You’ve worked hard to make that sale. You’ve delivered the goods. Congratulations. It took effort to nurture that relationship. Now you need to get paid as otherwise you’ll be in trouble. You have bills to pay, and people rely on you. So how do you make sure you don’t suffer a loss due to non-payment by your customers?
Managing your accounts receivable well is an art. It involves so much more than just creating and sending an invoice. Are you an expert accountant or a credit manager? How about a combination of both? No? Are you comfortable managing your accounts receivable or are you going a little cold trying to understand what this means? Eagle Business Credit is an invoice factoring company that specializes in financing receivables, so we need to know what it takes to get paid.
Invoice factoring uses accounts receivable to form the basis of what can be advanced. Factoring companies get paid back from the debtor, so they are experts at credit management and collecting payments. Even with a recourse factoring facility where the factor does not take the credit risk, they don’t want to fund against an invoice that might not pay as that’s not in anybody’s interest, so they undertake sense checks of the debtor’s ability to pay before making an advance. They will also check to make sure the goods have been received and the correct remittance details have been set up, and when the invoice falls due will make calls to enquire when the payment will be coming.
This service takes a huge burden off business owners, leaving them free to run and grow their company, instead of having to deal with bookkeeping and collections and you get it FREE as part of your invoice factoring services.
Outstanding receivables effect your business. Overdue accounts receivable has an even greater impact on working capital and could cause you big problems. Using an invoice factoring company like Eagle Business Credit not only brings predictability to your cash flow, but our team of experts help to evaluate the quality of your customers and undertake the collections work for you. Qualifying for one of our funding programs is easy too. If you sell to other businesses on credit terms, we’ll have a solution for you.
82% of businesses that failed, struggled with cash flow management?* Don’t put yourself in that position. Eagle Business Credit works to find the best fit for your company’s needs. Call us today and find out why our Clients love working with us.
* Per U.S Bank Survey