![]() ![]() Let us know immediately so that we can discuss the payoff of your back taxes or a lien subordination with the IRS. Yes, tax problems are handled on a case-by-case basis. Yes, even if you have credit problems or a past bankruptcy. I have a previous bankruptcy, is funding still an option? It's very likely that your customers have already worked with a factor in the past as it has become very acceptable. What will my customers think?įactoring is very common and most customers realize that growing companies require more working capital than traditional banks will provide. Subsequent funding is usually received within 24 hours after verification. Initial funding takes between 1-3 business days after we receive your signed contract. ![]() How long does it take to receive funding? Accounts receivable funding is not a loan, therefore provides you with less debt on your company's balance sheet. How is invoice factoring different than a loan from a bank?įactoring is the purchase of a company's accounts receivable as opposed to a loan that creates debt on the balance sheet. Their margins are such that using invoice factoring is an excellent way for them to fund profitable growth. Janitorial – including general maintenance, carpet cleaning, construction, office maintenance, and pest control.Staffing – administrative, accounting, temporary, etc.Security Guard, Alarm and Surveillance Companies.Medical – hospital, nursing home, home care With government invoice factoring, your invoices are paid ahead of net terms and the factor company manages the collection effort on your behalf.The companies that benefit most from factoring (but are not limited to) include the following: This creates a cash flow issue since working capital is tied up in unpaid invoices. Often there is a gap between payroll and invoices being paid. The government invoice factoring process is similar to a standard factoring arrangement with some minor differences. Most companies that utilize invoice factoring have a staffing element and therefore a payroll to meet. As long as a company is doing business to business or business to government (federal, state, county, city) and issuing invoices for completed work, factoring is a financing possibility. Many types of companies can benefit from the use of invoice factoring. ![]()
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