
- Your Account Executive will guide you through the process of transferring, verifying, and monitoring the invoices and funds.
- Your clients make payments out to your company and send them in care of Universal so that your Account Exec can manage repayments and update your account for you can view the transaction online in real time.
Factoring is a simple process for your business if you use an experienced factoring company like Universal Funding.
Seek Guidance to Solve Your Low Cash Flow Issues
Working with a factoring company allows you to access cash quickly through a sale instead of a loan. Universal Funding has decades of experience guiding companies through the process of factoring their open invoices. We have the expertise to help your business with quick approval and access to the capital you need. Get started by filling out our online rate form to request a no-cost consultation today.