The Benefits Commercial Pavers get from FactoringDoing commercial pavers jobs for clients and/or contractors is a very demanding business. One of the most difficult things that you have to contend with is waiting for the invoices to get paid. In many cases this can take 30 days or worse, 60 days. While you’re waiting, there are expenses to be paid. Fortunately, factoring can help you in this regard.
How Factoring Works
A factoring company can help your business in many ways, but the most important is they can advance money so you’ll have the means to pay suppliers, employees and other expenses. This is something you can get from other financial institutions, but the difference with a factoring company is it only takes a few days to get the money. In the construction business, money is time so this will give you an edge.
To avail of factoring, you need to meet only one specific requirement, and that is you must do business with reliable commercial clients / contractors. If you meet this requirement you’ll be able to avail of factoring’s many benefits. What makes factoring so attractive for construction related businesses is they can work with varying needs and requirements. While factoring can help with pavers, they are also capable of dealing with asphalt plumbing, cable installers, excavators, mechanical contractors and more.
How Factoring Can Help You Paving Business
Factoring provides several benefits. As pointed out, the biggest is your business gets a reliable cash flow to pay for bills or expansion projects. With factoring you don’t have to wait for payment to continue working. Because the factoring company does the collecting for you, you can focus on growing your business.
The other advantage of factoring is the company grows with you. No matter how big your paver business gets, factoring will always be there to provide assistance. Unlike banks, these companies are easy to reach and their terms are reasonable. What’s even better is they’re easy to follow and understand.
Once you have finished the job, just send the invoice as usual to your client and furnish a copy to the factoring company. Once the invoice is verified from the client, you’ll get the advance, typically around 70% of the invoice amount. After your client has paid, the factor will receive the fee you agreed to.
There are many factoring companies today so you won’t have problems looking for one. However, you need to do some research and compare their rates. Apart from that their website must also have case studies that you can study. Finally, an established factor will have had clients and testimonials to back their claims. If there are several businesses and individuals who have used their service, you can feel confident about their capabilities.
If you’re looking for a reliable and affordable commercial pavers factoring solution, there is NeeBo Capital, a Boca Raton, Florida based company that services clients around the world. They offer a wide array of factoring services, and their rates are only 0.59% to 1.5% for 30 days with flexible terms.
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