If you’re looking into financing solutions for your business, you may be considering invoice factoring, a process that lets you collect payment on invoices immediately, so you don’t have to wait for clients to pay. Factoring has been around for quite a while but there’s still a shroud of mystery surrounding it, at least for those who haven’t researched it. One area of concern that some businesses have involves the way invoice factoring affects customers. Let’s explore some common concerns so you understand the process a little better. Read more
For a business that depends on invoice payments rather than cash purchases, late customer payment can be anything from an annoyance to a disaster. According to some estimates, as many as 60 percent of invoice payments are late. When you have regular expenses such as payroll to meet, this can cause serious problems for your cash flow situation. The following are some tips to protect yourself from late invoice payments and enjoy better cash flow.
Running a successful business is challenging enough without making it harder for yourself by wasting money. No one wastes money on purpose, of course. There are many ways that money can slip through your fingers if you’re not careful, though. It’s important to learn as much as possible about business finance and to be aware of areas where you can manage your money more sensibly. Read more
If you are seeking funding for your small business, you should be familiar with UCC filings. The UCC or Uniform Commercial Code is a set of rules that govern financial transactions in the United States. The purpose of the UCC is to create a consistent set of rules that apply throughout the nation. Read more
One of the most frequently asked questions about factoring is one of cost. While pricing can be simple and straightforward when an all-inclusive model is used, there are variations in factoring services to consider because not all factoring programs are created equal. Here we will discuss the main program differences that affect a factoring fee, also known as the “discount rate”. Read more