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How a Factoring Company Can Build a Sustainable Company

Business Man Holding a Tool KitFor many businesses, growth is a good sign. With too much growth in a short amount of time, many, if not all businesses can suffer from cash flow problems. By signing more and more clients to your business, it can put you in a cash crunch. This can keep you from paying your employees on time, growing your staff to meet the needs of your consumers, completing jobs on time, and much more. This is a very common cash flow problem that many business owners face throughout their careers.

Partnering with an Invoice Factoring Company for Sustainable Growth

While growth means that your business is succeeding short term, the way that you handle your growth will determine whether or not your business will succeed long term. By partnering with an invoice factoring company, your business will be able to grow in a sustainable fashion.

When your business partners with an invoice factoring company, you’re not taking on a loan—you’re simply getting access to the funds owed to your business.

With invoice factoring, your business sells its outstanding invoices to a factoring company to get a cash advance. If your invoices are approved, the factoring company will advance you up to 96% of the invoice total in just 24 hours or less. Here’s three ways that invoice factoring can help your business grow in a sustainable fashion.

Invoice Factoring Allows Your Business to Remain Flexible

Your business needs cash in its pocket to remain flexible. Without cash, you won’t have the freedom to fluctuate with your business. As mentioned before, when your business starts becoming in high demand, you will need the resources to keep up with it.

With invoice factoring, your business will be able to have almost instant access to the money owed to it without incurring any debt. You’ll always have the resources your business needs to keep up with demand, and make it through slow periods.

Your Business Can Better Manage Cash Flow with Invoice Factoring

Many businesses in countless industries struggle to manage cash flow due to outstanding invoices. As a business owner, you know and understand the hardships of receiving payment of invoices on time and in full—it’s rare.

With unpaid invoices, your cash flow can dwindle to the point of no return. This makes it impossible to carry out everyday operations. With invoice factoring, your business will have the opportunity to get a consistent source of payment. This will allow you to increase current cash flow and secure a strong source of working capital for growth.

Build Strong Long-Term Business Relationships

No matter what industry your business is in, to become a leader you typically need the help of partners. Partners can help your business succeed in areas you never thought possible. This is made possible by building solid relationships.

When your business partners with another, they count on you to be responsible with the financial promises you have made. Show partners that you take their partnerships seriously with on time and in full payments using invoice factoring.

When you use invoice factoring, you will not only be able to secure a strong source of working capital to pay your partners, but also free up time to treat them with a higher level of service. When you partner with a factoring company, they will take on the task of collections—cutting down your administrative tasks.

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About the Author:

author image Since 1991 I specialize in Invoice Factoring, PO financing and ABL facilities. I currently work internationally with companies in the US and Canada via our internet marketing division. Specialties: Accounts Receivable Factoring and Payroll Funding for Manufacturing, Oil & Gas, Telecommunications, Wholesale Trade Distribution, Staffing and Transportation. I always enjoy helping companies rise to the next level of success.

View More Posts By Robert Bernfeld