27 June How Commercial Cleaning Services Can Benefit from Invoice Factoring?
We understand the cash flow pressures of janitorial and commercial cleaning companies. Workman’s comp issues, payroll cash flow issues and more. Factoring companies can advance up to 90% of your invoice amount. Why wait 30-90 days for payment of an invoice? Why tie up your working capital while waiting receive the payment? Factoring programs enable you to have the money to meet payroll, grow your janitorial services company, and pay suppliers in a very timely manner. Factors have been helping janitorial service companies for decades get the financing they need. When the traditional banks say no, factors will say YES. Your janitorial services company can get a steady stream of cash through our invoice factoring, purchase order financing and accounts receivable funding programs.
Getting bank loans poses a series of protocols that can be daunting. From requesting for collateral like houses and equipment to checking if your business scale qualifies for a loan, invoice factoring cuts out the red tape and grants you the loan your business needs without fear of compounding extra debts or hidden fees. Your business operates best when there is enough revenue. Invoice factoring ensures you have just enough to keep business running even while customers are yet to pay.
Commercial cleaning agencies need to gain a broader client base by reaching out to more customers using marketing. When such a business experiences inadequate funding due to poor return of revenue, it keeps the business far behind the competition, thereby stunting its growth and outreach. But when you have your invoices financed, you get the capital you need to tap into more considerable potentials. That is why you need to subscribe to an invoice finance facility now.
Consequently, this eases the clients of the stress or tension that follows paying up. And your relationship with clients is further strengthened. Some quick advantages:
- Get Working Capital NOW
- Help With Workmans Comp Issues
- Resolve Payroll Issues
- Client Credit Services
- Accounts Receivable Management
- Receivable Financing
QUICK STEPS TO INVOICE FACTORING
Now that you are aware of the benefits of invoice factoring, it is essential to know the vital steps to invoice factoring for your commercial clean company. There are four necessary steps. They are outlined as follow:
- You provide services to your customers: You must perform your regular services as you are restricted from providing service by invoice factoring
- You charge your customer with your regular invoice. But payment is to be made to the invoice factorings provider.
- You sell your invoices to invoice factoring provider, who advances 90% payment to your staffing company within an agreed time.
- You receive the remaining amount: when your customer pays for the invoice to your invoice factoring provider, you can receive the remaining 10% of the sum payable.
In a nutshell, invoice financing facilities offer an immediate response in granting loans, give stress-free procedure for acquiring such loans, and prove to be better than traditional finance methods. Qualification for such loans has never been faster and easier. This is so because invoice factoring companies ensure that your company deals with clients who are capable of paying back as at when due. If you are a small or medium business owner, invoice factoring grants your business an opportunity for fast and steady growth due to the proper influx of cash. Get your commercial cleaning company “waxing” stronger by simply applying for invoice factoring.
The ultimate goal of invoice factoring is to increase your available funds. Factoring will enable you to go after bigger clients and larger contracts. Often, you will find that it takes the big guys longer to pay. This can lead to difficulties in filling larger orders and performing larger jobs. Helping you to grow your business is the purpose of Ready Commercial’s factoring service. Increased cash flow can enable you to pay your suppliers and ask for trade discounts quickly. Often, as little as a 2% quick pay discount can cover some, if not all, of your factoring costs.