Customers who fail to pay, newcomers to the industry, seasonal sales patterns and difficult economic conditions; all of these can threaten the financial status of a company. Adequate financing is imperative to any business. If a firm faces a rough patch or unexpected growth and can’t get financing to fund normal operations, then it will be stuck in a bad position.
You don’t have the financing to accept new projects or customers and you don’t meet strict bank loan requirements. Accounts receivable factoring can help. AR factoring is a business financing method that exchanges your unpaid accounts receivable for cash. Factoring receivables provides cash within a few short days (or sooner), so you don’t have to wait on lengthy approval times.
So how can your business use AR factoring?
Take on new clients
Buy or lease new equipment
Pay service providers
Tackle overhead costs
Hire new employees
Pay utilities and other bills
…. OR whatever you want
Factoring accounts receivable means you can finally relax. Your business cash flow problems are over.