Factoring Services Save Your Small Business Time and Money
by Kevin Smith AuthorIf you
are a small business owner you know that sometimes cash flow can be an issue,
especially if you are just starting out. Luckily there are factoring services
in Savannah, GA. Here is a breakdown of how this valuable service is changing
the way small businesses manage their cash flow, while saving time, and money.
What Is Factoring?
Factoring
is selling your unpaid invoices to another company at a small discounted rate.
The other company pays your business cash for the invoices, and then they will
collect on the invoices when they are paid.
This
is especially useful if you are just starting out, you can have cash
immediately for services you have provided, instead of having to delay much
needed expenses until you collect from your customers.
How It Saves Your
Small Business Time
If
your business operates on an invoice system, you may give your customers 30,
60, or 90 days to pay their invoices, but you still need a cash flow while you
are waiting for them to pay. Bills, unforeseen expenses, and employee paychecks
don’t wait for your invoices to get paid.
Instead,
you can turn those invoices into revenue immediately. No more waiting, no more
wondering if you will get paid for a service you provided, because you already
have been paid.
Another
way factoring saves you time is because you do not need to follow-up with the
customer about paying their invoice, that is now the factoring company’s job.
So you can relax, do what you do best, and let the factoring company handle
collecting on the invoices.
How It Saves Your
Small Business Money
Perhaps
the most valuable way that factoring services help small businesses is by
saving them money. Small business loans are difficult to get, and have
incredibly high interest rates, which will cost you more in the long run. The
beauty of factoring is that you get cash right away and you don’t have to pay
it back.
Factoring
saves you money when it comes to collecting on the invoices too. Since your
employees don’t have to mail reminders, or make repeated phone-calls, you can
save employee time and money.
Factoring services in Savannah, GA are a great way to ensure
that your small business has the healthy cash flow to keep going strong. Give
your small business the boost it needs and save time, and money with factoring
today.
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Created on Mar 15th 2018 05:22. Viewed 564 times.