Is accounts receivable factoring right for my business? Factor accounts receivable could free up useful working capital for your everyday cash needs
If your business has got a considerable amount of money outstanding due to unpaid invoices, factoring receivables accounting could be the perfect solution. This type of borrowing involves selling your outstanding invoices to a third party. They will pay you an immediate advance on a percentage of the invoice total, then pay a further amount once they have recouped the invoice amount from your customer.
Particularly if you have clients that you’ve been chasing for months and who still haven’t paid, accounts receivable factoring could save you the time and money involved in debt recovery, as well as providing a welcome injection of cash to keep your business ticking over.
For an established business that has a number of clients, some of whom have owed significant sums for a while, accounts receivable factoring can be a good way of obtaining finance without taking out a business loan.
Our team can put you in touch with experienced accounts receivable factoring companies, enabling you to get a speedy, convenient resolution to your current cash flow issues.