How to Get Quick Cash
Do you run a self-owned business to business in and around New Jersey, the Eastern/Southern part of Pennsylvania, lower Connecticut, Delaware, Philadelphia or New York (New York City, Long Island, Westchester County)? If yes, then it would be much easier for you to fetch some quick funds for your business without going through the typical bank loan hassle. If your business’ cash reserve has stumbled to a halt, then knocking on the doors of the banks may not be a wise idea. Adding to your woes, if these banks are located at far-off places, your trouble gets more intense. Then after a long drive to and fro, if you come back empty handed, you would only blame your luck, not the inconsiderate bank officials. Rather than burning too much gas in your car, you can find a reputed factoring company in the nearby area, and get ‘flash finance’ through account receivable factoring.
Now, you might be wondering why we call it ‘flash finance’? Considering the speed at which a bank will process and possibly reject your application, you can get cash in your hand much quicker. It means, you will get the money in a flash and be ready for your next business endeavor.
When our body and mind reacts to a certain situation, we call it ‘reflexes’, and that’s key to our survival and prosperity at a later stage. The same theory goes for a business. If your business faces dearth of cash, you need to react quickly on its behalf. You better look for a dependable factoring firm if your business is in any of the areas mentioned above to tide over such financial difficulties. If you have some account receivable invoices, and you can’t wait to complete the term of 30, 45, 60 or more days, then selling a single invoice or multiple invoices to a factoring company will easily solve your cash flow shortage.
While buying the invoices, a factoring firm typically considers the following things:
• Your company’s Balance Sheet.
• Profit & Loss Statement.
• Account Receivable History, Average Term, Collection Rates, etc.
• Details about your top customers.
As mentioned earlier, when your business gets enough funding, it moves out of the survival mode. Then your thought process shifts from meeting up your operational expenses to serving your customers better or putting a new business plan into effect. Hence, getting funds through factoring helps your mind focus on the developmental areas that make your business bigger and stronger.
Now, you might be wondering why we call it ‘flash finance’? Considering the speed at which a bank will process and possibly reject your application, you can get cash in your hand much quicker. It means, you will get the money in a flash and be ready for your next business endeavor.
When our body and mind reacts to a certain situation, we call it ‘reflexes’, and that’s key to our survival and prosperity at a later stage. The same theory goes for a business. If your business faces dearth of cash, you need to react quickly on its behalf. You better look for a dependable factoring firm if your business is in any of the areas mentioned above to tide over such financial difficulties. If you have some account receivable invoices, and you can’t wait to complete the term of 30, 45, 60 or more days, then selling a single invoice or multiple invoices to a factoring company will easily solve your cash flow shortage.
While buying the invoices, a factoring firm typically considers the following things:
• Your company’s Balance Sheet.
• Profit & Loss Statement.
• Account Receivable History, Average Term, Collection Rates, etc.
• Details about your top customers.
As mentioned earlier, when your business gets enough funding, it moves out of the survival mode. Then your thought process shifts from meeting up your operational expenses to serving your customers better or putting a new business plan into effect. Hence, getting funds through factoring helps your mind focus on the developmental areas that make your business bigger and stronger.