![]() ![]() By negotiating early-pay discounts or other payment incentives with your suppliers, you can put your rejuvenated cash flow to good use. Money-saving opportunities: Competitive rates are not the only way invoice factoring can save your company money. Startups qualify as well, so when your business is brand-spankin’ new, factoring can help you hit the ground running for long-term success. ![]() In addition, by factoring your open invoices, you can cover your daily operating costs and pay down current debt to rebuild your credit rating. Your invoice factoring company will provide these checks at no additional charge to you, so you can be confident in your customers’ quality and address any issues before they affect your business.Ĭredit-building and repair: You can qualify for a competitive invoice factoring program even if your business credit is less than stellar. However, credit and background checks are expensive to run and can quickly eat away your working capital. But more importantly, you are starting a relationship with your factor that can help your business in many ways:Ĭredit and background verification: It is critical to work with reliable customers to build a solid payment history and turn your sales into revenues. When you begin invoice factoring, you are taking control of your cash flow. Whether you want to factor one particularly slow-paying client or all of them, the choice is totally up to you!
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