Authored by Phil Cohen
Waiting on slow-paying customers can put a stain on business working capital. Without access to working capital, you cannot meet payroll, make purchases or run your business effectively. Factoring can be the solution you are seeking. By working with Factor Finders, we can connect you with the right factoring company for your business.
How You Can Secure Working Capital with Factoring
As a business owner, you may feel there is little you can do to mitigate the effects of slow paying customers. Traditional loans can be difficult to secure, especially if you have less-than-ideal credit or you are a startup. Factoring is a different way to secure working capital that is debt-free and it works off your own money. With business factoring, you sell your unpaid invoices to a factoring company. Upon approval, you will receive your cash advance up to 98% of the invoice value, typically within 24 hours. The factoring company will take over collecting payments from the unpaid customers. After all of the invoices are paid, the factoring company will release the remaining balance to the business owner, minus a small factoring fee.
Factor Finders Can Help You
Factor Finders is a factoring broker that can connect you with the right factor for your business. With a network of over 75 factoring companies, we know exactly who to pair you with for maximum satisfaction. Factoring can serve several industries, including construction, healthcare, staffing, technology and more. You only factor the invoices want, which offers flexibility. By paying off your debts and making timely payments, you can improve your credit report.
Contact Factor Finders Today
Factor Finders wants to help you secure business working capital. Contact us today to start the conversation. We will be in touch within minutes to assist in making a connection with the perfect factor for your industry.