Can Factoring Invoices fix my business?
This question is commonly asked when small business is inquiring about funding of invoices. Often business owners are stretched and cash flow is poor. They have used up their money assets as banks have a secure hold on them.
Therefore the simple answer is no. I believe that taking factoring products to pay behind debt is not going to work. Unless you have a clear plan going forward. Outstanding tax, Creditors giving you the squeeze, or just simply inundated with orders. Debtor Finance is a product that is charged off your bottom line. If your budget is already stretched, chances are this product will slowly finish your business off.
However its not all doom and gloom for Factoring inquiries. Over 14 years we have seen some awesome recoveries from Business owners using these Invoice Discounting products. Yes it may take a few months to get back on terms with those business issues, but once on track, you can start using factoring to really turn your business around. Much like a credit card, with discipline, it can become a very powerful tool.
Invoice Discounting, , lenders are perfect for new business start ups, small to medium businesses going through grow spurts, and businesses that are just going through a rough patch. At Trade Debtor Finance Consultants we take the time to go through all the scenarios on offer. We try to help you make a plan, understand the lenders product and rates.
If you would like to know more about our Factoring lenders we support, please call us today 07 5547 8731.