Every year, hundreds of thousands of businesses across North America speed up their cash flow and grow their business through invoice factoring. Factoring their accounts receivable lets companies get paid upfront for completed work instead of waiting weeks or months for customers to pay. Factoring empowers companies and gives them important keys that can unlock their business potential. Let’s look at some of the key factoring benefits, and if it’s the right cash-flow solution for your business.
What are the key benefits of invoice factoring?
- Strong cash flow: Get paid now, not in 30, 60, or even 90 days
- Working capital for growth: Use funds to expand and increase profits
- Time to focus on your business: Save time on back office tasks
- Debt-free financing: Access cash without adding another loan
Factoring converts the future income sitting in your stack of accounts receivable into cash in your pocket now. It’s a no-debt, no-waiting route to greater peace of mind and freedom from worry about making payroll, paying vendors, and other obligations.
Could factoring help you and your company?
Take this simple quiz:
____ Are your customers reliable – do they have a good track record of paying vendors on time?
_____ Do you provide a product or service to other businesses – not individual consumers?
_____ Do you offer your customers payment terms – can they pay in 30, 60, or 90 days?
If you answered yes to these three questions, you could be eligible for speeding up your cash flow through factoring. You could be on your way to meeting your own business goals soon.
Contact the friendly cash flow experts at Interstate Capital today for a free factoring consultation.