There are things that influence on your financial services. They are right for your company as long as you:
- deliver a quality product or service to another business; - sell to credit worthy customers; - have at least $10,000 in outstanding accounts receivable to factor; - and your accounts receivable are unencumbered.
Factoring Financial Services that work for most types of business, include:
1. Manufacturers 2. Distributors 3. Wholesalers 4. Service Providers
Many people represent many different industries: some of which include transportation, staffing, consulting, and telecommunications. And they all use factoring financial services. However, they need cash or growing faster than current cash flow can support. And they choose factoring that is a good solution for them.
Think over your business and try to answer the following questions. If you will answer yes to any of them, then you need factoring.
1. Do you have a young company with creditworthy customers but lacking the financial history required for traditional lending? 2. Is your business looking to take advantage of new sales and benefit opportunities requiring increases in cash flow? 3. Is it experiencing operating losses? 4. Do you have poor credit and tax related problems? 5. Is your company growing fast, but with too much money tied up in accounts receivable? And with this you cannot fill orders, provide service or pay operating costs. 6. Is it positioned to increase current volume but reluctant to take on additional debt, increase overhead or add an equity partner?
Pay attention to these questions. This is because factoring with any financial services company may be your solution.
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