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Funding for Small Businesses Through Accounts Receivable Factoring

Funding for Small Businesses Through Accounts Receivable Factoring

Many small businesses thrive on the funding they receive from sources of capital or financing. This is a necessary part of keeping the doors open in many cases. Without this available funding for small businesses, operations can grind to halt – not something you or your employees want to happen. A convenient and efficient method of obtaining this type of funding is made possible through something called accounts receivable factoring services.

A Financial Partner

A provider of accounts receivable funding helps businesses maintain their bottom lines and keep consistent cash flow even when invoice payments from customers are off schedule or somewhat inconsistent. Funding for small businesses through this process enables companies to reduce accounting tasks and instead, spend time focusing on maintaining and building business operations. You can think of your accounts receivable factoring provider as a business partner helping you to meet goals and expand.

A Clean Financial Statement

A reliable provider of these financing services may offer you a true non-recourse accounts receivable funding program. For instance, if you sell an invoice to the receivable factoring company and your customer for some reason does not pay the invoice, the company will absorb the cost and not hold you responsible for the payment. This leaves you with no risk and clean financial statement.

Help for Various Industries

These services are useful in a variety of industries, including, construction, manufacturing and transportation. Companies in the industries just mentioned, along with others unnamed depend on consistent cash flow without interruption in order to maintain operations and have the opportunity to grow. In fact, you can oftentimes receive payment for your invoice on the same day it is submitted to the factoring company. This is funding for small businesses at its best. You get paid when you need it and without delay.

The Process is Easy

In order to receive your funding, the process you must go through is straightforward and simple. There are basically three steps to follow. First, you must complete the job for your customer. Secondly, send your invoice for the work to the invoice factoring company. Thirdly, you get paid, often the same day. How much easier can it get? As well, fees are often quite minimal compared to the excellent benefit you receive from having consistent and reliable cash flow every time.

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