Thus far, 2014 has proved a challenging winter even in places that are used to snow and cold such as the New York area, the Midwest, and New England. According to USA Today, harsh winter weather has also pounded many places that aren’t used to getting snow at all such as Atlanta, Georgia and the surrounding Southeast. Unexpected power outages, road closures, stand-still traffic and record-number school and business closings have wreaked havoc across these parts of the country. Especially for some Georgia businesses. 

Unexpected Storm? Get Emergency Cash for Your Business with Invoice Factoring

Small businesses in particular have been hit hard on numerous fronts. Many have had to shut their doors as a result of the weather and related road closings. E-commerce stores and online shopping has also been negatively affected by the storms as delivery companies have fallen behind on their shipments as a result of the weather. Some factories have halted or reduced production as a result of the storms as well.

According to the NY Times, the snow and ice storms have also negatively impacted stores’ business cycles. In the South, stores with stockpiles of winter boots, hats, coats, gloves and other gear have fared well. Yet most retail outlets in the region don’t carry a lot of winter products because heavy snow and icefall is such a rare occurrence. While conceding that some businesses such as florists likely won’t be able to make back some of that lost revenue, other experts believe that in the long run, most businesses won’t experience significant damage as a result of the harsh storm season.

Factoring Companies Provide Small Business Financing When They Need It

Yet the damage caused by these storms brings to life the importance of having a backup plan to get cash in a pinch. Customers may not be coming to your door but that you still have bills to pay and financial obligations to meet. Small business funding in the form of factoring receivables or invoice factoring is a way for a company to get cash quickly, especially if you’re late on receiving payment due to an unforeseen event.

Accounts receivable factoring works by selling your current invoices to a third party factoring company for immediate cash. Unlike a term loan from a bank, you can use the money however you need to; the factoring company will not ask you extensive questions. Once you collect the payment, it goes directly to the invoice factoring company. You pay a percentage of the total amount for the cost of the fast expedited processing.