New to Factoring?

For those who aren't familiar with factoring, it is basically a fast way to get cash to run your business.

Factoring is Not a Loan

When you send your customers an invoice, they usually have 30 days to pay you back. Factoring companies will give you the bulk of the cash up front, sometimes within 24 hours, and collect the payments from your customers themselves. Once the invoices are paid in full, you’ll get the balance left over, minus a small fee.


Factoring Doesn't Require Debt

Sounds simple enough – fast cash for your business – no loans, no debt.

So how do you go about choosing the best factoring company?

Not all of them are created equal. Not all of them will give you the same level of service you need to help grow your business.

Everyone claims they have the simplest rate structure in the industry, no long-term contracts, same day funding, no up-front fees, no monthly minimums or maximums, etc., etc., etc.

We also offer these same benefits, but we GO THE EXTRA MILE FOR YOU that other factoring companies don’t.

Here’s Why We Are The Factoring Company You Need For Your Business

No other factoring company matches our level of superior service and offerings.


As you can see, we simply have more to offer you.

Other factoring companies don’t even compare.
Scottsdale

And Not All Factoring Companies Can Say This:

More than half of our new business comes through client referrals.

So, Can Your Company Use Factoring?

Of Course! Companies of all sizes, from small privately-owned companies to large multi-national corporations, use factoring as a way to increase their cash flow. Factoring spans all industries, including trucking, transportation, manufacturing and distribution, textiles, oil and gas, staffing agencies and more.

Companies use the cash generated from factoring to pay for inventory, buy new equipment, add employees, expand operations—basically any expenses related to their business. Factoring allows a company to make quicker decisions and expand at a faster pace.

Unlike a bank loan, factoring has…

  • No principle or interest to pay over time
  • No debt to repay
  • Unlimited funding potential – no caps
  • Fast funding – no waiting months like at a bank
  • Approval is based on the strength of your clients, not your credit
  • Startups are welcome in using funding services

Some of the benefits you receive with factoring are:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Information for the city of Scottsdale

"

Scottsdale is a city in the eastern part of Maricopa County, Arizona, adjacent to the Greater Phoenix Area. According to the U.S. Census Bureau, as of 2010 the population of the city was 217,385. The 2013 population is estimated to be of about 226,918 people living within the city, The New York Times described downtown Scottsdale as ""a desert version of Miami's South Beach"" and as having ""plenty of late night partying and a buzzing hotel scene"". Its slogan is ""The West's Most Western Town"".Scottsdale, 31 miles long and 11.4 miles wide at its widest point, shares boundaries with many other municipalities and entities. On the west, Scottsdale is bordered by Phoenix, Paradise Valley, and unincorporated Maricopa County land. Carefree is also located along the eastern boundary, as well as sharing Scottsdale's northern boundary with the Tonto National Forest. To the south Scottsdale is bordered by Tempe. The southern boundary is also occupied by the Salt River Pima Maricopa Indian Community, which also extends along the Eastern boundary, which also borders Fountain Hills, the McDowell Mountain Regional Park and more unincorporated Maricopa County land. The tourism industry is Scottsdale's primary employer, accounting for 39% of the city's workforce.

 

In 2005, Scottsdale attracted over 7.5 million visitors to the city, providing an economic impact of over $3.1 billion. The city of Scottsdale by itself is home to more than 70 resorts and hotels, boasting over 15,000 hotel rooms. This large hospitality market primarily caters to a higher end, white collar demographic.The city of Scottsdale is third, after New York City and Las Vegas respectively, as having the most AAA Five Diamond hotels and resorts in the United States.[] In 2008, AAA bestowed five such properties in Scottsdale with the highest honor: The Phoenician, The Canyon Suites, Scottsdale Camelback Inn, Four Seasons Resort Scottsdale at Troon North, and the Fairmont Princess Resort and Spa.Scottsdale boasts the highest number of destination spas per capita of any city in the United States.The region's year round warm weather and abundant sunshine is a major factor in Scottsdale's tourism appeal. In particular, during the winter, thousands of wealthy tourists from the midwest, the northeast, and as far away as Canada, flood the area with long term visits (known locally as ""snowbirds""). These tourists, who often practice the same migration routine annually, often end up purchasing second homes in the area.Over the past several years however, Scottsdale's growing abundance of trendy, high end nightlife, cale restaurants, art galleries and luxury shopping, has made it a highly popular travel destination for the younger, white collar, more style conscious, travel set.The famed Mayo Clinic has one of its three major branches in Scottsdale.

 

This and its resulting effects have made Scottsdale a strong destination nationally for medical care.The aviation industry has also grown in Scottsdale, with the construction of Scottsdale Airport in North Scottsdale, in the 1960s. Today, it is one the busiest single runway airports in the United States in terms of aircraft operations. Though there is little to no commercial air service, nearly all operations are corporate or general aviation.The immediate area surrounding the Scottsdale Airport, known locally as the Airpark, has developed rapidly as a regional center of commerce. By 2004, the Airpark had grown to become the second largest employment center in the Phoenix Metropolitan Area, with over 50,000 people being employed within a few mile radius of the airport itself notably in financial, retail, service, technological, design and manufacturing fields.

 

The Airpark houses more nearly 2,500 individual businesses, with a combined economic impact of over $3 billion annually, and growing.The largest employment center in the Phoenix Metropolitan Area is the combined central areas of Midtown and Downtown Phoenix, with an estimated 65,000 employees. Considering the many large, yet to be developed parcels and opportunities for growth in and around the still highly desired Airpark area in North Scottsdale, it is expected to overtake the central Phoenix markets in the near future, becoming the single largest center of employment in the Phoenix Metropolitan Area.Among the companies headquartered in Scottsdale

 

"

 

Information for the state of Arizona

"The 2011 total gross state product was $259 billion. This figure gives Arizona a larger economy than such countries as Ireland, Finland, and New Zealand. The composition of the state's economy is moderately diverse; although health care, transportation and the government remain the largest sectors. The hub of economic output remains in the Phoenix metropolitan area accounting for approximately 74% of the states domestic product. The per capita income is $40,828, ranking 39th in the U.S. The state had a median household income of US$50,448, making it 22nd in the country and just below the U.S. national median.

 

Early in its history, the economy of Arizona relied on the ""five C's"": copper (see Copper mining in Arizona), cotton, cattle, citrus, and climate (tourism). At one point, Arizona was the largest producer of cotton in the country. Copper is still extensively mined from many expansive open-pit and underground mines, accounting for two-thirds output of the nation. Nearly 70 percent of the land in Arizona is owned by the U.S. government, which leases a portion of the public domain to ranchers or miners."

 

You have things to do and sometimes it just does not make sense to put them off until you get paid  

It is important that you understand the difference between recourse and non recourse factoring prior to choosing your factoring company, -Scottsdale Factoring Companies

 

 

GET RID OF CASH FLOW WORRIES FOR GOOD  

Scottsdale Factoring Companies Articles

The Difference between Accounts Receivable Financing and Factoring

 

Today, it’s not as easy for businesses to access finance as it was in past years, and more companies are being forced to look for alternative, non banking financing options in order to access the capital they require to help their business grow.

 

Two of the more popular tools available to cash strapped business owners are Accounts Receivable Financing (A/R Financing) and factoring. Some business owners believe these two are the same, but there are, in fact, some small yet significant differences.

 

What Is Factoring?

 

Factoring is when a commercial finance company, also known as a factor or factoring company, purchases a business’s outstanding accounts receivable. At that time, the factor will typically advance the business somewhere between 70% and 90% of the invoice’s value. Then, once the invoice is collected from the customer, the remaining balance – minus a factoring fee – is released to the business. The factoring fee could range from between 1.5% and 5.5%. It’s calculated on the total face value of the invoice and depends on how many days the funds are in use and other aspects, like the collection risk.

 

When a business has a factoring contract they can usually choose which invoices they want to sell to the factor: it’s not generally an all or nothing process. Once the factor has purchased an invoice they become responsible for managing the receivable until the account has been paid. Essentially, the factor becomes the business’s accounts receivable department and credit manager, analyzing credit reports, performing credit checks, mailing invoices, and documenting payments.

 

What Is Accounts Receivable Financing?

 

Accounts Receivable Financing is more similar to a traditional bank loan, however there are some key differences. Bank loans are secured with collateral; which might be real estate, the business owner’s personal assets, or plant and equipment; whereas Accounts Receivable Financing is backed by the business’s assets related to the Accounts Receivable. When a business has an Accounts Receivable financing agreement, a borrowing base is established at each draw against which the business is able to borrow money: this would typically be between 70% and 90% of the qualified receivables.

 

Between 1% and 2% is typically charged as a collateral management fee against the outstanding amount, and interest is only calculated as and when the money is advanced. An invoice must be less than 90 days old in order to count towards the borrowing base, and the finance company must deem the business credit worthy. There may also be other conditions to fulfil.

 

So, you can see that there are many similarities between Accounts Receivable financing and factoring; however, one is the sale of an asset (receivables or invoices) to a third party, while the other is actually a loan. In many ways, though, they do act similarly. Below we’ve listed the main features of each so you can determine which would be the best fit for your company.

 

Accounts Receivable Financing

 

• Generally, Accounts Receivable Financing is not as expensive as factoring;
• It can be easier to move from this type of financing to a traditional bank line of credit once a business becomes bankable again;
• Typically, a minimum of $75,000 per month is required in sales to qualify, so this type of financing may not be available to small companies;
• Due to the fact that the business will be required to submit all of its Accounts Receivable to the finance company, this type of financing can be less flexible than factoring.

 

Factoring

 

• It’s quite easy to qualify for factoring, and factoring is the ideal solution for start ups and financially challenged companies;
• Because businesses can decide which invoices they want to sell to the factor, factoring offers more flexibility than Accounts Receivable Financing;
• The company is able to track total costs on an invoice by invoice basis because factoring has a simple and straightforward fee structure.

 

In Conclusion

 

Today we see both Accounts Receivable Financing and factoring as traditional sources of financing; effective when traditional bank financing is not an option. Factoring can carry a business through a period when an immediate cash input is required.

 

Somewhere between 12 and 24 months most companies are generally able to repair their financial situation and once again become bankable. However, some companies in certain industries continue factoring their invoices indefinitely.An example of this is the trucking industry, which relies heavily on factoring for cash flow injections.

 

 

 

You have things to do and sometimes it just does not make sense to put them off until you get paid

 

 

Scottsdale Factoring Companies Articles

"

Factoring

 

Invoice factoring
trucking factoring companies
factoring companiesp> 

As the owner of your own business, you may be more than aware already of the difficulty in making sure that cash flow issues do not become a problem down the line. After all, the worst thing that can possibly happen for your business is to find yourself embroiled in a long and difficult situation that leaves you forever trying to find two pennies to rub together.

 

For any business in this situation, the problem can come for waiting for work to clear up and actually be paid into your account. Invoices, cheques and the like can take some time to actually processed which can leave you with short-term cash flow issues. Thankfully, there are options out there for businesses to look into – and one of these is factoring companies.

 

Factoring companies will, in exchange for your invoices, provide you with the cash today so that you don’t need to worry about the waiting period that could make paying the bills and getting materials more difficult. With this type of setup, invoice factoring can become incredibly useful for many businesses who need to get out of a cash trap which they have found themselves in.

 

Because, depending on the size of the job, it can take up to 60 days for some businesses to get paid then it’s important to cover your own back and not leave yourself short in that day. after all, how many businesses have two months revenue just lying there to cover all the losses until they get paid?

 

This is especially true of trucking companies. They tend to deal with lots of invoices which means a significant amount of running around and donkey work for the business owner themselves. Trying to get paid in time can become an incredible hassle and this is why you get specific trucking factoring companies who are happy to help out truckers specifically.

 

As we all know, trucking is an incredibly large industry with many companies out there employing hundreds of drivers. Unfortunately, many of these drivers can spend night in the cold or hungry as they are still waiting for work from six weeks ago to actually pay them. When this is the situation for a trucking company, turning to factoring companies for assistance might be the best choice left.

 

This means that a trucking company can pay the wages of the staff, keep all the vans topped up with fuel and continue to scale, grow and expand without always waiting for the never-never with money which is taking forever to arrive coming in. businesses running without a factoring model put in place are leaving themselves in significant risk, as competitors cash out fast and continue to expand.

 

There’s genuinely nothing to be worried about when it comes to using a Factoring company – they aren’t like a payday loan firm or somebody who is going to leave you with a huge pile of debt to apy back. Although you are technically borrowing a loan, so long as you only ever give them genuine invoices from work you have already finished you are merely speeding up the payment process.

 

In the United States, where trucking companies thrive, factoring companies are not considered borrowing in any capacity. This confidential agreement then allows both parties to profit and enjoy a comfortable future – it gives the factoring company a guaranteed asset of income to add to the list and it gives the trucking firm a wad of cash that they worked hard to earn.

 

The trucking company will usually need to pick up the invoice and cash it in still, and then make the payments back to the factoring company. Because it’s a confidential agreement, and it can look bad for a business to be involved in this type of short-term finance even though it’s perfectly legal and a very common practice, it’s usually in the hands of the company to get the money for the factor.

 

This is an extremely old business type and has been used for many years by many different types of work – but none more so than truckers. While you may miss out on a small part of the money , something like 15% depending on who you work with, it means that you are getting the money today and can actually start putting some food on the table.

 

After all, an IOU or an invoice is not going to be you fed and washed, is it? For trucking companies when the money can be good one day and gone the next, it’s up to the drivers to work sensibly and to ensure they are leaving themselves with a significant amount of time and finance to get through the week until they are paid again.

 

So the next time your trucking business is having some short-term cash flow issues and you are spending too much time chasing up slow paying clients, why not start considering to use factoring businesses as a way to change your motive and give yourself a more comfortable future in the eyes of your trucking staff and your bank balance?

 

 

"

 

 

Scottsdale Factoring Companies Articles

Why Do Companies Choose Factoring?

 

We know that factoring is the ideal way for a business to access instant cash on their company’s receivables, but there are other important benefits as well. Factoring can be a very handy financial instrument for many businesses.

 

Listed below Are Six Key Benefits of Factoring

 

No. 1: Back Office Solutions

 

Anyone running a business knows just how time consuming and expensiveit can be collecting payments from customers. When you employ a factoring company they’ll take over that role for you using their own collection specialists: it’s their job to follow up with customers until such time as your account has been paid in full. In addition, some factoring companies use online accounts, which means that you’ll have the ability to track your customers’ payments in real time.

 

Handing this time consuming part of your business over to the factoring company frees up your time to do what you do best – running your business, looking for new business opportunities, and providing your customers with excellent customer service.

 

No. 2: Better Quality Customers

 

Some factoring companies have their own rating systems for companies involved in your industry, in addition to having access to credit data on companies that could well become your new customers, and days pay information. Others create their own rating systems for companies working in your industry, which allows you to make calculated, informed decisions about both existing and new customers.

 

No. 3: Instant Access to Cash

 

When a company provides goods or services on credit it usually has to wait somewhere between 30 and 90 days for customers to pay on their invoice, and this very often leads to cash flow problems for the business. And that’s the beauty of factoring! When you use a factoring company you’ll typically receive an advance on an invoice within 24 hours. This immediate injection of cash allows businesses to purchase additional equipment, employ new staff, and cover other business expenses.

 

No. 4: Growing Your Business

 

Because factoring provides instant access to cash, it offers you the flexibility to grow your business at a faster pace. In addition, factoring is very simple to set up. A factoring account can be created within a matter of days, whereas a traditional bank loan can take weeks. And, there’s no limit to the amount of funding a factoring company can provide, unlike bank loans. Of course, this is assuming the factoring company you choose to work with has a strong capital structure. Over a period of time, the volume of factoring can increase within months – from thousands to millions of dollars.

 

No. 5: Funding for Start Ups

 

Start Ups quite often require financing to get their business up and running; but because they have no cash flow statements or balance sheets, and no business history, they’re highly unlikely to qualify for cash flow or asset based lending.

 

Factoring is not concerned about these requirements because it’s main interest is in the credit history of your customers. Before a factoring company offers you financial assistance it will examine your customers’ credit scores, their payment patterns, and general financial health. Typically, the factoring company will not be interested in how long your company has been operating.

 

No. 6: Factoring Is Not a Debt

 

Factoring does not become a debt to your business because it’s not a loan. Your business receives financial support from the factoring company as and when you accumulate invoices, and the matter is settled once your customers have paid in full. It’s true that if you’re utilizing recourse factoring, you, as the factoring client, assume the risk if your customers default on payment; however, factoring companies usually allow businesses to work off that amount by retaining a portion of reserve payments or future cash payments.

 

 

 

You Can Find More Information at  http://receivableloans.org/
and at Factoring Companies-businessfinancedirectory.org

Call Us Today at: 1-888-239-9162

 

Watch our Factoring Company Video below to see how we work for you.

 

 


 

Get MONEY NOW for your outstanding receivables.

 

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