NR Business Credit – Factoring Companies
NR Factoring has a specific goal, helping businesses manage and solve their cash flow problems. With one simple focus in mind, we strive to provide a reliable factoring service to businesses of all sizes. Our team comes highly recommended and well known for our ability to bring financial expertise to guide your business through any and all cash flow problems you may encounter. Our company is committed to our clients and their needs. We understand the importance of a quick, hassle free and professional financing experience. With long standing experience, our invoice factoring company staff is focused on building and maintaining relationships with our clients. We are very confident that we can provide you with the best service across all invoice factoring companies.
NR Business Credit Office Location
800 Parker Square, Suite 260
Flower Mound, TX 75028
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Sales: (888) 841-3956
Invoice Factoring Company
Invoice Factoring Basics
The basic idea behind invoice factoring is fairly simple. Your business creates invoices once a sale is agreed upon by you and your customer. Your customer signs the invoice and agrees to pay it once it has been fulfilled. In many cases, you deliver the goods or the service, but the customer takes a while to pay. In some industries, it might be somewhere between 30 and 90 days before the customer pays you what they owe. In the meantime, you’ve still got bills coming in that have to be paid.
With a factoring arrangement, a factoring company pays you for one of your invoices. The amount that the factoring company pays is less than the value of the invoice. Then when the customer pays the bill, the factoring company keeps the money and makes a small profit for lending the money to the business initially.
One of the major advantages of using this type of arrangement for your business is that it helps you get paid sooner. With a factoring company, you can essentially get paid right after you close a deal with your customer. Once you submit the application to the factoring company, you can get your money pretty fast. This enables you to pay your bills and not have to worry about when your customers are going to pay their bills. You are no longer at the mercy of the whims of your customers, and you can proactively plan out your finances a little bit easier.
Another advantage of this type of arrangement is that you don’t have to have perfect credit to get the advance. It’s not a typical lending arrangement in which the factoring company looks at your credit and your ability to pay it back. The credit in question in this arrangement is that of the customer. If the customer is credit worthy, then you’ll usually be able to get approved for the cash advance.
If your business could use a little boost in the cash flow department, you should consider looking into invoice factoring. You’ll be able to take your business to a whole new level and you won’t have to worry about making ends meet any longer. If you’ve got a winning recipe for getting customers and sales, there’s no need to have financial problems. Check out a quality factoring company and get things headed in the right direction again.