Factoring the Greatest Way to Grow a Company
When it comes to growth, many small businesses struggle. A lack of growth is often attributed to many causes, but the largest contributor is typically liquidity, not sales. For small businesses there are several options to generate short-term capital. The first is to secure traditional financing from their bank, and the second is to seek an investor(s). The third option, factoring, comes into play when the first two options are not a viable solution for a small business.
Factoring or Accounts Receivable financing, infuses the working capital into a business immediately. Relieving a business of the burden of waiting N30 – N90 on customer invoices for cash-flow. Our solutions provide a business with the ability to expand new customer orders, cover supply for seasonal business, add additional employees, and expand a production line worry-free. Along with the ability to infuse working capital into a small business swiftly, a factor will extend credit lines quicker than traditional financing, and will scale with you as you grow. Factoring provides limited financial covenants for small businesses allowing them to qualify for financing when they otherwise would not with a traditional lender.
Why Choose Seacoast Business Funding
The Seacoast Business Funding team has over 25 years of experience. We have a deep knowledge of many industries including staffing, manufacturing and all service related distribution. Seacoast Business Funding listens to our clients and understands the challenges that keep them up at night. We tailor each of our funding solutions specifically to meet you or your client’s business needs. In addition, to Factoring we offer Asset Based Lending facilities. As a client’s business needs evolve we can provide a seamless transition from one facility to the other.
Growing your small business should be the only challenge; access to short-term capital should not. Factoring provides the flexibility, scalability, and reliability for many small businesses to quickly generate growth. If your small business is looking to grow, contact us today to see how we can provide a solution to meet your business needs.