If your business is somewhat new, you are likely to have some difficult times when money is short and you will be scrambling to pay bills and make ends meet. You will probably be worrying all day long and dream at night about how are you going to get through tough times.
For many of these new companies, this is where an accounts receivable factoring can step in and help. They are a source of cash and can provide you with services that are useful and you might not have.The factoring company will collect your invoices, provide credit checks and give you approvals. They can manage your entire payment process and provide you financial reporting.
Having these things off your “to-do” list, will provide you more time to manage and grow your business.
Accounts Receivable Factoring Company’s Are Not Concerned With Your Credit History
Your company might be new and has not developed a credit history. Or, your company may have been through some tough times and your credit history has not been that great. It doesn’t matter.
An accounts receivable factoring company is going to buy your unpaid invoices. It’s the credit history of these company’s that is important. Not yours!
A Factoring Company Is Going To Improve your Company’s Financial Health
Credit and collection services is part of what an accounts receivable factoring company is going to provide. This is a major focus of their business. While you are in business to provide your customers a product or service that they want, a factoring company is in business to extend credit and make receivable collections. This will allow you to:
- Stop worrying about collections
- Stop worrying about late payments
- Focus on managing your company and growing your business
The accounts receivable factoring company will work with your customers when longer payment terms are needed. They will smooth out your receivables and improve them. Your company’s financial health will improve making growth more likely.
Get Through Tough Times
Lack of cash is the number 2 reason most small businesses fail. Get through tough times with an accounts receivable factoring company like Caps Funding, LLC. Caps Funding has been in business for over 25 years and has witnessed and experienced nearly all the problems. Give Charles at Caps Funding a call by dialing (803) 429-3686 or by emailing us at capsfunding1990@gmail.com