Cant afford to wait 30 to 60 days to get paid by your clients? If you are like most business owners, waiting to be paid can be very challenging. In some cases it can mean lost opportunities. It can mean that you dont bid for big sales because you know you wont be able to play the waiting game. At its worst, it can spell disaster. It can mean that you need to delay payroll. It may mean that you dont pay rent or taxes. It may force you to shut down your business.
If you are like most business owners, your first reaction will be to call your banker. Unfortunately, banks will not lend money to businesses that are new, have no hard assets or dont have three years worth of profitable financial statements. At this point, most business owners give up, thinking that they dont have any other options. However, they do.
If your company sells products or services to large credit worthy companies, you could qualify for invoice factoring financing. Invoice factoring reduces the time it takes for you to get your money to one day. How quickly could you grow your business if your invoices were paid in 24 hours?
As opposed to bank loans, factoring companies do not require...
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