Choosing An Accounts Receivable Company
As a growing business (in the B2B or B2G realm), you know it can be difficult to expand with a slow source of income, but relying on payment for accounts receivables does not mean that you have to wait for your money.
Factoring Finance Saves Businesses?
Who would have thought you’d be struggling to pay your workers even though business is booming? It’s actually a common problem many have when their revenue comes from accounts receivables. Your client’s check is coming months from now, but your employees need their money now!
Florida-based commercial finance firm unveils innovative platform
Commercial finance firm, United Capital Funding, unveiled a new reporting platform this month to its clients. The reporting platform, Cadence, is the latest addition of cutting-edge features that mark the finance firm’s continued commitment to client-centric offerings.
Utilizing Commercial Factoring In B2B Companies
As a B2B, or a business providing a product and or service to other businesses, you rely on payments being made on time. But the reality is that sometimes you can be waiting for payment for who knows how long. This isn’t an ideal strategy for a growing company.
Looking For An Example Of Factoring In Finance?
For some, it can be difficult to understand the need for factoring. At United Capital Funding, we found it important to provide an example for everyone.
Questions To Ask Your Factoring Company
What Questions Should I Ask My Factoring Company?
With something as important as your business’s finances, you want to understand every aspect of it. That’s why it’s always important always to ask any question you might have. Here are a few questions to ask a potential factoring company to ensure they’re the right fit for you.
How Does Factoring Work?
We often describe factoring as selling your accounts receivable. United Capital Funding is one of these factoring companies. Once we purchase your unpaid invoices, we’re in charge of getting them paid. We’ll pay you 80-90% of the full amount right away. Once your client pays UC Funding the invoice in full, we’ll pay you the remaining 10-20%. We’ll keep a small fee from this balance for our services.
What Are The Fees?
United Capital Funding is 100% transparent. When you contact us for a free consultation, you’ll know exactly how much our service charges. You get your money sooner, with no hidden fees or interest. We don’t charge fees for application, documentation or closing and there is typically no termination fee. The only time we charge clients is when we subtract a small cost from our final payment. That’s it!
Can My Business Use Factoring?
As it’s not a loan, we can fund companies without the requirements of a bank. Major companies and new start-ups alike can get approved. It starts with a simple application process completed online. One of the benefits of factoring is our flexible approach to funding. Companies completing B2B (business-to-business) or B2G (business-to-government) sales may qualify for funding. To find out if your company can qualify, start by filling out this short online application. United Capital Funding has worked with companies in a variety of industries such as:
- Companies With Government Contracts
What Can I Use The Money For?
In short: whatever you want! Remember, this is YOUR money. Working with a factoring company enables you to access it sooner. You don’t have to be in financial trouble to use a factoring service. Most of our clients are solid, growing businesses. Businesses can use factoring to fulfill payroll, invest in new equipment, or advertise.
How Is Factoring Different From Loans?
Some people might refer to factoring as factoring loans. But they are NOT loans in the traditional sense. There is no lengthy application process or interest, and that’s because it’s your money to begin with. We’re also not a broker. As a funding company, we use our capital to purchase accounts receivable. On the other hand, brokers don’t provide any funding themselves. Instead, they work as a middleman, connecting businesses with lenders for a fee. Remember, their fee is in addition to the costs or interests the lender might charge!
United Capital Funding For Factoring
UC Funding provides factoring services on a national scope. Do you still have questions? Give us a call at 877.894.8232 or contact us online. You can also apply online for a free consultation. We look forward to being one of your funding partners.
Article Posted On: December 31, 2018