Maintenance services factoring is an alternative form of funding to increase your working capital. With more and more commercial, industrial, office, and retail properties outsourcing maintenance to companies that specialize in this work, maintenance services companies represent a fast-growing and competitive business sector. Whether these service companies specialize in general facilities maintenance or highway cleaning and construction jobs, many maintenance service companies encounter difficulties in juggling the completion of a job or contract and getting paid for it.
For companies that have to wait weeks and months for customers to pay, maintenance services factoring provides a fast and affordable debt-free cash flow solution. Maintenance service company owners can get paid upfront on their invoices – no more delay to get paid. This convenience of fast funding becomes especially important on payday. In a labor-intensive field, payroll is by far a maintenance company’s largest cost center. Paying workers on time, every time, is critical to recruit and retain the best maintenance staff.
For maintenance companies, cash flow can be a problem when you need to pay your suppliers and staff on time, but have to wait longer periods for your customers to pay their accounts. Waiting for 30, 60 or 90 days for bills to be paid puts you at a disadvantage. When you partner with Interstate Capital, one of North America’s top factoring companies, you receive an advance of up to 90% on your invoice – and incur no debt.
Qualifying for factoring services is a much easier process than qualifying for a loan from a bank. Factoring companies look at your business’s day-to-day workings, your prospects for growth and your customers. You will be accepted for this easy and fast source of working capital based on the creditworthiness of your customers – not your company’s payment history.
Use your expedited cash flow to pay bills, meet your financial obligations and focus on growing your maintenance business. This is the time to expand your areas of specialization, invest in more marketing to increase your customer base, or upgrade your transportation options. Your advance can also earn you volume discounts on cleaning supplies and equipment, early payment discounts from vendors, and freedom from high-interest loans.