Factoring is a time-tested financial strategy that has benefited businesses in all stages of growth. Companies have opted to factor their accounts for a number of reasons. The diversity of companies that take advantage of this particular financing opportunity strongly supports the fact that factoring offers a strong economic incentive. Indeed, the problem solving nature of the services offered by top factoring companies has led many organizations to take a second look at the benefits of this particular avenue. There are many circumstances that might inspire decision makers to more closely consider the valuable economic resource.
A Second Look at Loan Alternatives
One of the primary reasons that decision makers turn to the services of top factoring companies is to avoid the complications of applying for another business loan. Factoring has numerous advantages over conventional business loans, including:
- Funding is based on clients’ credit history, not yours
- Lines of bank credit are not monopolized
- The application and approval process can be completed much faster
- Companies specializing in factoring services can offer more competitive terms than traditional lending institutions
- Convenient, up-front terms that are easy to understand
The straightforward nature of factoring makes it an ideal solution for companies who would be burdened by the complexities of conventional business loans.
Leverage Financial Value Faster
Some companies are faced with the challenge of generating a large amount of working capital in a short amount of time. Financial shortfalls can happen to any organization and sudden funding demands can arise without notice. Even companies who would normally have opted for a conventional business loan may not have the time to go through the application process. Factoring can be completed in a fraction of the time, thereby providing a lump sum of working capital in a time frame that actually works.
Discover Your Hidden Financial Assets
You can use Universal Funding Corporation’s convenient online rate form to discover how much your accounts are worth. You have access to more money than you might imagine.