Factoring is like accepting credit cards from your customers. The credit card company (Fairbanx) pays you at the point of sale and then waits to collect from your customers. It’s that simple. Click here to see how factoring works.
Q: Do you buy our accounts receivable (invoices)?
A: Yes, that is exactly what we do. In effect, you sell your right to payment by the respective customer.
Q: Why should I factor my receivables?
A: To figure out whether you should factor your receivables, answer the following questions.
- Do you need financing and the bank has said no?
- Have you outgrown your Line of Credit?
- If your customers paid you quickly, could you run your business more efficiently?
- Are you “Financing” your customers by carrying their accounts for 30 to 90 days or more?
- Is your business growing faster than your operating capital?
- Have slow-paying customers got you in a cash flow crunch?
- Would your sales improve if you could stop worrying about cash flow?
- Could you take your business to the next level if you did not have to lock your cash in Accounts Receivable?
- Would you like to turn your business into a Cash-On-Delivery business, rather than waiting for customers to pay?
- Isn’t it time you started working with your money instead of waiting for it?
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