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).
How Selling Receivables Can Help Your Business Thrive
“It takes money to make money,” as the adage goes. This can be especially true if your business is new or growing quickly. Unfortunately, it’s during these situations when cashflow can be tight. Take a look at your books, do you notice a big chunk of your money tied up in accounts receivables? Selling these invoices to a third party frees up your capital so you can take your business to the next level.
Selling Receivables is an Option
Hate the idea of borrowing more money from a bank? Consider selling your invoices to a third-party commercial finance company. They can help business with open business-to-business (B2B) or business-to-government (B2G) accounts receivables. This partnership enables you to grow your business and focus on what you do best. It’s YOUR capital, you just need to access it.
You can be confident in your decision to work with United Capital Funding. We’re one of the largest U.S. specialized commercial finance businesses. We’re also a wholly owned subsidiary of Gulf Bank & Trust. We’re transparent, never charging hidden fees or penalties. Additionally, our rates are much lower compared to other factoring companies.
We know how important your business is, and want to ensure you understand the process. We’ve compiled a list of the most frequently asked questions to get you started.
Time is money. Benjamin Franklin is credited with saying this often-repeated phrase. It’s even truer today than in the 1700s when he coined it. If you’re in need of cashflow to help grow your business, you want it now. That’s why UC Funding expedites all our transactions. We pre-approve businesses within 24 hours and process funding within five business days.
Starting and running a business is difficult. UC Funding strives to make this complex process as easy as possible. We’re not a bank, so we don’t need dozens of forms—it’s just three quick steps! All you have to do to get started is fill out a simple online application. Once you sell, your clients will still make payments to you, not us, so there’s no confusion. Also, there is no monthly minimum requirement so you can finance with us only as you need to.
Help Your Business Thrive
With UC Funding helping you finance your business today, you can get where you want to be tomorrow. Call 877.894.8232 or click here to get a quick quote now.
Article Posted On: August 02, 2018