4 Ways to Spot a Bad Customer
It is said that one of the secrets to running a successful business is to have only great customers and to avoid the bad ones. This makes perfect sense, but is much easier said than done.
Collapse of MyPayrollHR: What should I do?
As was widely reported online and in most business-related publications, the abrupt closing of the payroll giant processor, MyPayrollHR has left small businesses and their employees scrambling in a state of financial panic. And with good reason. MyPayrollHR and its parent company, Value Wise Corporation closed last Thursday (September 5, 2019) without any warning. It shut down its website and stopped returning phone calls. The company stated that it had over “5,000 companies as clients” as of this past summer. To say this has caused trouble for their former clients would be an understatement.
Why Choose AR Factoring For Your Business?
Accounts receivables (AR) are about as useful as a check you can’t cash out. Waiting to get your money is the name of the game in many industries, but that doesn’t mean it’s easy. But why shouldn’t you get that money sooner? It’s your money after all!
Why Small Business Invoice Factoring Is The Right Choice
Bills are everyone’s worst nightmare. Especially when the money for those bills is MIA. It’s also an unfortunate truth for many small businesses—invoice payments often come in weeks or months later and it’s hard to keep up. But what are you going to do about the bills you have right now?
Florida-based Commercial Finance Firm to have Expert Speak at International Conference
Tampa, FLA (August 22, 2019) – United Capital Funding Chief Marketing Officer Mark Mandula will represent the commercial finance firm at WOA’s inaugural convention in Belgium. The conference will start on Tuesday, October 7, 2019 and is a two-day event that offers networking and educational opportunities to professionals in the finance industry. The theme of the conference is “A World of Opportunities.”
Account Receivable Factoring at Any Stage of the Business Life Cycle
Maybe you’ve been under the impression that account receivable factoring is only useful at the beginning of the business life cycle. However, an established and mature business can also benefit from factoring. Whether your business is a start up or an established enterprise, account receivable factoring can provide working capital and debt assessment.
Small Business vs. Large Business
Small businesses are very different than large ones. They are a very diverse group in many different industries. Small businesses also exist in different stages of development with different financial profiles and operating histories. This makes traditional lending an unsuitable fit for a small business. Between application fees and restrictions on funding, bank loans do not adjust to meet the needs and requirements of small businesses. Business owners know the unique challenges that come with owning and managing a small business. Time and resources are always limited, and sometimes, you need funding fast. With a certain minimum in Accounts Receivables, you can partner with a factoring firm to receive funding in just a few days.
Why Accounts Receivable Factoring Works
The best part is that factoring is not a loan; you do not incur debt or pay interest. You also don’t have to worry about fitting into a constrained bracket. Maybe you need less money than a bank wants to give you, or you don’t want to have to work within brackets. Also, factoring can provide future funds if needed. With traditional loans, you would have to reapply all over again for funding. It also does not make adjustments for your individual business’ needs.
Account receivable factoring knows that one box does not fit all. Not every small business fits perfectly into a checklist or bracket. Factoring is done by every single business sector in the United States and has adapted to the unique characteristics of the industry. If your business is expanding rapidly or steadily maturing, you can benefit from account receivable factoring.
Article Posted On: January 01, 2018