Accounts receivable financing 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 offer you an advance based on the company’s method to determine factoring and advance rates. Your business can use these upfront payments as investments to expand your business and jump start growth.
Factoring to Finance Expansion
Your business is poised for a period of growth, but you may not have the capital to address a few major requirements for expansion. 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 on these expenses is an investment in the future of your business. However, if your company is experiencing lower cash flow than necessary for these costs, you will not be able to take advantage of this crucial time for your business.
Accounts receivable financing is a way to access the capital needed to make investments that lead to your company’s expansion without waiting for your customers to make payments on their open invoices.
Turnaround Times That Work for Your Expansion Schedule
To jump start productivity and launch your business into expansion, you may need to cover immediate expenses without waiting for customer payments, especially those due in 60 or 90 days. Conventional small business loans also require waiting times from several weeks up to a few months.
A quality factoring company like Universal Funding can provide your business with capital needed for expansion within days. The quick turnaround times for factoring approval and funding allow you to cover immediate costs that cannot wait for weeks or months, such as a deposit on new facilities for your growing business.
Learn More About How Factoring Helps Your Business Grow
Universal Funding can help your business access funding for growth through the sale of your open receivables. Contact us today to learn more about our rates, benefits and turnaround times by completing our simple rate form.