strategies for working capital funding

How Invoice Factoring is Quick and Smart for Your Business:

Invoice factoring is a fast method of financing for small business owners. Not all fast business funding options are good options. Often they can be expensive, have poor repayment terms, or provide insufficient funding for your needs. Invoice factoring is unique in that it offers growth potential to your facility without any need to reapply. Additionally, factoring companies like Eagle Business Credit provide back-office support to your business at no additional cost. When your business succeeds, so does the factoring company.

How does factoring work?

Invoice factoring involves selling your open invoices to a factoring company for immediate payment. Eliminating the 30 to 60 day waiting period for customer payment on your open invoices benefits your company. During this time, you are able to improve your cash flow to expand in new markets, hire more employees, and accept larger contracts.

invoice factoring timeline

Here is how Eagle makes invoice factoring fast for your business:

  1. Make a sale
  2. Send invoice to Eagle for same-day payment
  3. Repeat

Additional services included for free along with your business funding include receivables management, customer credit monitoring, and an online portal available 24/7 for account access. Invoice factoring services are a quick and painless way to grow your business by outsourcing cash flow problems to a factoring company in Norcross, GA.

collecting from client

Invoice factoring benefits compare to other fast funding options:

Other fast business funding options can get your business quick money, but it may come at a cost. Online loans are a popular financing option, but when an algorithm determines the worth of your business, you may miss out on the additional funding that human analysts can offer. Merchant cash advances are quick, and sometimes they can be a good choice for your business. Unfortunately, it is easy to default on the repayment structure because while you have a lump sum of money at the start of the term, your daily cash flow will be weakened with constant repayments.

fast business funding

Quick financing through invoice factoring:

The benefit of invoice factoring as a fast business funding option is the growth potential. There is no hard credit pull required, the strength of your business and funding amount is determined on the volume of your sales and the strength of your customers’ credit. As your sales increase, you can expect your overhead, supply costs, and financing needs to increase accordingly. The beauty of an invoice factoring facility is that your available business funding grows along with your funding need. More invoices and larger invoice amounts generate more financing for your business through factoring.

Invoice factoring company in Norcross GA

If you are a small business owner looking for invoice factoring in Norcross, Georgia or across the United States, Eagle Business Credit offers factoring facilities to help your business grow! To see more about how your Norcross business can grow with invoice factoring, visit our article on pushing past growth plateaus!

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