Does Factoring Work For Your Business

Our Intern Manny asked me to write a blog explaining to you, business owners ‘how factoring can grow their business’ So I am doing just that. This article was created with you and Manny in mind.

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To start I need to say the economic crisis of ’08 has impacted us all, in regards to cash flow payment terms have been getting longer. Customers that would once pay in thirty days are now demanding 45 days to pay.

 

Clients that once paid in forty five days are now demanding sixty – many even go so far as demanding seventy or eighty days to pay.

This creates a serious problem for a lot of smaller businesses since many are not able to manage to wait that long to get paid. And Because of this, many businesses are forced to turn away these clients, or turn away new opportunities to generate business. For many, this makes a bad situation more shocking.

 

As a business owner you need to understand you do have options to combat these problems. Neebo capital.com have over 40 different lending options and we lend anywhere from $5k to $10 million revolving. However in this situation your best option would be factoring invoices.

 

Factoring invoices speeds up your income through a factoring company like Neebo capital.com and reduces you having to wait until 90 days to get paid by customers. Our factoring company gives up to 90% your invoices upfront, and the remaining 10% when the invoice is paid, minus a small fee (typically around .59 – 1.5%). as soon as your customer pays the invoice we give toy the remaining 10%

 

To make this process work effectively, you approve the transaction with us neebo capital.com, the factoring company before hand, after which you make the sales to your customer.

 

As soon as you carry out the work, you can invoice your customer and hand over the invoice to us, the factoring company. This would provide you with the immediate advance while Neebo Capital.com holds the remaining 10% of the invoice until it is repaid. Ideally by using this process repeatedly you grow your business by taking on new clients that you could not have afforded previously.

 

Being approved for factoring is more or less easy – at least in comparison to other forms of business financing methods. Take the time to fill out our short for on Neebocapital.com for a instant quote. There is no obligation.

The History of Factoring Def, How Factoring Invoices Started…

Believe it or not Factoring Invoices is older than the last 5 presidents combined! If you still can not define factoring then you are most likely a business who is not using it as leverage. Almost all fortune 500 companies’ factor invoices to better manage their cash flow.  Neebo Capital is one of the top picks for US Fortune 500 companies.

Factoring def  goes like this…

The arrival of the well-known business practice of factoring invoices began since the inception of commerce that dates back 5,000 years. The earliest recorded factoring transaction of invoices was dated sometime before the revolution in the US when cotton, animal furs, timber and other materials were shipped from the colonies to Europe’s continent.

This was a way for ship sailors to carry on the harvest in their new land,  where merchants  awaited to loan their finances to the colonists.  We also see factoring def of invoices throughout the Industrial Revolution when factoring became more focused on credit when they assisted clients in determining the creditworthiness with their customers and setting credit limits.

The method of factoring invoices has been greatly approved over the years. We now have the ability to give instant quotes to potential factorees and loan then cash for their receivables within hours. Visit Neebo Capital and get an instant quote with rates as low as .59%.

 

Get an Instant Factoring Quote Today!