Every day, we read or listen to a way to make our life easier. It’s the new laundry detergent packet (no more measuring) to the self-driving car.
When it comes to financing your business it’s still a struggle for many.
The traditional bank loan comes to mind immediately. The long application, the stacks of documents, and then you wait, and wait, and wait. The chances are slim that a young business will qualify for a business bank loan.
Now there is the quick fix of an MCA/ACH loan. You get this lump sum into your bank account. You pay your bills, and breathe a sigh of relief. Then every day or every week, there is an automatic deduction from your bank account. This is fine for a while, but then, once again, your bills are due, which you pay, and then the automatic withdrawal, puts you in an overdrawn situation. And, more fees are incurred, putting you farther into a negative balance. Most of the time, these loans have a very high interest rate, and they must be paid off, before you can get more money.
Think about Factoring/Invoice Financing
Using Factoring improves Cash Flow without giving up equity or going into debt.
Those are the two obvious values/advantages of factoring that come to mind immediately when mentioning factoring. Steady Cash Flow/paying your bills on time and Grow Your Business
What people don’t think about is the major back office functions that factors do as a matter of course in managing your account.
Growing without debt makes your company more profitable and stronger. Establishing good business credit like paying your bills on time is hard if you don’t have steady, predictable cash flow. And, ultimately, you want your business, as well as personally, to have good credit.
Factoring is used throughout the world by businesses large and small, and has been since Biblical Times. Improve your Cash Flow and get Peace of Mind.
At Guilin Funding we have been helping businesses just like yours grow and thrive in today’s rapidly changing economy. Give Anne Gordon “The Money Lady” a call directly at (877) 872-4879