Factoring Finance – Is It For You?
At any given time, your business is poised for growth, but you may not have the capital to expand. Factoring finance allows for you to grow without taking on any more debt. For instance, your company may need:
• New equipment
• Updated marketing materials
• Consulting services
• New hires and payroll expansion
• Deposits for commercial real estate
• Additional raw materials or supplies
Spending money for growth is an investment in the future of your business. You may want to jump start productivity and launch your business into expansion. However, you might have a small fortune tied up in accounts receivables. Just because of the nature of your business, you are forced to wait 30, 60, or 90 days for your customers to pay you.
Waiting for Payments Strains Cash Flow
No wonder your cash flow might be tight. Yet, your company or even your whole industry is poised for growth. So, where are you going to get the money to expand? How about a conventional business loan? You could do that, but the application process is lengthy and there are a ton of hoops to jump through, for which you might or might not qualify.
One of your best options is to work with an accounts receivable factoring company, which in a few short days can help your business access value from your open invoices before they are due. Instead of waiting 30, 60 or 90 days for customer payments, a factoring company can provide you with a cash advance. Your business can use these upfront advances as investments to expand your business and jump start growth.
Universal Funding can help your business access fast funding for growth through the sale of your open receivables. Contact us today to learn more about our rates, benefits and turnaround times by calling 1-800-405-6035.