How Factoring Helps Commercial Laundry Installer Services Get Steady Cash FlowWhile there is a certain part of the population which abhors washing their clothes, there will always be the other half which views it as a real necessity. In addition, laundry services is not at all exclusive to residential clients given how the majority of demands for commercial laundry installer services come from other sectors mainly large industrial companies in need of serious takers for their dirty laundry. As such, there is much profit to be made in venturing into this kind of business. But reality tells you that the overhead costs for establishing a decent business would be too high for you to reach. For others who are already running their businesses, maintenance could be viewed as a serious financial dilemma. Loans aside, there exists a tool of finance known as invoice factoring, wherein invoices from your clients serve as a bargaining tool for obtaining cash quick fixes.
Factoring agencies are mostly responsible for invoice factoring. As opposed to what banks do, invoice factoring agencies do not require collateral simply because they see the value of the client invoices that you have at hand. The most common problem experienced by businesses is the slow turnaround when it comes to cashing these invoices. For a minimal fee, what factoring agencies do is acquire these invoices from you in exchange for about 90% of its face value. Then, they would be the ones to wait for the client, collect the full amount, and claim it as their own. Many companies turn to invoice factoring when in dire need of extra cash, and it is not at all an uncommon practice that should be frowned upon.
How Commercial Laundry Installers Benefit from Factoring
Washing machines, you need more than one if you are planning to be a big player in the industry. Remember that you are not the only laundry service provider around, and the longevity of your stay in the business will be defined by the quality of service that you offer. Washing machines are not cheap, and you would be needing multiple in order to stay relevant to your customers. The real financial dilemma you would be encountering here, however, would be in terms of maintenance, given how self-service laundry establishments are bound to have a broken washing machine every other day depending on your customers’ usage. For maintenance costs, however, you would be better off relying on your big clients which prefer invoices, as these could be used for instant cash through invoice factoring.
Get a free quote today
Commercial laundry installers cash flow problems are not new to NeeBo Capital. A standard flow of capital is a prerequisite for smooth operations when it comes to this business, and NeeBo Capital acknowledges that need by offering factoring services with rates as low as .59%, flexible terms, and neither collaterals nor monthly minimums. These advantages are among the best in the industry and could be used for your benefit.
Get a free consultation from oneTake advantage of low factoring rates in the Commercial Laundry Installer industry Today!!
Why Choose Us?
Rates at 0.59% - 1.5% for 30 days
Quick Link to Financial Resources:
|Purchase Order Financing||Accounts Receivable Financing||Asset Based Lending Options|
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
Click Here To See
Industries We Factor