Every business needs capital to operate. There are a lot of small business bootstrapping it with personal savings, credit cards and loans from friends and family members. There’s nothing wrong with any of that, but at some point you will hit a limit. The problem is many businesses hit this limit and get stuck. They’ve tapped all of their resources and aren’t able to get a bank loan for one reason or another.
The secret is out! Businesses large and small alike have found the overwhelming benefits of Accounts Receivable Factoring. Accounts Receivable Factoring, or “factoring”, is a form of asset based lending that can boost a company’s short term cash flow. It is not a loan; no debt is assumed by factoring, and the funds are unrestricted. Companies from large 500 Fortune Companies to small businesses averaging only a few employees make up the growing number who have had successful experiences with Accounts Receivable Factoring. These businesses have found that being able to pay off debt, purchase new technology, increase business growth by leaps and bounds, make payroll – virtually anything related to their business – has allowed for business opportunities in areas once thought weren’t possible to become increasingly attainable.
Small Business Factoring is an excellent tool for business owners, especially ones that are not yet qualifying for traditional bank financing. Small Business Factoring helps maintain cash flow for the general expenses of a start-up, funding for growth, and can also function as receivable management support for a company with a small staff.
Taking an advance against your invoice(s) creates cash flow for your business. Factoring is a tool that many business owners use to expedite growth and smooth out cash crunches, among a variety of other reasons!
Just as house requires a solid foundation to be structurally sound, a business needs a solid foundation to be financially sound. If you don’t have a firm financial footing, your business is a house of cards - a house that will come crashing down as soon as the wind blows.
Freight Factoring: No Application Fees
Small Business Factoring in 2013
The economic environment in 2013 looks significantly different than it did two or three years ago; however, many businesses are still finding themselves struggling. In the first 3 months of 2013, the U.S. gross domestic product (GDP) grew at a rate of 2.4 percent. While we’re certainly past the recession, wherein GDP declines, it’s well below what’s considered a normal growth rate of 3 percent.