As a business owner, nothing makes you more fearful than cash flow problems. With cash flow problems, your business is at a standstill in terms of growth and handling day-to-day tasks can become somewhat of a difficult task. Thankfully, there’s a solution.
How an Invoice Factoring Company Can Aid Cash Flow Problems
No matter if you are stuck in a slow season, or took a big financial hit from a big order, an invoice factoring can help you better manage and control your cash flow. Here are three of the biggest fears of business owners that an invoice factoring company can aid.
1. You’ll Never Have to Turn Down Business Because of Lack of Capital
By partnering with an invoice factoring company, your business will never have to fear turning down new business due to poor cash flow. An invoice factoring company will help you utilize the benefits of invoice factoring.
With invoice factoring, your business will be able to get an advance of up to 96% of your unpaid invoices in just 24 hours or less. By utilizing invoice factoring, your business will be able to get fast funding in order to put cash back in your pocket. By consistently utilizing invoice factoring, your business will be able to strengthen its cash flow and take on more work than ever before.
2. You Won’t Incur Any Additional Debt with Non-Recourse Invoice Factoring
One of the biggest issues that a business owner can face is taking on another loan. With loans, come debt, and with more debt to your businesses name, the more monthly expenses you’ll come across. By partnering with an invoice factoring company that specializes in non-recourse factoring, your business will be able to get risk free financing.
Non-recourse invoice factoring companies allow you to get instant access to the cash owed to your business without incurring any additional debt. Because they are purchasing your invoices with a non-recourse agreement, they will take on 100% of the responsibility if your client fails to complete payment on their invoice.
This is a major benefit to businesses of all shapes and sizes. Not only are you getting access to the cash already owed to your business at extremely low rates, but also you’ll have a guarantee that your cash flow will stay secure.
3. You’ll Never Have to Delay Payroll Again Using Invoice Factoring
When your business’s cash flow is low, the first people to suffer from it are your hard working employees. Without cash in your pocket, it’s impossible to pay them. An invoice factoring company will help your business secure a strong source of working capital, quickly, to ensure that you’ll never have to delay payroll again.
With invoice factoring, you are getting immediate payment for your invoices. You’ll never have to wait the typical 30, 60, or even 90 days for payment of invoices or getting financing through a bank. With invoice factoring, you can get up to 96% of your invoice amount in your pocket in just 24 hours or less. This can help you keep your cash flow balanced to ensure that your payroll will never suffer.