Gaming Manufacturers – Having Access to Immediate Cash Through FactoringThe gaming industry is exploding with new games being developed requiring new technology and machines. With the increasing demand of the gaming sector, gaming manufacturers have to keep up with their competition if they want their business to stay afloat. In order to do this, they need constant flow of capital.
There is huge profit to be made in this booming industry. But you need a lot of capital if you want to enter this business. You need money to pay for your manufacturing equipment, the salary of the people who will test and operate them and for the raw material that you bought from your suppliers.
The Need to Manage Cash Flow
For a gaming manufacturer to succeed in this business, you must be able to manage your cash flow efficiently. But when you are in business, you will find that there will come a time when things will not go as planned. During such times you will have difficulties in meeting your payroll, or paying your suppliers. These are the times that keeps gaming manufacturers from expanding their businesses.
But That Should Not Be the End
Almost all businesses fall in hard times. You must not be discouraged if you are currently experiencing financial hardship because there is available help. Have you heard of factoring companies? They are financial services which help cash-strapped business owners like you to keep their business going.
Financial Help Better Than the Banks
If you need fast cash, factoring companies are your best option. Here are the reasons why:
- • They are not concerned about your credit rating. There will be no checking of your bank accounts or that sort of thing. All they need from you are the invoices you have issued to your clients. Your invoices mean that you are expecting money which of course is not yet immediately available.
- • They will not ask you for collateral. Factoring companies are willing to “lend” you money based on the amount of the payables you are expecting.
- • They will “lend” you the money that you need without checking your credit history. You don’t need to prove to factoring companies that you are good at paying your debts. They will base their decision on how much they will “lend” you by the amount of payables you are expecting from your invoices.
- • You can get your money quicker with factoring companies. Since all they need are your invoices to your customers and no credit checking, they will release your money in a couple of days.
The money that the factoring company will provide you is not a loan. But they are not a fool either for giving you their money without expecting anything in return. It is your invoices to your customers that assure them that the money that you “borrowed” from them will be returned.
This is the best option for gaming manufacturers if they are currently having trouble with their cash flow. Factoring companies like NeeBo Capital are ready to extend their financial help. Their interest rates are the lowest in the industry which is a good reason why they are a good choice.
Why Choose Us?
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