Factoring Finance Mythbusting!
Remember the stories we used to hear when we were kids? Creatures like Bigfoot or stories like Hercules were myths we believed… at least for a little bit. But even though we’re older now and know better, there’s still the occasional myth that we tend to believe. Specifically with real-world actualities. And — just like with any industry—there are plenty of myths associated with factoring.
Why Are Companies Selling Account Receivable?
Every business owner encounters a situation where they need more cash for operations. You can have a superior product with large profits. However, if cash flow is bad, your business will suffer. It is possible to be successful in business but still encounter cash flow issues since good cash flow is essential to running a successful business.
Need Help With Your Cash Flow?
From time to time, businesses fall short when it comes to their cash flow. This can cause problems with payroll, business expenses, or even with client acquisitions. Most businesses have accounts receivable, but it takes time to invoice clients and then collect any outstanding debt. Well, what happens when your money runs dry?
How Does Factoring Work For My Company?
No matter if it’s a good time or a bad time for the economy, businesses may still need liquid capital to enhance its cash flow cycle and when you’re waiting on capital from your clients, you need that cash more than ever. Consider factoring your company’s invoices to access that capital and don’t worry if you haven’t heard of factoring before. If you’re wondering “what is factoring?” or “how does factoring work?” United Capital Funding is here to help.
Loan Programs for Small Businesses Impacted by COVID-19
Small businesses are the backbone of the American economy. There is no debate that the current COVID-19 pandemic will cause significant economic harm to this critical part of our nations GDP. How important is it for small businesses in the United States to be vibrant and successful? Consider these facts about the magnitude of the role small businesses contribute to the United States economy (data from the Office of Advocacy, Small Business Administration).
Factoring Government Contracts: How It Works
You finally landed a government contract! This is great news for your business—until you’re left waiting for the payment to actually roll in. Forget waiting! There’s another option available. Factoring government contracts can lead to more increased growth than waiting ever will. But how does the whole thing work? Where does one begin? At United Capital Funding we buy your government contracts so your business can grow.
Advantages Of Factoring Government Contracts
So, what're the advantages of factoring government contracts? Government contracts themselves can be a consistent flow of cash for your business. Even one contract can lead to more in the future. However, sometimes this money can take time to get in your hands. To address this timing issue, the biggest advantage of factoring government contracts is getting your money within days.
Additionally, during certain times such as election years, policy changes, or even government shutdowns, being paid can take some time. However, factoring government contracts helps you avoid these messy situations and lets your business continue to flourish.
How It Works
You know that factoring government contracts could be a huge advantage in your company. But how does it all work? With the help of UC Funding, there are three easy steps to the process.
- Call or apply for government invoice factoring. This is a fast and simple process. Within days, we gather the necessary information to begin fulfilling your request. After all, you deserve to have your money as soon as possible.
- We process your request. After your initial consultation, our experienced team works to process your request within a day. We have years of experience that enables us to do this quickly. If you compare us to other companies, United Capital Funding can get your approval significantly faster.
- Get approved and receive your money. Once your application gains approval, you’ll receive your money—usually within a few days. This amount can consist of about 80% of the total amount. The remaining percentage is sent to you once your client pays in full. For our services, UCF takes only a small processing fee from this amount.
We ensure all of our receivables funding is in full compliance with regulations. This, of course, includes all applicable Federal Acquisition Regulations and the Assignment of Claims Act. With our years of experience, UCF is the best option. Choose someone professional to factor your government contracts.
To begin factoring your government contracts, call United Capital Funding today. We will walk you through the application process, so don’t worry. Our specialists make sure you know what to expect and when the funds will be in your account. To begin, contact our government invoice factoring specialists today at 877-894-8232. We look forward to helping your business grow!
Article Posted On: April 11, 2019