A Way To Improve Cash Flow
In the course of your business operations you will regularly generate invoices for sales to customers. You ship a good or complete a service, you invoice, you get paid upon billing or a day or two after. However, when selling to larger customers (typically multinational corporations) or riskier, smaller customers, those invoices can take weeks, sometimes months, to pay–restricting your company’s cash flow.
Restricted cash flow makes it more difficult for your company to grow: purchase needed equipment, hire the right team, pursue new revenue channels, etc.
Fortunately, there is a way for you to get paid for the work completed on day one instead of day 90 and keep your business growing: factoring.
Factoring is a financial transaction in which a business sells its invoices to a third party at a discount. A business will sometimes sell its invoices to meet its cash needs and working capital requirements.
Factoring is commonly referred to as accounts receivable factoring, invoice factoring or financing, and sometimes accounts receivable financing. Factoring is not a loan, it is simply selling your outstanding invoices for cash.
Improve your cash flow and grow your business by completing the Banker Agent application today!