Boost Your Short-Term Cash Flow Through Factoring
At one time or another, many companies small or large find themselves with a cash shortage. This could be due to a lag between purchasing inventory and collecting on accounts, or it could be the result of a seasonal slump in sales. In either event, there are a few options at your disposal. For business owners looking for a short-term solution without acquiring debt, factoring is a great alternative to loans.
Factoring is also known as accounts receivable financing. In essence, your company can sell your invoices to a financing company and get an advance on the sum or the majority of the bills. Prime Commercial Lending can get the funds you need in as quickly as 24 hours.
One of the biggest reasons to take advantage of this type of financing is that it can help drive growth in your business. For example, if you are a supplier and you finally got the dream order you have been waiting for, you are probably ecstatic. However, a quick look at your budget tells you that you will completely deplete your cash reserves to fill the order. What do you do? Turn down the order? No. You factor. You could get up to 95 percent of the money from the order from Prime Commercial Lending, take on a new client, fill the order and build a new relationship that hopefully leads to future business.
What’s more, factoring does not simply have to be used to fill orders. There are companies that use the money to pay off debt or hire new employees. Perhaps there is a new kind of technology that would really benefit your business but you do not have the money right now to buy it. Through selling your invoices, you can get the cash up front for the things you need to help your business grow.
If you are considering this option, it is important that you find a trusted provider. Prime Commercial Lending is solely committed to helping companies with their financing needs. We have worked with all sizes and types of businesses.
If you are in need of a little cash to help your business grow, you should consider factoring with Prime. You can get the money you need without going into debt. Prime Commercial Lending can help you solve your cash flow issues, and you will be well on your way toward helping your business thrive.
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