Summary: A fuel advance is an add-on that many factoring companies offer alongside their freight bill factoring programs. Fuel advances provide funds to cover fuel and other expenses. Your company gets access to these funds when you pick up a load. Fuel advances are used by small and growing trucking companies that need funds to […]
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Purchase Order Financing Cost and Rates
Summary: Purchase order financing is commonly used by small companies that have won a large purchase order but don’t have the financial means to fulfill it. This article discusses the average PO financing rates and how transactions are structured. This information will help you determine if PO financing is the right solution for you. The […]
Eight Advantages of Asset-Based Loans (ABLs)
Asset-based loans (ABLs) are used by small and middle-market businesses to improve liquidity and finance new projects. They offer similar advantages to conventional solutions. However, they are more flexible and have simpler qualification requirements. This article discusses the eight important benefits of asset-based loans. To learn more about asset-based loans, read “What is Asset-Based Lending?“ […]
Are Factoring Rates That Important?
Most prospective clients consider the factoring rate the most important feature of a plan. In fact, pricing is usually the first question clients ask prospective finance companies. Seeking the best rate is a good strategy, but it should not be the only detail you look for. Other parts of a plan are just as important. […]
Selling Accounts Receivable to Finance Your Business
Companies experience cash flow problems at one point or another. These issues are common in small companies and in companies that are growing quickly. Cash flow problems can usually be fixed using the correct type of financing. However, getting a bank loan or a line of credit remains out of reach for many small and […]
Is Invoice Factoring Right for Your Business?
Invoice factoring is a business financing solution popular with small and midsize companies. This article helps you determine if factoring is the right solution for your business. We guide you through eight questions to ask before considering a factoring facility. 1. Can my cash flow problem be fixed using factoring? The first question to ask […]
Why Would a Company Sell Its Receivables?
Companies sell their receivables to improve their cash flow. Having good cash flow is essential if you want to run a successful business. You can have a great product/service and excellent profit margins, but your business will suffer if your cash flow is bad. As a matter of fact, profitable companies can also have serious […]
How Do PO Finance Companies Pay Suppliers?
Purchase order financing helps small companies with the supplier costs associated with a large order. It enables small business owners to fulfill large orders and book the revenue. This article discusses how purchase order finance companies pay your supplier expenses. We cover: For more information, read “What is Purchase Order Financing? How Does it Work?“ […]
Do You Qualify For Invoice Factoring?
Factoring plans can provide many of the benefits associated with a line of credit. However, they are much easier to qualify for than conventional financing. Most factoring companies have fairly simple requirements to qualify. The following is a list of the main requirements to qualify for invoice factoring. Note: To learn more about factoring, read […]
Why Must My Customer Send My Payments to the Factoring Company?
One of the chief objections that clients have with using factoring is that their customers need to remit payments to a new address. Actually, notifying the customer of the new payment address and procedure is a standard practice in the industry. Factors use a document commonly known as a notice of assignment. But why is […]