Factoring Can Be Of Assistance To Your Janitor Services BusinessWhen your business involves providing janitor services you need to maintain and operate a staff of cleaners, maids, and other utility personnel who are trained in every aspect of cleaning, washing, stain and odor removal, vacuuming, and other tasks required to keep the areas and space of commercial establishments and industrial plants fresh-smelling, pristine, and sanitary.
Not to mention that your services should include equipment, cleaning products such as stain removers and odor eliminators, and peripherals like air fresheners. All of these cost money and when your cash flow is insufficient, you are in danger of making impulsive decisions such as going to the bank or a loan shark, both of which can cost you a lot more money in interest payment.
How Factoring Can Work for Your Business
If you are in the janitorial service line of business and would like your cash flow to be steady and predictable, consider engaging the services of a factoring company. This will allow you to concentrate on your business operations such as your payroll, business expansion, purchase of new equipment, training for new personnel, and daily expenses -- instead of scouring around for funds which can put you in debt because of the astronomical interest rates.
The factoring company will advance your business up to 80% of much-need funds to sustain your business operations by purchasing your accounts receivables, do the collection of payments due to your business from your customers, and release the 20% balance minus commission and service fees when your customers have paid in full. The only requirements would be the creditworthiness of your customers and your monthly volume of invoices.
Engaging the Services of a Reputable Factoring Company
A factoring company understands the needs of a business like yours in providing janitor services and how you operate. A factoring company also knows that while your invoices are tied up because of slow-paying customers your business is liable to miss many opportunities to generate revenue. That’s why your choice of a factoring company is important. For one thing, your factoring company should be prompt in its response to your urgent requirement for additional funds
It also helps to engage the services of a factoring company that has a solid reputation for being trustworthy, professional, and reliable. A factoring company like NeeBo Capital can:
- • Deal with your slow-paying customers.
- • Handle your collection and take away the burden of not only the time spent on trying to collect payments but the cost of collection as well.
- • Help you meet payroll obligations and tax payments.
- • Let you decide how many of your invoices you wish to sell and when to sell them.
- • Assist you by providing you credit checking services.
- • Allow you to enjoy purchasing in bulk discounts as well as discounts on early payments.
- • Provide you with case discounts on your materials.
- • Improve credit rating when you regularly have adequate funds to make timely bill payments.
- • Provide you with the cash necessary to purchase new equipment to expand your market for increased revenue.
- • Let you acquire new customers by easing the burden on your cash flow to enable you to introduce new products or launch new services.
- • Facilitate your company’s management of your accounts receivable in a detailed and complete portfolio.
A Wide Range of Services
Their wide range of services include asset-based lending, trade finance, and other lending options such as restructuring of payables, merchant cash advance, equipment leasing, franchise financing, and credit insurance.
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