Benefits of Factoring Invoices
If your business wants working capital to pay bills, fund growth, or negotiate discounts then it’s time to consider the top 10 benefits of factoring invoices.
All business owners experience the ebb and flow of cash flow but with banks tightening the extension of credit many options are dwindling. Fortunately, accounts receivable funding is going strong after decades of continued growth. Invoice factoring options are now more flexible and cost less than ever before.
Factoring companies will fund an immediate cash payment on the invoice amount, collect payment from your customer, and release the reserve balance less the factoring fee to you (for more details and an example see How Invoice Factoring Works).
Rather than a loan, factoring is the purchase of outstanding invoices at a discount. It is this distinction between selling invoices and obtaining credit that plays a key role in the many benefits unique to factoring. Here’s a look at the…
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