As we head into 2011, small businesses are seeing signs of international economic recovery. For many, these signs are a call to action, ‘‘’All signs point to a continuing improvement in economic conditions for 2011, which means small business owners need to be thinking now about how best to take advantage of business opportunities in the new year,’ says Jason Fryer, Head of Small Business Services Australia, American Express” in a recent www.news.com.au article.
However, what it means to “take advantage of business opportunities in the new year” is different for nearly every business in every industry. Some small business owners may find that the tax benefits recently put into effect by the Small Business Administration’s Jobs Act of 2010 make this time ideal to purchase new equipment or make other capital investments in their businesses. For those with the working capital or credit to do so, making such expenditures and enjoying their related tax incentives may be a wise move. But for those small businesses lacking funding and credit, the tax incentives seem out of reach. This is where accounts receivable factoring services can make all the difference.
Selling accounts receivable (also called “invoice factoring”) is a method of small business financing that is particularly beneficial to start-up companies and businesses lacking strong credit histories. Whereas small business loans are a form of finance that is highly dependant on your personal and business credit and assets, invoice factoring approvals with online commercial finance factoring company Fast A/R Funding are different. We base approvals on your customers’ creditworthiness and your invoices’ value. And while bank loans are increasingly unreliable, expensive, and hard to obtain, factor invoice with Fast A/R Funding is secure, dependable, and cost-effective. In addition, Fast A/R Funding typically offers approvals in 24 hours and funding in 48, providing fast access to needed funds. For struggling small businesses trying to grow with the economic recovery, loans and receivables can be the ideal lifeline. Not only does invoice factoring help small businesses stay afloat by providing the working capital to meet increasing customer demands but it also provides access to the funds those companies need to make planned capital investments that qualify for the Jobs Act tax benefits.
Beyond enabling your company to reap the benefits of the SBA’s Jobs Act of 2010, a factoring firm like Fast A/R Funding can save your small business money in other ways. We help manage your credit risk through advanced screening tools, helping you make better decisions when extending credit to customers. Fast A/R Funding also helps decrease the staff hours and physical resources necessary to manage your accounts receivable by using electronic invoicing for your customers. These services dramatically cut down on your accounts receivable-related printing, mailing, and personnel costs, and help you focus on your business, not your receivables.
Every business is individual, and circumstances vary. For information about accounts receivable factoring and whether Fast A/R Funding’s services are right for your small business, contact us at info@fastarfunding.com or 1.888.833.2286 today.
Disclaimer: The information presented above is general and intended for educational purposes only. It is not a substitute for practical legal or accounting advice on any specific situation.
