Stop Waiting On The Government To Pay Your Invoices
Working with the government is good business. You know the money is coming and it’s a steady stream of work. However, your company spends weeks or months waiting on a paycheck that you earned a while ago. For some, that income is necessary to keep the lights on, let alone keep employees paid. There is a way to get a majority of this money within a week.
A Merchant Cash Advance Loan: we did the math
Like a sheep in wolves clothing, the MCA product is a troubling and rapidly growing segment of the small business online lending industry today. A small business owner must be very careful and understand the true cost APR of this kind of capital. If they don’t, they run the risk of true financial Armageddon, and a wise small business owner should seek all other reputable options for capital before selecting to get a seemingly low cost, fast MCA for their small business enterprise.
Buyer Beware! How To Do Due Diligence On A Business
In the fast-paced and interconnected world of commerce and technology, the need for businesses to protect themselves has never been greater. Businesses seeking a provider for services must start a due diligence effort before signing any contractual agreements. If not, they put their own capital or employees at risk. Merriam-Webster defines the term due diligence as research and analysis of a company or organization done in preparation for a business transaction.
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.
What Are Accounts Receivable Funding Companies?
When you’re managing your own small business, it seems there is no end to the amounts of expenses it requires. You know the phrase, “you have to spend money to make money,” but man! Sometimes it feels like there isn’t an end in sight. How do you get funding to take your company to the next step? You’ve heard of lenders and investors, but what about accounts receivable funding companies? They could be your business’s best option to take itself to the next level.
Types Of Funding
Small business owners have many different types of funding options. Most fall into one of two categories: equity or debt. Equity is giving someone a bit of ownership in exchange for some monetary support. Partners, angel investors, and venture capitalists are all examples of equity funding. With debt, you keep your ownership, but you’ll have to pay creditors back—often with interest. Creditors include lenders, small business loans, and banks. Depending on the agreement, crowdfunding or borrowed money can be either equity or debt funding.
You know all about your accounts receivables. They’re the outstanding invoices you’re waiting for your clients to pay. Business-to-business (B2B) and business-to-government (B2G) dealings can often take a while to get paid. It’s so frustrating because it’s YOUR money. You did the work already—you’re just waiting on getting paid for it. But did you know you can SELL your accounts receivables to gain access to your money now?
Accounts Receivables Funding Companies
Accounts receivables funding companies purchase your outstanding invoices. It starts with reaching out to get a quote on their services. The application process is much simpler than that of a bank or lender. They can pay you up to 80% of the accounts receivables value in a matter of days. After that, it’s the funding company’s responsibility to get that invoice paid. Once the customer pays the invoice, the funding company pays your balance, minus a small service fee. No loans, no interest, no headache!
How Use Accounts Receivable Funding
There are no restrictions on how your business can use those freed funds. Remember, money from selling accounts receivables was always your money to being with. Simply put, funding companies help you access it sooner. Once they purchase those invoices from you, they are no longer your worry! You’re free and funded to start your next project.
- Is there some new equipment you’ve been eyeing? Sell your accounts receivables and equip your business with new resources!
- Ready to revamp your website or start a marketing campaign to boost your sales even more? Funding companies can process your payment in a matter of days so you can begin advertising ASAP.
- Stockroom looking a little low? Increase your inventory, so you’ll be ready for the next surge in sales.
UC Funding for Your Accounts Receivables
Small businesses have long trusted our team at United Capital Funding to purchase their accounts receivables. We’ve seen every industry, every size, and every kind of invoice. To learn more about how UC Funding can help your business reach your goals, contact us. Call us at 877.894.8232 for a free consultation.
Article Posted On: December 05, 2018