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.”
How Commercial Factoring Can Benefit Your Company
What Is Commercial Factoring?
Essentially, commercial factoring is a company purchasing your accounts receivable so that you can turn them into capital that you can use to run your business. Here are the steps that United Capital Funding follows:
- Step 1: A copy of your invoice is provided to United Capital Funding.
- Step 2: United Capital pays you 80-90% of the invoice in cash.
- Step 3: United Capital acts as your B2B (business to business) and B2G (business to government) accounts receivables department and services the invoice.
- Step 4: Your client pays 100% of the invoice to United Capital Funding at our secure lockbox facility.
- Step 5: United Capital Funding pays you the 10-20% balance less a small professional fee.
Commercial factoring, or accounts receivable factoring, is different from a traditional bank line of credit. This process focuses on the trustworthiness of your customers’ credit, not your company’s. You do not have to worry about narrowed credit availability due to credit cycles, economic volatility or market fluctuations. Commercial factoring eliminates the long approval process that you experience with loans. United Capital Funding is quick, free, and dedicated to getting you the working capital you need to run your business as soon as possible.
How Can Commercial Factoring Help Your Business?
Businesses thrive when they have the available funding to grow. With the extra capital, your company can cover employee salaries, operating expenses, and can purchase needed inventory or equipment to continue normal business activity. This speeds up the collection process for your accounts receivables and removes the pressure to follow up on the invoices. United Capital Funding takes that responsibility from your company, which increases your capacity to deal with other business issues and allows your company to grow without having to wait for the invoices to be paid, or never be paid at all. You will only pay for the invoices that are factored, and there is no minimum requirement.
Grow Your Business
At United Capital Funding, we want to see your business grow. Our goal is to help you achieve your business goals. Obtain a quote online, or call us for a quote at 877.894.8232 and see how United Capital can make the difference for you.
Article Posted On: February 28, 2018