Factoring for Consulting FirmsRunning consulting firms is not for the faint of heart. If anything, the pool of talents that one would need to put together in order to provide the best specialized service one could offer would have to be a well-rounded one and composed of individuals with strengths in various disciplines. As such, manpower is the essential factor in making it big in this kind of business. Given how the business is derived from knowledge of industry-specific specialists and subject matter experts, the main bulk of the company’s expenses would be focused more on continued personal development in terms of knowledge acquisition. There will be times of financial need for the company, and it is during these times when relying on invoice factoring instead of securing a loan is a highly recommended.
How Invoice Factoring Could Help
Invoice factoring is not a new phenomenon in the business scene; in fact it has been a popular method of acquiring extra cash for companies experiencing some financial difficulties. As opposed to a bank loan where a company’s credit rating would matter most, invoice factoring just involves your clients’ invoices which would vouch for the inflow of cash that you are expecting. In short, the factoring agency would be banking on your clients’ reputation, not yours. Another good news is how collateral would be unnecessary when it comes to invoice factoring, given that the invoices themselves serve as the guarantee that the factoring agency needs for it to grant you that much needed cash. In a way, think of it as them buying your invoice, and you giving them a discount as a token of gratitude for the early arrival of your payment.
How Consulting Firms Benefit from Factoring
Running a consulting firm means scouting talents who serve as subject matter experts in their own fields: financial, information technology, management, human resources, legal, hospitality industry, etc. These are just some of the many areas covered by such firms on top of the more specific ones such as public relation, environmental consulting, and real estate, to name a few. In any case, it is the maintenance of these talents, the guarantee that they would not leave your company for another with a better offer, which matters most. As such, your extra expenses would come in the form of benefits, payroll increase, and the likes. This is where invoice factoring comes in if ever your find yourself short of cash.
How NeeBo Capital Could Help
NeeBo Capital has been dealing with consulting firms for many years now and is totally aware of the increased availability of capital necessary to maintain such a business. What sets NeeBo Capital apart from the rest of the competition would be its low interest rates which start at just around 1.5% for flexible terms starting at 30 days. The amount would depend on the face value of your invoice, but ranges from USD5k to USD1 million, depending on what you need.We offer some of the lowest rates in the Consulting firm industry. NeeBo Capital factors accounts receivables, we deal with companies based on the financial strength of their customers. Factoring your invoices has never been easier! Our recent clients who operate Consulting firms have benefited from increased availability to capital.
Here at NeeBo Capital we ensure that Consulting firms has the cash flow it needs to sustain growth, as well as provide for its clients and meet payroll.
Past earnings show there is millions to be made in Consulting firm industry. Much of the services involved in this area bring in large amounts of capital. If you are doing business in the Consulting firm, we are one of the leading factoring companies in your industry.
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Rates at 0.59% - 1.5% for 30 days
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General Articles about Accounts Receivable Financing and Factoring:
» 08/01/2012 Debt Financing or Off Balance Sheet Financing?
» 09/15/2011 What to know when selecting a Factoring Company
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