Common Invoice Factoring Problems

There are a few common factoring problems that we come across, and we’re here to show you how factoring with Eagle Business Credit can help you solve those problems. One of the common problems is your customer’s creditworthiness. You don’t want to work for people who won’t pay you, correct? So what we do is we check out your customer to make sure that you’re doing work for someone who will pay. And that’s complimentary as part of your factoring facility here.

Another common problem that we come across in factoring is verifying your invoices. We verify invoices to make sure that there’s no problems and that you’ve completed the services or delivered the product that you’ve promised. And that way, if there are any issues, you’ll know about them ahead of time, instead of waiting for an invoice to get paid and finding out about them later. Another great thing about factoring is that we make sure your orders are complete. We don’t factor incomplete orders. We want to make sure that you’re billing for work that you’ve done completely and that you will get paid for.

The other great thing about factoring is we don’t base our decisions on your record-keeping. In fact, we don’t look at your financials as our first line of making decisions about your business. We can actually manage your receivables, help free up your time to get new business, and help your record-keeping become stronger by factoring with us. Something else that you should pay attention to when you’re looking at different factors, and one of the problems you may come across, is that they give you a contract with things in it that haven’t been previously discussed. That can be a red flag. Make sure that the contract shows all the things that you’ve discussed, and make sure you read it carefully. Here at Eagle, we are very clear. We list any fees that are spoken about, and our contract is very easy to understand.

Keep in mind that not everything with lending can grow like factoring can. One of the greatest things about factoring is that our facility grows with you. You’ll never run out of money. We can offer facilities from startups to several million dollars. So, keep in mind that what most people think may be a problem with factoring, is actually a way to solve your problems.

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