|
We are a nationwide receivables factoring company offering Our customers tell us that our combination Up to 97% "In all my
years of finance experience I have found you as being the best source,
your personal touch and commitment to us has made our relationship a great
blend of business and friendship."
|
Additional Staffing Factoring Company Information Staffing Factoring
has been around for thousands of years. Factors are investors who pay cash for
the right to receive the future payments on your invoices. An
unpaid receivable or invoice has value. It is a debt your customer has agreed
to pay in the near future. Factoring
Principals Although
staffing factoring deals exclusively with business-to-business transactions, a large
percentage of the retail business uses a factoring principal. MasterCard, Visa,
and American Express all use a form of factoring in their retail transactions.
Using the purest definition of the word, these large consumer finance companies
are really just large factors of consumer paper. Think
about it: You make a purchase at Sears and charge it to your MasterCard. The
store gets paid almost immediately, even though you do not make payment until
you are ready. For this service, the credit card company charges Sears a fee
(typical fees range from two to four percent of the sale). The
Benefits Factoring
can offer many benefits to cash-hungry companies. Rather than wait 30, 60, 90
days or longer for payment on a product or service that has already been
delivered, a business can factor (sell) its receivables for cash at a small
discount off the amount of the invoice. Payroll,
marketing efforts, and working capital are just a few of the business needs
that can be met with this instant cash. Staffing Factoring
provides the means for a manufacturer to replenish inventory and make more
products to sell: There is no longer a need to wait for earlier sales to be
paid. Factoring is not just a cash management tool for manufacturers: Almost
any type of business can benefit from factoring. Generally,
a business that extends credit will have 10 to 20 percent of its annual sales
tied up in accounts receivable at any given time. Think for a moment about how
much money is tied up in 60 days’ worth of invoices: You cannot pay the power
bill or this week's payroll with a customer's invoice, but you can sell that
invoice for the cash to meet those obligations. Staffing Factoring
is a fast and easy process. The factor buys the invoice at a discount, usually
a few percentage points less than the face value of the invoice.
|
|||