Bidding for government contracts can be a great way to grow a small business. Government agencies at the federal, state, county, and city levels purchase every type of good and service. If you sell a product or service, there is a good chance that the government buys it. However, finding a government contract is actually […]
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Common Problems When Factoring Invoices
Invoice factoring is commonly used by small and midsized businesses to improve their cash flow. Companies get funds by sending regular funding requests to the finance company. This article covers seven problems that can affect funding requests. It explains what causes the problem, discusses possible solutions, and describes how to avoid the situation in the […]
How to Check Your Client’s Business Credit (Commercial Credit)
Most companies that sell products or services to commercial customers have to offer payment terms – the option to pay invoices in net 30 to net 60 days. Many customers will do business with you only if you are willing to offer these terms. The problem is that not every company is creditworthy and deserving […]
Should You Switch Factoring Companies?
The decision to switch factoring companies should be made carefully. Many business owners underestimate the complexity and potential drawbacks of switching finance companies. This oversight can lead to problems that could have been avoided with proper planning. This article explains how the process works, common reasons for changing finance companies, and the potential drawbacks of […]
Improve Your Factoring Application with an Executive Summary
Invoice factoring is commonly used by business owners trying to turn their companies around. In these situations, getting financing is essential for the company’s survival. You can improve your chances of approval by including an executive summary with your application. This article discusses the factoring due diligence process and how an executive summary increases your […]
How To Leverage Early Payment Discounts (Increase Profits)
Many business owners complain of cash flow problems. However, a few companies actually have the opposite situation. They have excellent cash flow. In fact, they have more cash than they need to run their everyday operations. This scenario provides a great opportunity to increase profits. Companies with excess cash flow can use it to increase […]
Factoring Financing for Small Freight Carriers
Most small freight carriers don’t have adequate cash reserves. This situation is common for small businesses. Unfortunately, this lack of a reserve leaves them vulnerable to cash flow problems. Managing these cash flow problems is difficult because smaller trucking companies usually don’t have easy access to bank financing. This article discusses how small carriers can […]
Quick Pays vs. Factoring? Which One Works Better?
When it comes to dealing with slow-paying shippers, trucking carriers have two options: quick pays and factoring. This article helps you understand both options and covers the best strategy for using them. We discuss: 1. Slow cash flow is a problem Slow cash flow is one of the biggest problems for trucking carriers, especially new […]
Financing a Promotional Products Company
The promotional products market is highly competitive. Small promotional companies can’t often get the benefits of scale that come from fulfilling very large orders. Part of the problem is that they often lack the financial resources to compete for large orders. This could be due to ongoing cash flow problems or a lack of financing. […]
Financing a Call Center Using Invoice Factoring
Many companies consider call centers an essential but expensive aspect of their sales and customer service strategy. However, operating a call center in this highly competitive industry is challenging. Call center operators can easily experience cash flow problems, especially if they are new or growing quickly. This article discusses how to effectively solve the most […]