A Source of Immediate Cash Flow

by Kevin Smith Author

Being an entrepreneur comes with a lot of unknowns. How long will it take to realize a profit? Will you be able to find qualified and loyal employees? Will your customers pay on time? Will your product or service stay in demand? Will you be able to keep a good grasp on the pulse of the people to know what to market next? It’s a lot to worry about and there are no guarantees. Luckily, there are some options available to ease some of your worries.

Wearing Multiple Hats

If at all possible, attempt to maintain a second stream of income for as long as possible. While it’s difficult to give the desired attention level to your business if you’re on someone else’s clock, it will be even more difficult to keep the lights on if there’s no money. Time for personal things like the movies and taking weekend trips will be nonexistent but at least you’ll have the peace of mind that comes with having a steady stream of income.

Get an Advance

So, what do you do if you’ve just opened your doors for business and you get a massive order? One so massive that your manpower and supplies can’t cover it. Let’s also say your personal bank account is tapped out and you’re all out of options to cover this order. And, you definitely don’t want to say no to a customer. So, what do you do? For new and established businesses, factoring services in Alpharetta are available to get you through a situation like this one. Once the customer is invoiced, a factoring service will give you cash up to a percentage of the billed amount, immediately increasing your cash flow. This affords your business the opportunity to continue operations, fill a large order, or even hire more staff.

The Approval Process

The approval process for Accounts Receivable factoring is quick and easy. This is not considered a business loan since the business’s customer owes the money. Now, in order for a customer’s account to be eligible for transfer to a factoring service company, the account must be in good standing. And, for the customers who pay you in advance or on time whose business is predictable and manageable, you don’t have to use factoring services. You’re able to pick and choose which accounts and which invoices you want or need an advance for.

Having a demand for your product or service that exceeds your current capabilities is not a bad problem to have. In fact, it’s probably the preferred problem if the alternative is not having any demand at all. When these issues arise, factoring services in Alpharetta are available for a reasonable price.

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About Kevin Smith Senior   Author

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Joined APSense since, December 7th, 2016, From Utah, United States.

Created on Jan 29th 2018 02:43. Viewed 212 times.


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