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The Truth about Factoring
I have been in the factoring industry since 1998. I could tell you about the hundreds of millions of dollars I have obtained funding for my past and present clients but the truth is you probably do not care about that. You are interested in finding a factoring company or you are just kicking the tires trying to find out more about this financial tool. Let me get to the point. Before you fill out a form or multiple forms from different websites, do yourself a favor and spend some time at this site, watch our video, and examine our resource center to see if factoring is the right solution for your business.
Filling out forms on other sites that sell leads may have the consequence of flooding your phone or inbox with useless information. Let me stop the insanity and let's work together to resolve this critical juncture in your business and provide you with an easy stress free solution. In our presentation we explain how our free quote program works and the advantages of using our services at no cost to you.
The internet is filled with factoring companies and factoring brokers that clamor for your business and each of the factoring companies are telling you they have the best rates, best service, etc.
Here is the truth:
- No matter what they tell you over the phone or through their website you will not get an accurate quote until you send in all the required information.
- What type of factoring relationship do you want?
- Some factoring companies require financial information from your company…some do not!
- Some require term contracts….some do not!
- Some require minimums…some do not!
- Some require personal guarantees…some do not!
- Some offer prime plus rates…others offer flat rates!
- Some put a lien on your receivables when you sign their application…my factoring companies DO NOT
The point of all this is to tell you that I want to earn your business which I will do by NOT doing the following:
- I will NOT waste your time on the phone
- I will NOT ask you to fill out any applications for me
- I will NOT ask you for any money
- I will NOT give you unrealistic quotes just to get you in the door
In summary, if you need cash to make your business grow and have creditworthy companies that owe you money for your product or service, then I will work hard to make sure that you find the right factoring company "fits" with your business. Please give us a call, send us an email or find out how our free quote program saves you time and we will have our reputable factoring companies contact you today so we can get started taking your business to the next level!
What is Factoring?
How can factoring help my company's cashflow by using my accounts receivables?
Factoring is a fast, easy and flexible way to improve your cash flow and generate working capital for your company. Through the power of factoring you obtain immediate access to cash that is normally tied up for terms of up to 30, 60 or 90 days in your accounts receivable. This increased cash flow allows you to take advantage of growth opportunities, early pay discounts, reduce debt or cover operating expenses.
Unlike a traditional loan, factoring does not add debt to your balance sheet, and there are no loans to repay. By selling (factoring) your accounts receivable to a factor rather than borrowing from a bank, you simply convert one asset (accounts receivable invoices) into another asset (cash). You can factor your accounts receivable with a factoring company to improve your cash flow or help to accelerate your growth. There are no lengthy applications or loan committees, and typically no financials or tax returns are required. Factoring can be short-term or part of an ongoing financing program. New companies can benefit as well, since there is no requirement for a long-term credit history.
Factoring is one of the oldest and most powerful cash flow and management tools available to businesses today. This is because the most important aspect of the transaction is not the credit-worthiness of your company; it's the credit worthiness of your customers, this is why factoring can help start up companies as well as seasoned companies. So, factoring is a fast, easy and reliable financial transaction that allows you quick access to your working capital that is based on the financial soundness of your customers.
Let Diversified Funding Services help you acquire the capital that fuels your business. We know the problems of startups and high-growth businesses. Our factoring companies are aggressive well-capitalized funding sources and represent lenders who understand your industry and want to help your business. In short, we have the experience, expertise and financial resources to put factoring to work for your business and its accounts receivables.