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.”
The 2018 Guide to Selling B2B and B2G Accounts Receivables Successfully
If you’re not careful, you can pretty quickly find yourself being sucked into selling your B2B and B2G AR or “receivables” to the wrong company. The relationship that exists between you, the one selling receivables and the company that’s buying them is one that is crucial--you have to get it right if you expect them to produce results for you.
The 2018 Guide To Selling Receivables
Step 1: Make Sure You Need This
There are a few items you need to figure out before you even really get started. Firstly, do you really need to sell your B2B and/or B2G receivables? Are you in a situation where selling receivables won’t actually cover the full scope of your indebtedness? If so, this might not even be the right solution for you. While we’re always eager to educate and talk to B2B and B2G entrepreneurs who are interested and pleased to be able to offer our insights, it might end up being a waste of your time if you do not have B2B and/or B2G receivables capable of covering (or nearly covering) the amount you owe to other parties as evidenced by a UCC filing.
Step 2: Make Sure It’s A Perfect Fit
There are a wide array of invoice factoring or purchasing companies out there. You need to make sure that the one you’re talking with is a perfect fit for your needs. If you’re a marketing agency but the company you’re talking with has only ever worked for IT firms, then it might be a poor fit and you should reconsider. UCF handles a number of different industries, including:
- Information Technology (IT)
- Government Invoices
- Security Guard
- Service Business
We’ve worked with a number of other industries, but this is where we feel most comfortable. Ask us for references and we’re happy to supply you with multiple companies in your industry who will explain how our proven, professional process works and how it has helped them.
Step 3: Do A Lot of Due Diligence and Research
Not just on which firm you’ll use, but also on how you’ll use them. Just because you’re selling your B2B and/or B2G receivables doesn’t mean all of them should be sold. Ask a lot of questions, like these:
- How long does it take to get funded from when I submit a B2B and/or B2G receivable?
- Is there a minimum volume or fee that I will be charged?
- Do I pay an extra fee for a “rush” funding?
- How much will I be charged when I get funding, either via wire or ACH?
- What if I don’t like the service and can I leave without a penalty or early termination fee?
- Is the firm I am thinking about using the “funder” or just a broker who is charging me a marked up deal?
There are plenty of questions you should ask yourself before jumping in with both feet. At UC Funding we only want to serve you once every single one of your questions has been answered and you are 100% comfortable.
Step 4: Get the Ball Rolling!
Even if you’ve decided to work with a company like us, you don’t want the process to drag on for forever. We know your time is valuable and we can give you a pass/go answer usually in one business day. This allows you to get back and run your B2B and/or B2G business and not continue to worry about cash flow. We can lower your stress level and help you grow profitably.
Step 5: Get A Quick Quote
UC Funding offers a quick, easy, no cost painless way to get started. Get a quick quote to see if UC Funding is the right solution for you. We can walk you through our process and what it looks like. We hope to hear from you soon!
Article Posted On: July 01, 2018