Keeping up with the latest technologies in your industry is crucial for your company’s success. Improving your techniques and your products or services allows you to serve your customers better, creating loyalty and attracting new business at the same time. Continually updating your methods and tools to employ cutting-edge solutions can be difficult when cash flow is low. Your company may want to move forward, but the cost is prohibitive, and a business loan will affect your lines of credit.
In order to remain the most innovative company in your industry, you need an alternate cash solution. Invoice factoring through an accounts receivable finance company like Universal Funding is an excellent solution to a low cash flow issue that can quickly provide access to capital without creating debt.
Finding Funds for Innovative Business Solutions
Innovation is beneficial to your processes, can help you cut costs and results in the top products and services for your customers. However, implementing advanced technologies or new procedures can be costly. There are a variety of expenses to consider when your business is competing to lead your industry in advancements:
- Fees from consultant and subject matter experts
- New hire searches, orientation and payroll
- Software upgrades
- Research and development
- Updating equipment
Accounts receivable financing allows you to access cash quickly through the sale of your open invoices. The process is much faster than a bank loan. Your company can have the capital needed for a SME or research trial within days of applying for funding.
Since the transaction is a sale, your company’s lines of credit are not affected. Once your business receives the capital, your part in the transaction is done. The factoring company collects payment when your customers pay the invoices and forwards the remaining balance to you.
Stay On Top With Adequate Funding
Universal Funding has years of experience helping companies through factoring. We can answer your questions about accounts receivable financing and how it can help you foster innovation to gain the competitive advantage. Simply fill out our online rate form to request a no-cost consultation today.