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 Fort Worth 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.
Fort Worth

And Not All Factoring Companies Can Say This:

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

Some of the benefits you receive with factoring are:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Information for the city of Fort Worth

Fort Worth, city (1990 pop. 447,619), seat of Tarrant co., N Tex., on the Trinity River 30 mi (48 km) W of Dallas; settled 1843, inc. 1873. An army post was established on the site in 1847, and after the Civil War became an Old West cow town. The first railroad (completed 1876) helped establish Fort Worth as a meatpacking and cattle shipping point, and it soon also became a center for milling and shipping wheat. In 1919 oil was discovered to the west, and refineries and related installations were built. Fort Worth, which in its rivalry with Dallas calls itself the city "where the West begins," has been financially revitalized since the construction of major industrial parks in the 1980s, and suburban expansion continues.

 

Oil and gas, cattle, and grain remain important, but newer industries, such as aerospace and electronic equipment manufacture, wholesaling and distribution, transportation, communications, and food processing, have led economic development. The airline industry is critical, with both the Dallas Fort Worth International Airport and Alliance cargo airport in or near the city;is based there.Fort Worth is the seat of Texas Christian Univ., Texas Wesleyan Univ., and a Baptist seminary. The Tarrant County Convention Center, Kimbell Art Museum, Amon Carter Museum, Modern Art Museum of Fort Worth, quadrennial Van Cliburn International Piano Competition, Texas Motor Speedway, Bass Performance Center (in Sundance Square), and the old stockyards are among its visitor attractions.

 

 

Information for the state of Texas

Mineral resources compete with industry for primary economic importance in Texas. The state is the leading U.S. producer of oil, natural gas, and natural-gas liquids, despite recent production declines. It is also a major producer of helium, salt, sulfur, sodium sulfate, clays, gypsum, cement, and talc. Texas manufactures an enormous variety of products, including chemicals and chemical products, petroleum, food and food products, transportation equipment, machinery, and primary and fabricated metals. The development and manufacture of electronic equipment, such as computers, has in recent decades become one of the state's leading industries; the area around Dallas and Fort Worth has become known as "Silicon Prairie," a name now also extended to Austin and its suburbs.

 

Agriculturally, Texas is one of the most important states in the country. It easily leads the nation in producing cattle, cotton, and cottonseed. Texas also has more farms, farmland, sheep, and lambs than any other state. Principal crops are cotton lint, grains, sorghum, vegetables, citrus and other fruits, and rice; the greatest farm income is derived from cattle, cotton, dairy products, and greenhouse products. Hogs, wool, and mohair are also significant. Among other important Texas crops are melons, wheat, pecans, oats, and celery. Texas also has an important commercial fishing industry. Principal catches are shrimp, oysters, and menhaden

 

If you need capital right now or are looking to expand then factoring is the way to go.  

Companies of all different sizes, including start ups, use factoring; and today factoring has become common business practice across many industries. -Fort Worth Factoring Companies

 

 

HOW TO GET CASH AND GROW YOUR COMPANY  

Fort Worth Factoring Companies Articles

The Best Kept Secret in Financial Services: Freight Bill Factoring!

 

If you're an existing owner of a trucking business, or perhaps you're planning on starting a trucking business, then you may be interested in Freight Bill Factoring. Freight Bill Factoring helps trucking businesses, both large and small, achieve their overall business goals; but before making any final decision you must fully understand how Factoring works.

 

Freight Bill Factoring has become very popular with trucking businesses and is often referred to as the financial backbone of the trucking business. If you're not familiar with Freight Bill Factoring, you may not know that factoring is a financing alternative for business owners: it gives them immediate access to additional financing capital they may otherwise not have access to. The process of Freight Bill Factoring is actually quite easy: it involves a factoring company purchasing bill of ladings at a discounted rate. This process is a win-win situation for both the trucking company who receives immediate funds and for the broker who pays for the invoices.

 

Freight Bill Factoring Is Not New!

 

Freight bill factoring is not a new idea; in fact, it has a long, rich tradition. Most civilizations that have engaged in commerce have also engaged in factoring in one form or another. For example, business relationships during the colonial period in North America were required to make cash payments in advance against Accounts Receivable in order for the business to continue with its commercial operations, prior to their users being paid for their goods. So, they were engaged in factoring!

 

Factoring Specialists Have Many Services to Offer

 

Of course, factoring has become a lot more sophisticated over the years, and today it's focused on financial management, credit worthiness, and on collections. However, the basic concept of purchasing Accounts Receivable has stayed the same. In addition, the modern factoring company of today can do a lot more than just funding: a factoring specialist can assist clients by evaluating and setting credit limits, verifying customer's credit worthiness, and professionally managing Accounts Receivable collections. Right across North America we see factoring companies existing in all forms and serving business sectors and industries of all types; and today, many large financial institutions even have their own factoring divisions. Generally, though, factoring companies are smaller, independently owned enterprises.

 

Banks Step Out as Factoring Steps In

 

Factoring has become very popular with trucking businesses because, as most business owners can verify, commercial lenders have become increasingly inflexible, with stricter regulations and ever-changing lending criteria. This inflexibility has forced both small and medium sized businesses to search for alternative financing sources, and this is where factoring has stepped in. Factoring is a simple, workable, solution-based process, providing an alternative for trucking businesses when traditional means of financing are not available. Factoring is proving to be a great financial remedy, particularly as banks and other lenders are becoming less friendly to small business owners.

 

Factoring Companies Operate Worldwide

 

The volume of factoring around the world has today exceeded the trillion-dollar mark! Factoring companies operate on every continent and, in the last four years, worldwide factoring transactions have increased by 60%. And that's why we say that Freight Bill Factoring is the best kept secret in financial services!

 

 

If you need capital right now or are looking to expand then factoring is the way to go.

 

 

Fort Worth Factoring Companies Articles

Bookkeeping for Freight Brokers and the Most Common Mistakes Businesses Make

 

A freight broker is either a company or an individual who effects the transportation of goods by pairing up shippers with transportation services. The freight broker is not only responsible for pairing reliable and authorized transportation carriers with shippers, but also organizing the shipping needs for various organizations. Besides matching shippers with carriers, a freight broker is also responsible for ensuring each and every piece of cargo reaches its destination - and in good condition.

 

In addition to these tasks, freight brokers are also responsible for maintaining accurate bookkeeping records, and those who fail to keep meticulous accounting records are likely to lose money in the long run. In this post we've detailed what we believe are the most common accounting mistakes freight brokers make, and ways in which they can be avoided.No. 1: Attempting to DIY Your Bookkeeping Can Result in Costly Errors

 

Whether you handle the books yourself or delegate this vitally important job to an unqualified employee or even a family member, DIY bookkeeping is seldom, if ever, a good idea. Yes, initially you'll undoubtedly save some money, but your inexperienced bookkeeper's errors can ultimately become very costly to your business and result in expensive financing terms, increased bond premiums, and other unnecessary costs.

 

We strongly suggest you employ the services of an experienced bookkeeper who's qualified to deliver accurate accounting records, which will ultimately result in fewer errors and the job being completed quickly and efficiently.

 

No. 2: Postponing Important Bookkeeping Tasks Due to Heavy Workloads

 

It's not easy running a business, and anyone who finds themselves in this situation understands only too well just how difficult it can be to find the time to complete day-to-day time-consuming tasks. It's imperative that things like reconciling credit card and bank statements be completed each month because it's only through these reconciliations that errors can be found; plus of course it's how you determine out how much credit or cash you actually have.

 

As tempting as it may be to postpone these tedious tasks, you must ensure that your credit card and bank statements are reconciled every month, ideally as soon as you receive each statement. Keeping on top of statements means you can quickly identify any lost checks, missing deposits, or fraudulent charges, and be able to handle any discrepancies in a timely manner.

 

No. 3: Failing to Track Receivables and Invoices

 

Your business depends on you getting paid, and you won't be paid if you're not regularly and properly accounting for receivables. The lifeblood of your business is cash, which means the success of your business is entirely dependent upon you accounting for receivables. To put it another way, if the period of time between paying your carriers and receiving payment from customers is unnecessarily delayed by poor accounting practices, your business cash flow is going to be very strained.

 

If you're time-poor and realize you simply don't have time to track and collect invoices, then invoice factoring is the perfect solution for you. For just a small fee your applicable invoices will be purchased by the invoice factoring company, but the best part about invoice factoring is that you receive immediate payment! No longer will you have the time-consuming responsibility of trying to collect payments, thus saving an enormous amount of office time: plus, it leaves you free to take care of your own job, which is handling the day-to-day running of your business.

 

No. 4: Overlooking Liabilities Can Have Disastrous Results

 

When a surety inspects your business records to underwrite a bond, one of their first and most important considerations is whether your assets are sufficient to cover your liabilities. It's difficult for inexperienced bookkeepers to understand the full implications of accurate record keeping and sometimes DIY accountants record a liability but once the payment is made they forget to reverse the liability. This is a serious error because it understates net income while overstating liabilities, which makes your business appear less financially stable than it actually is.

 

The only way to avoid these unnecessary accounting errors is to hire an experienced bookkeeper. It's always handy to have another set of eyes, whether it be a CPA or an owner, to regularly review the balance sheet and check for discrepancies in account balances.

 

No. 5: Miscategorizing or Creating Unnecessary Expense Categories

 

All too often we see inexperienced bookkeepers either creating unnecessary expense categories or wrongly categorizing expenditures, either of which can be a huge red flag. Generally, each industry uses a standard set of categories for expenses and failing to follow this set of rules can signal to a surety or loan underwriter that an inexperienced person is handling your books; meaning that they may not be well prepared.

 

It's really important that your business's accounting software is correctly set up, preferably with the help of an accountant or experienced bookkeeper. Additional expense categories should not be added unless absolutely necessary. If you have any queries about how to classify expenses, don't hesitate to ask for guidance from your qualified accountant or CPA.

 

No. 6: Submitting Invoices with Insufficient Details

 

Don't try to save time by skimping on invoice details. Your customers' invoices should have detailed information on each line item; for example, do you invoice per mile, by weight, or by piece? Is the charge a flat fee? If there are additional charges such as fees or reimbursements for fuel, these should be listed as separate line items. The only way to avoid any confusion is to ensure that charges are properly detailed on invoices.

 

The last thing you want is for your customers to complain about charges they don't recognize on their invoices; and missing information can cause much confusion, resulting in delays in payment. All of these problems can be prevented by ensuring that your invoices have complete, detailed, and accurate information. Don't create unnecessary problems by trying to skimp on invoice details.

 

No. 7: Not Learning or Understanding the Full Functionality of Your Accounting Software

 

Getting a business up and running can be very expensive and time-consuming, and many freight brokers simply don't have time to learn how to use their accounting software package to its full capacity. This is not a problem if all your accounting and bookkeeping tasks are being outsourced; however, if you're using the software in any way at all, perhaps even just for entering checks and running reports, we strongly recommend that you learn how to use all functions of your accounting software package.

 

You can save so much time and have easy access to real-time information on the financial status of your business if you have the right accounting software and you know how to use it correctly. Having this information at your fingertips can help you make the right decisions to grow your business.

 

 

 

 

 

 

Fort Worth Factoring Companies Articles

How Medical Staffing Helps The Medical Industry

 

Mary Henderson sat in her office, waiting for the phone to ring. Her job was a busy one, and she had stopped all her calls and shut her door five minutes before the phone conference was set to begin just to get some time for herself. The truth was she was stressed to her breaking point. Her company Med Staff needed to hire three new people to cover the demand of their clients. The problem was, they couldn't. They were short on funds.

 

Med Staff did temporary medical staffing. They employed LPN's, RN's, and a few others of the same ilk. Companies that needed nursing for a short amount of time paid Med Staff, and the nurses were sent over on short term contracts. Then they came back, and they were sent somewhere else.

 

A retirement home had contacted Mary two weeks ago, they were undergoing an expansion, and they would need temporary staffing until they could appoint permanent nurses to the shifts. Mary had known she didn't have enough people for this, but she took the contract on anyways, figuring she could hire people. There were always a number of nurses and technicians applying for work at Med Staff, and she knew it wouldn't be a problem to hire a few new people.

 

There had been a problem though. There simply wasn't enough money in the books to do it. The company was doing fine, but a quick expansion, even as small as three people, simply wasn't going to happen, not without help.

 

She had gone to the bank for a loan, but they had denied her. It seemed to Mary that the only people who could get loan money from a bank were the people who didn't need to do so. And then she had found something different, a website online about factoring. She had looked the site over, and set up the conference call.

 

The phone rang, she picked it up. "Hello?"

 

"Hi, is this Mrs. Henderson?" a cheery woman's voice asked over the phone."

 

"It is."

 

"Great! My name is Stacy, I'm going to help you today."

 

"Okay great." Mary said.

 

"I'm looking over the form you filled out, it looks like your company temporarily staffs medical professionals?"

 

"Yes," Mary said. "Nurses mostly."

 

"Great," Stacy said. "And if you called me, it means you ran into a snag."

 

"I took a contract to fill five places in an expanding retirement community. I have two people available but needed to hire three more. Unfortunately, we just don't have that kind of money in the books right now. We have a few outstanding invoices yet to be paid, but until they come in, there's nothing I can do."

 

"Do you know how factoring works?" Stacy asked.

 

"Not really," Mary admitted.

 

"Okay, well we don't look at your business credit, we look at your clients' credit. We know they have some time to pay bills, and we're interested to see if they can pay those bills. If they can, we become interested in helping you out, because we think all businesses should have a fair shot to make it, and sometimes things just don't work out."

 

"This is the first time it hasn't worked out," Mary said. "And it's hard."

 

"I know. I hear about it every day. The cool thing about my job is I get to help fix it. So what we do, if we feel secure in our ability to help you, is we buy a piece of your accounts receivable. We aren't just loaning you money, we're basically becoming active in your business. That is you get the money you need right now, but we have an assurance that we get our money back, later down the road."

 

Mary nodded behind her desk, even though the other woman couldn't see her. She had never heard of factoring before she came across the site on the internet, but the way Stacy explained it certainly made sense.

 

The call continued, with Mary giving the information that Stacy would need. She promised to get back to her within a couple of days, and then they hung up. Mary went on with her work, and a day and a half passed.

 

Mary was at her desk when he phone rang then. It was Stacy.

 

"Good news," she said as soon as Mary said hello. Mary couldn't help but smile as Stacy went on. "We're going to be able to help you out."

 

"You don't know how great it is to hear you say that," Mary said.

 

"Believe me, I do," Stacy said. "I get to say it more often than not, and I know that we're really helping good people, and good businesses."

 

"The bank, they couldn't do anything," Mary said, she felt salty tears stinging her eyes as they welled there.

 

"They aren't built to help people like we are. They just want as much money as they can get. We want money too, because it's a business, but if you don't succeed, we don't succeed, and it's also important to us that we help people."

 

"So what's next?" Mary asked.

 

"Well the real answer is I fax some stuff over for you to fill out and sign, but the fun answer is your business gets the help it needs, and you keep going to work each day. Well, not the weekends."

 

Mary couldn't help but laugh. "Believe me," she said. "I work plenty of weekends."

 

Stacy laughed as well, and then got the fax number she would need. Once again the women hung up and Mary let out a long breath as she sat back in her chair. She used a tissue to dab the tears from her eyes. She knew everything was going to be okay.

 

 

 

 

 

Fort Worth Factoring Companies Articles

Factoring Companies - Benefits

 

Factoring companies offer a wide variety of benefits to businesses. Factoring companies conduct financial business by allowing a business to sell its invoices to a factor (also known as a third party business or individual.) The price that the business charges is discounted in order to sell the invoices that are currently held, and make the cash that is immediately needed for any type of expenditures involving the business. A business that has immediate cash needs, but has no cash to pay for the expenditures that has occurred often ends up going under and eventually shutting down completely. This takes a lot of jobs away from people, and can leave you working for someone else, no longer running for your business. No one wants to take this large step down from the current place that they are in. A business owner has worked incredibly hard to get to where he or she currently is, and does not deserve to have their business become obsolete. This is where the factoring companies can be a huge help to businesses.

 

Invoice FactoringKeep in mind that factoring companies do not use the same process as invoice discounting. Instead, invoice factoring (also called the "Assignment of Accounts Receivable" by the FASB and GAAP) is the sale of invoices, instead of invoice discounting which involves collateral in order to ensure that the individual who took out the invoice discounting loan will pay it back. Factoring is not a loan; instead, factoring is the sale of invoices in order to get immediate cash. There is no loan in the process of factoring, and you will never have to pay the money back.

 

Since the invoices that are sold are also called receivables, the entire process of factoring is usually called the sale of receivables. Receivable factoring is much better than trying to take a loan out from the bank. Banks charge interest on any type of loan, and although there is usually collateral, it can put you in even more debt than you currently are. In addition, factoring companies are never going to give you a loan. When a factoring company funds your discounted receivable, he or she will choose to buy the receivable, giving you cash immediately. This cash can pull your entire business out of the hole that it is currently in. Instead of taking a loan out and getting yourself further into debt, factoring allows you to simply sell your own invoices and get back most of the money that you originally put into them. Although this may seem like a bad process since you are selling valuable invoices, it is important to do, as the invoices are completely useless if your entire business goes under. Instead of trying to take a loan out to keep all of your receivables (invoices) factoring companies benefit you directly by giving you the cash you need.

 

Benefits of Factoring Companies / Invoice Factoring / Receivable FactoringWhen you are in a bind and really need money in order to get through the next few months, it can be very troublesome. Although the first thought in most peoples' minds would be to visit the nearest bank as soon as possible and take out some kind of loan, this is very dangerous. Although the loan may hold your business over for the next few months, it is simply delaying the same money crunch you already had. Unless your business is making an incredible amount of money, the bank loan that you took out has increased in the price that you must pay bank. Interest on a bank loan is how the banks make money and survive. Many loans have a very high interest rate, and if you are unable to pay the loan back in a short amount of time, you are going to be in more of a money crunch than you originally were in. In order to pay back the loan, you would have to make a large amount of money in a very short time, which is unlikely if you needed to take out the loan in the first place.

 

Rather than bothering with bank loans that will inevitably put you back in the money hole that you were in when you took it out, factoring companies are available to help you. A factoring company is a place where businesses can place their invoices for sale at a discounted price, which will allow them to receive immediate cash. As aforementioned, this money does not need to be paid back, as it is not a loan. Keep in mind, you are not selling your business. You are selling invoices in order to keep your business growing. You will be able to get more invoices in the future when your business is back up and running, but if you do not sell these invoices, you will never be back up and running.

 

When you are in a money crunch, don't put yourself back in the money hole that you are in by taking out a bank loan. Utilize factoring companies in order to get immediate cash that will help you get back up and running without putting a loan on your business.

 

 

 

 

 

Fort Worth Factoring Companies Articles

Why Trucking Companies Use Factoring Companies.

 

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 the cash you need on an ongoing basis.

 

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, checks, and the like can take some time to actually to be 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 cash short to pay the bills. After all, how many businesses have two months revenue just lying there to cover all their expenses 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 collection time involves business owner themselves. Trying to get paid in time can become an incredible hassle and this is why you use 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 end up in money troubles because 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 trucks topped off with fuel and continue to scale, grow and expand without always waiting for the money which is taking too long to come in. Trucking Businesses running without a factoring program put in place are leaving themselves at 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 bank or somebody who is going to leave you with a huge pile of debt to pay back. You 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 the needed cash that they worked hard to earn.

 

The trucking company provides their invoices to the factoring company. The trucking factoring company then receive the payments from the trucking company's customers. Factoring has been around for hundreds of years and has been used for many years by many different industries - but none more so than truckers. While you may miss out on a small part of the money, something like 1-3% depending on who you work with, it means that you are getting the money today and can actually start putting the money to work.

 

After all, an IOU or an invoice is not going to pay for expenses, 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 slow paying clients, why not start considering using a factoring businesses as a way to get your money and give yourself a more comfortable future in the eyes of your trucking staff and your bank balance?

 

 

 

 

 

Fort Worth 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 easy 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.

 

 

 

 

 

Fort Worth Factoring Companies Articles

Invoice Factoring; The Best Way to Grow a Temp Staffing Agency

 

When temp agencies are struggling with cash flow problems they typically have two options; the first option is to apply for a business loan from a bank or other lender and hope they achieve a favorable result. Their second option is to use invoice factoring, so in this post we're going to discuss why invoice factoring could be their best choice.

 

Many businesses in many varied industries are discovering that invoice factoring is the ideal way of addressing cash flow issues, and this is also true for temp staffing agencies. In fact, it may be even more true for temp staffing agencies because these agencies don't receive payment from clients until such time as their job vacancy has been filled and the selected applicant has completed a period of work. It's not surprising, then, that temp staffing agencies often struggle with cash flow issues!

 

How Factoring Can Help Temp Staffing Agencies With Cash Flow

 

Temp staffing agencies are required to use their own finances to pay for the necessary advertising in order to place their job candidates. The client is only invoiced once the temp agency has located the perfect applicant and that person has actually worked, which can involve a long period of time before being paid. And when they are paid, they're often paid on a per-hour basis, determined by the number of hours the successful applicant has worked. In the meantime, the temp staffing agency still has its own financial obligations, like rent, payroll, advertising costs, office supplies, and so on. All these expenses must be paid by their due date, which can place an agency in a short-term (sometimes long-term) financial crisis.

 

Temp Staffing Agencies Must Meet Their Own Financial Responsibilities

 

Like any other business, temp staffing agencies can't postpone their own financial obligations, so they need access to money. Rent must be paid, utilities must be paid, and their employees need to be paid on a regular basis. All business offices require supplies and money must be available to advertise job openings, so it's understandable that waiting to be approved for a bank loan may not be a practical or even feasible option. These temp staffing agencies need access to money, and the sooner the better. That's why we suggest that invoice factoring may be the ideal solution for resolving a temp staffing agency's cash flow problem.

 

How Factoring Works for Temp Staffing Agencies

 

When any business decides to negotiate an invoice factoring program to generate instant cash, the business may, in many cases, secure up to 92% of the total value of their invoices within 24 hours! Note that if this is the first time the temp staffing agency has worked with a factor it could take between four and seven days to establish a factoring program. Either way, the agency's cash flow problems will be over, and they can proceed to conduct and grow their business.

 

Many temp staffing agencies are affected by cash flow problems, sometimes only occasionally, but we strongly suggest all agencies learn about factoring and how it works, just in case the need for immediate cash should arise. Invoice factoring has become a very popular financing option for many businesses, particularly those who need an urgent cash injection. Most times, money will be advanced within 24 hours once the agency has established a relationship with a factoring company.

 

Invoice Factoring is NOT a Loan!

 

Another bonus of invoice factoring is that it's not a loan. Basically, all the temp staffing agency is doing is accessing money that's already owed and payable to them. Factoring simply provides a means for the agency to access this money when it's most needed

 

Now, temp staffing agencies don't need to approach banks and other traditional lending authorities, hoping and praying they qualify for a loan. All that's required is for the agency to provide the factoring company with copies of the invoices they wish to sell, together with time sheets for each employee. Then, within 24 hours the agency will receive a cash deposit into their bank account. No more cash crisis! The temp staffing agency will now have funds to meet their regular financial obligations without the need to take on any further debt.

 

 

 

 

 

Fort Worth Factoring Companies Articles

Healthcare Staffing Factoring

 

The healthcare field is arguably one of the most rapidly growing industries in the United States. With the baby boomers, the largest section of our population, reaching retirement age the need for expanding healthcare services has never been more pronounced.

 

At the center of this growth are healthcare staffing agencies that hire for hospitals, clinics, doctor's offices and a wide range of medical facilities. However, while business is booming the ability for these staffing agencies to expand is inhibited by the customer invoice system. Fortunately, there are healthcare staffing factoring companies around to help them in their time of need.

 

We asked the owner of a local healthcare staffing agency, Joy Reed, to talk to us about how factoring companies helped expand her business and provide a much needed boost at a critical time for her company.

 

"Hello Joy and welcome. I was hoping you would tell us a little about how healthcare staffing factoring companies helped your business, but I suppose we should begin by how you got started in this business?"

 

Joy Reed (JR), "Thanks for having me. I actually have been a part of several start-up businesses in my recent career and was looking for a field that would show a lot of promise. It was pretty clear to me that medical staffing was a big need in the healthcare field so I set about to start my own business. I had experience in starting up businesses before, so I drew up a business plan, took out a loan, rented the offices and hired a staff to get started."

 

"So, you did what most people do in starting up a business. How did it do?"JR: "I actually got off to a pretty good start. I had made a few contacts and managed to get some business right away. This was really helpful because as you might know our clients use invoices for payments and it can take up to 90 days before we actually get the cash in hand. Around four months in we were facing a real crossroads as new opportunities opened up for our business, but we didn't have the cash on hand to take advantage."

 

"I'm a little confused. You say you were doing well, but you didn't have the ability to expand your business?"

 

JR: "That's right. The problem was back to the invoices that were making up wait up to 3 months before we had the cash. I really wanted to expand my staffing business to handle the new opportunities I was being presented, but I couldn't because I was still waiting on the invoices to finally turn to cash. So I was asking my accountant about what could be done when the suggestion of a healthcare staffing factoring company was introduced."

 

"Tell us a bit more about factoring companies."

 

JR: "Basically, factoring companies purchase the invoices right on the spot so you can have cash on hand immediately instead of waiting up to three months. For healthcare staffing factoring companies, they will then collect the money from the business when the invoice is read to be fully paid. It really worked out for me because I was able to get cash quickly to add new personnel and even expand my offices to include another section of the building I was renting in."

 

"I understand that factoring companies are there for many different kinds of businesses, including medical staffing. Was it difficult to get set up with a factoring company?"

 

JR: Actually, it was pretty easy once we found a company that met our needs. I just filled out a short form and they looked over a few of the invoices I had to see what companies that I worked with. It really didn't take long at all before they agreed to cash some of the invoices and I got the money I needed to expand."

 

"Could you tell me a little more about the advantages of using a factoring company like this?"

 

JR: "Sure, I was not only able to hire a couple of new people and rent additional space, I've been able to cash my invoices when unexpected bills come up or if I need to make a purchase quickly for a new piece of equipment. This has come in really handy recently when I decided to move to a new location and needed some cash on hand to make the transition. The factoring services are really quite good with reasonable rates and fast service."

 

"What's the differences in using factoring companies over getting a new loan?"

 

JR: "It is frankly much better than getting a loan because with factoring there is nothing to pay back. We are basically getting our own money from the invoices we've earned up front and paying only a small fee. With a loan, I would not only have to pay it back but with interest as well. Factoring for us has really been a godsend when it comes to making decisions about how to expand my business. I'm no longer tied down to waiting 2 to 3 months to get paid when I can take what my business has earned and get cash immediately."

 

"I take it that you are happy with how healthcare staffing factoring has worked out for you?"

 

JR: "You would be correct. I cannot imagine how my business would have expanded at that critical time without factoring companies to buy my invoices. This is a great service that has helped me in my time of need and now my medical staffing business is bigger than ever. I'd recommend factoring companies to anyone running a business that relies on invoices if they need to get cash quickly."

 

There is little doubt that Joy Reed has been quite happy about the services she received working with a factoring company. Perhaps factoring is right for you and your needs, be sure to search for the type of factoring business that works in your field so that you can get the right services in helping your company to succeed.

 

 

 

 

 

Fort Worth Factoring Companies Articles

Freight Bill Factoring: The Best Way to Achieve Your Business Goals

 

Freight bill factoring is not a secret, but many businesses are still unaware of the benefits available to them by factoring their business invoices.

 

If you're planning on starting your own trucking business, or perhaps you already own a trucking business, you may well have heard of freight bill factoring. Many trucking companies confirm that freight bill factoring has been entirely responsible for helping them achieve their overall business goals. So, let's discuss freight bill factoring and how can it help you grow your business.

 

How Freight Bill Factoring Assists Trucking Companies

 

It was recently reported that freight bill factoring has become the financial backbone of the trucking industry, and that's not a surprising statement because factoring provides financing capital that businesses would not otherwise be able to access. The freight bill factoring process is a very simple one: your Bill of Ladings is purchased by a factoring company at a discounted rate. The trucking company receives immediate funds and, because the money received is not a loan, the trucking company is free to use these funds as they see fit. No more cash flow problems!

 

Is Freight Bill Factoring a New Financing Concept?

 

No, it's not new. In fact, freight bill factoring has been around for a long, long time. Almost every civilization engaged in commerce has used some type of factoring. Businesses actively engaged in factoring during North America's colonial period when they made cash advances against accounts receivables to enable the business to carry on with their commercial operations. Of course, factoring has become quite advanced over the years and is now more focused on financial management, collections, and credit worthiness; however, the basic idea of purchasing accounts receivables remains the same today.

 

Today, factoring companies have a lot more to offer than just funding: they now have factoring specialists who assist their clients by evaluating their customer's credit worthiness, defining credit limits, and managing their accounts receivables collections in a professional manner.

 

Right across North America we're seeing all forms of factoring companies servicing business sectors and industries of all types. It's interesting to note that, today, many large financial corporations have their own in-house factoring divisions; however, factoring companies are typically independently-owned enterprises.

 

Commercial Banks Are No Longer Supportive of Small Business

 

Commercial banks today are operating under very strict regulations with constantly changing lending criteria, thus making it very difficult for business owners to apply for and be accepted for a bank loan. Their inflexibility has left small and medium-sized businesses out on a limb, searching for alternative financing sources. Fortunately, factoring provides these businesses with the financing solutions they're looking for.

 

Freight bill factoring offers a workable solution for these businesses when conventional financing methods are simply not available. And now that banks and other lending institutions have become less friendly to small business owners, factoring as a financing remedy is looking much more attractive.

 

Interesting statistics show that the volume of factoring around the globe has now exceeded the trillion-dollar mark, with factoring companies operating right around the world. In the last four years alone, there's been an increase in factoring transactions by 60%.

 

Factoring companies provide businesses with the working capital they need to operate and grow their businesses and, because factoring is not a loan, there really are no disadvantages to factoring.

 

 

 

 

 

 

Fort Worth Factoring Companies Articles

Oil Well Cleaning Owner Interview

 

The oilfield services industry is certainly a booming one these days thanks to a renewed emphasis on searching and drilling for oil on private and state properties. One of the more profitable ventures in this field is not the drilling for oil, but the cleaning of oil and gas wells to keep them operating at full efficiency. Oil and gas drilling is a dirty business and wells will quickly become clogged even with regular maintenance.

 

Jeffrey Fielding is the owner of an oil well cleaning company who works with several drilling companies in providing cleaning and maintenance of oil wells. Over the past couple of years, Jeffrey has managed to grow his business considerably thanks in large part to his perseverance and determination. However, things were really tight when Jeffrey first started up his company and at one point he was faced with a dilemma that he didn't know how to overcome.

 

The following interview with Jeffrey tells how he managed to expand his company at a crucial time thanks to oilfield services factoring. If it wasn't for the presence of factoring companies that worked in his field, Jeffrey might be in a completely different business today.

 

"Hello, Jeffrey. It's good to talk with you and I'm glad you were able to spare the time to share your story with us."

 

Jeffrey Fielding: "Thanks, I'm glad to be here."

 

"Jeffrey, tell us a little about how you got into the oil well cleaning business first as it's something our listeners may not be fully aware of."

 

JF: "No problem, I'll start at the beginning. About ten years ago I joined an oil well crew as a roughneck, working my way up through the business. It was hard work and our crew was usually out in the middle of nowhere, but the money was good and the opportunities kept building for me. I quickly learned the job and was hired by a number of drillers to work their rigs over the next few years during the boom in the oil industry."

 

"Right from the beginning, I took notice the oil well cleaning crews that would work each rig and started talking to the guys who were a part of that business. After a few years it became clear to me that oil well cleaning was really where it was at 'cause the work was really steady and the money was just as good, if not better than what I was making. So, with the money I had saved up along with a couple of partners I opened up an oil well cleaning company of my own."

 

"It certainly sounds like you struck gold so to speak. So tell us how your business started."

 

JF: "It was pretty easy as we got our business loan, purchased the equipment and hired a couple of experienced people to help us clean oil wells. We had some pretty good connections and the orders started to pile in, but then we ran into a problem that none of us could even dream of happening. We became victims of our own success."

 

"I don't think I quite understand, could you explain just how that happened?"

 

JF: "Sure, about six months in we suddenly got new drillers who wanted to use our services, but we didn't have the money to expand. We get paid by invoice which can take up to 60 days to see the cash which meant that we trying to pay down our loan, the payroll and the equipment, fuel and other costs and didn't have enough cash on hand to expand. We knew that if we didn't hire new people and buy new equipment that we would miss out on a golden opportunity. However, one of my friends told me about oilfield services factoring companies that could help us out."

 

"What are factoring companies?"

 

JF: "Basically, a factoring company will buy the invoice and get us the cash immediately. We had good credit and our invoices were certainly good as well. By using their services, we were able to get the cash in our hands quickly and pay for new equipment to then expand our business efforts."

 

"It certainly sounds like the factoring companies saved the day for you, but just how do they work?"

 

JF: "Well, it was a pretty simple process. We just filled out a few forms with the information that they requested and then we sold the invoices we had already collected, but had not collected to the factoring company. We got the cash we needed immediately and they collected the invoice."

 

"It certainly sounds pretty easy, but why didn't you just get another loan?"

 

JF: "My partners and I went over that and another loan would just be too big a burden. We were already paying off our old loan which was considerable and didn't want to have more debt hanging over our company. By going with the oilfield factoring companies, we didn't owe anyone, anything. We just collected the money that we were owed a lot more quickly."

 

"So, how is business now?"

 

JF: "It's better than ever. By using a factoring company I was able to buy new tubing, cleaning fluids, a new vehicle and other equipment that let us take on the new orders. We were able to expand the business quite a bit and our reputation is such that we work with several drilling companies."

 

"It sounds like a dream come true."

 

JF: "It really does, but I don't know what we would have done if factoring companies didn't exist. We still use them when we need cash for new equipment or products to do our job. It's quick, safe and brings us the money we need to continue our business."Jeffrey's company really benefitted from using oilfield factoring companies that served his industry. There are factoring companies for other types of businesses as well that can take invoices and turn them into quick cash for businesses that need to expand. For Jeffrey and many other small business owners, factoring companies can make the difference in the success of your efforts.

 

 

 

 

 

Fort Worth Factoring Companies Articles

Medical Invoice Factoring: A Viable Financing Option for Healthcare Professionals

 

Many healthcare professionals will attest to the fact that qualifying for a business loan or commercial line of credit is becoming harder and harder. Fortunately, there is a viable option, and it's known as Medical Factoring. Medical factoring is available for all types of healthcare businesses, including medical practices, and is the ideal financing option for businesses experiencing cash flow problems.

 

The Challenges Faced by the Healthcare Industry

 

Generally, the healthcare industry has excellent growth prospects and is quite resilient to economic turbulence, but it's also an industry facing more financial challenges than ever before. In years gone by, healthcare professionals, medical facilities, and medical suppliers found it reasonably easy to manage their cash flow, but today Medicaid, Medicare, and private insurance companies have laid down strict guidelines for reimbursement, including onerous documentation and billing requirements, so-much-so that businesses not only receive less money, but must wait longer to receive it.

 

This situation can, and does, create financial issues for many medical providers who, while dealing with increasing operating expenses, salaries, and benefits, must also accept less and wait longer to receive their money. In many cases, the health provider's long-term viability is placed in jeopardy, and because of cash flow problems the business is unable to pursue new opportunities for growth. A physician running a relatively small practice could well have $1 million tied up in receivables!

 

The Problem with Bank Loans

 

When any business confronts a cash flow crisis their first port of call is usually a bank or other commercial lender, and a Line of Credit or business loan can certainly help in the short term; however, neither will permanently solve the problem and are therefore not optimal financing solutions. Bank loans are more suited to large fixed capital purchases, but they're not designed to cover short-term recurring business expenses. On the other hand, a Line of Credit is somewhat better, but because they have credit limits and fixed terms they're not able to provide the assurance a business needs of an unlimited, renewable source of business capital. Once the credit limit has been reached or the term of credit line ends, the lender has the right to not renew or increase the credit limit. And, unfortunately, this is the situation that many healthcare professionals find themselves in today.

 

The Perfect Medical Financing Solution

 

So, what's the ideal solution for medical financing? The perfect solution would be one that's flexible enough to grow and expand with the healthcare business; one where the business owner is not required to re-apply to a bank or other lender for credit limit increases. The ideal solution would provide a reliable and steady source of working capital, capable of financing both the current and future operations of the business.

 

Medical Factoring

 

Fortunately, there is a solution for healthcare professionals, and it's known as Medical Factoring. Medical Factoring, or Medical Receivables Factoring is an area of receivables factoring that deals exclusively with accounts that are medical in nature. Due to the fact that many healthcare receivables are either reduced or denied by insurance providers, and because of the expertise required to manage the claims process, factoring companies who factor medical receivables face significant challenges, so-much-so that it's almost a necessity for these companies to specialize in medical factoring. In fact, there are many factoring companies out there that do nothing else!

 

What Types of Business Use Medical Factoring?

 

Factoring has been around for hundreds of years and many industries have discovered the benefits of invoice factoring. However, many medical service providers are completely unaware of the existence of factoring and therefore don't realize that it's one of the most flexible and powerful business financing tools available today. Almost any healthcare provider can benefit from Medical Factoring, including -

 

- Medical Centers and Hospitals;
- Physicians - General Practitioners and Specialists;
- Outpatient Facilities and Clinics;
- Medical Staffing Services;
- Medical Labs;
- Dialysis Facilities;
- Physical Therapy Groups and Clinics;
- Rehabilitation Centers;
- Home Healthcare Providers;
- Providers of Durable Medical Equipment.

 

The Benefits of Medical Factoring

 

The benefits of medical factoring are many, and are similar to those enjoyed by businesses in other industries. They include -

 

- Fast payment;
- Consistent cash flow;
- Outsourced accounting and invoice collection;
- An increase in percentage of billings collected;
- Working capital finance that's debt free;
- Building business credit.

 

Medical Practices

 

Receivables Factoring offers medical practices an excellent financing alternative to loans: the medical practice will have consistent and flexible financing tied directly to its insurance claims. This means that the amount of available financing increases as more claims are filed. Having a reliable cash flow in a growing medical practice ensures that there will always be sufficient liquid business capital to cover expenses.

 

Medical Supply Companies

 

In the same way, medical factoring offers medical supply companies quick and predictable business financing, directly tied to the volume of sales. The amount of financing grows as sales grow, automatically providing the working capital needed to both operate and grow the business.

 

Generally, medical factoring is particularly well suited for smaller medical offices. Because your chosen factoring company will be handling most of the administrative work involved in collections and claims processing, overhead expenses and office staffing can be kept at a minimum, thus allowing you to focus on what you do best - delivering the best medical care possible!

 

If you have a small practice with good growth prospects, but you also have slow cash flow, then you'll soon discover that medical factoring could well be the ideal financing tool to help you finance the growth of your business. It's true that most factoring companies have minimums, but there are factoring companies out there who will finance an office billing as little as $50,000 per month.

 

How Medical Receivables Factoring Works

 

Medical Factoring is quite simple: Basically, medical factoring accelerates payments for any healthcare business that depends on third-party payors. This means that within days of the initial billing (instead of weeks) most of the business's billed amount will be deposited directly into that business's bank account, thus drastically shortening the collection cycle and eliminating the constant headache of cash flow problems.

 

The added bonus of medical factoring is that it's not a loan, and as such, has no impact whatsoever on the business's balance sheet. There are no arbitrary limits, no credit limits, and no stringent financial requirements. The healthcare professional can factor as much of the billing as is generated by the business, thus making factoring the ideal financing tool for business growth.

 

How to Create a Factoring Program

 

Setting up a factoring program will typically take a couple of weeks at most. Obviously, the factoring company will need reassurance that the third-party payors are reliable and that their clients' practices are stable. However, once the factoring program has been established, medical financing is predictable and continuous. Claims will typically be funded within 48 hours after being submitted to the medical factoring company.

 

The Factoring Process

 

Medical Factoring is a very simple process -

 

- Periodically, your practice submits billings to Medicare, Medicaid, and insurance companies (note that certain medical factoring companies will do this for you), with copies forwarded to your factoring company;
- Within 48 hoursthe advance, or up to 85% of net collectables, will be deposited into your business bank account. The balance will be held in reserve to settle billing discrepancies;
- The factoring fee will be collected once a factoring company has been paid, with the balance of the billings being remitted to you. The fee charged by the medical factoring company will vary according to the size and types of claims generated by the practice.

 

The Future of Medical Factoring

 

It's true that medical factoring covers a relatively small portion of factoring activity overall; however, more healthcare professionals are learning about factoring and, today, we're seeing an increase in interest in medical factoring throughout the healthcare industry. As the benefits of this type of medical financing become more widely known, it's anticipated that medical receivables factoring will become more widely used.

 

Medical factoring provides a short-term solution for shortfalls in working capital financing, plus a long-term solution for medical financing and patient accounting support, and it's for these reasons that medical factoring as a financing tool deserves careful consideration by healthcare businesses.

 

 

 

You Can Find More Information at  https://designbyinc.com
and at List of Factoring Companies

Call Us Today at: 1-866-593-2195

 

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

 

 


 

Get CASH NOW for your outstanding invoices.

 

New York City

 

Los Angeles

 

Chicago

 

Houston

 

Philadelphia

 

Phoenix

 

San Antonio

 

San Diego

 

Dallas

 

San Jose

 

Austin

 

Jacksonville

 

Indianapolis

 

San Francisco

 

Columbus

 

Fort Worth

 

Charlotte

 

Detroit

 

El Paso

 

Memphis

 

Boston

 

Seattle

 

Denver

 

Washington DC

 

Nashville Davidson

 

Baltimore

 

Louisville Jefferson

 

Portland

 

Oklahoma City

 

Milwaukee

 

Las Vegas

 

Albuquerque

 

Tucson

 

Fresno

 

Sacramento

 

Long Beach

 

Kansas City

 

Mesa

 

Virginia Beach

 

Atlanta

 

Colorado Springs

 

Raleigh

 

Omaha

 

Miami

 

Oakland

 

Tulsa

 

Minneapolis

 

Cleveland

 

Wichita

 

Arlington

 

New Orleans

 

Bakersfield

 

Tampa

 

Honolulu

 

Anaheim

 

Aurora

 

Santa Ana

 

St. Louis

 

Riverside

 

Corpus Christi

 

Pittsburgh

 

Lexington Fayette

 

Anchorage

 

Stockton

 

Cincinnati

 

St. Paul

 

Toledo

 

Newark

 

Greensboro

 

Plano

 

Henderson

 

Lincoln

 

Buffalo

 

Fort Wayne

 

Jersey

 

Chula Vista

 

Orlando

 

St. Petersburg

 

Norfolk

 

Chandler

 

Laredo

 

Madison

 

Durham

 

Lubbock

 

Winston Salem

 

Garland

 

Glendale

 

Hialeah

 

Reno

 

Baton Rouge

 

Irvine

 

Chesapeake

 

Irving

 

Scottsdale

 

North Las Vegas

 

Fremont

 

Gilbert town

 

San Bernardino

 

Boise

 

Birmingham

 

Rochester

 

Richmond

 

Spokane

 

Des Moines

 

Modesto

 

Fayetteville

 

Tacoma

 

Oxnard

 

Fontana

 

Columbus

 

Montgomery

 

Moreno Valley

 

Shreveport

 

Aurora

 

Yonkers

 

Akron

 

Huntington Beach

 

Little Rock

 

Augusta

 

Amarillo

 

Glendale

 

Mobile

 

Grand Rapids

 

Salt Lake City

 

Tallahassee

 

Huntsville

 

Grand Prairie

 

Knoxville

 

Worcester

 

Newport News

 

Brownsville

 

Overland Park

 

Santa Clarita

 

Providence

 

Garden Grove

 

Chattanooga

 

Oceanside

 

Jackson

 

Fort Lauderdale

 

Santa Rosa

 

Rancho Cucamonga

 

Port St. Lucie

 

Tempe

 

Ontario

 

Vancouver

 

Cape Coral

 

Sioux Falls

 

Springfield

 

Peoria

 

Pembroke Pines

 

Elk Grove

 

Salem

 

Lancaster

 

Corona

 

Eugene

 

Palmdale

 

Salinas

 

Springfield

 

Pasadena

 

Fort Collins

 

Hayward

 

Pomona

 

Cary

 

Rockford

 

Alexandria

 

Escondido

 

Mckinney

 

Kansas City

 

Joliet

 

Sunnyvale

 

Torrance

 

Bridgeport

 

Lakewood

 

Hollywood

 

Paterson

 

Naperville

 

Syracuse

 

Mesquite

 

Dayton

 

Savannah

 

Clarksville

 

Orange

 

Pasadena

 

Fullerton

 

Killeen

 

Frisco

 

Hampton

 

Mcallen

 

Warren

 

Bellevue

 

West Valley City

 

Columbia

 

Olathe

 

Sterling Heights

 

New Haven

 

Miramar

 

Waco

 

Thousand Oaks

 

Cedar Rapids

 

Charleston

 

Visalia

 

Topeka

 

Elizabeth

 

Gainesville

 

Thornton

 

Roseville

 

Carrollton

 

Coral Springs

 

Stamford

 

Simi Valley

 

Concord

 

Hartford

 

Kent

 

Lafayette

 

Midland

 

Surprise

 

Denton

 

Victorville

 

Evansville

 

Santa Clara

 

Abilene

 

Athens

 

Vallejo

 

Allentown

 

Norman

 

Beaumont

 

Independence

 

Murfreesboro

 

Ann Arbor

 

Springfield

 

Berkeley

 

Peoria

 

Provo

 

El Monte

 

Columbia

 

Lansing

 

Fargo

 

Downey

 

Costa Mesa

 

Wilmington

 

Arvada

 

Inglewood

 

Miami Gardens

 

Carlsbad

 

Westminster

 

Rochester

 

Odessa

 

Manchester

 

Elgin

 

West Jordan

 

Round Rock

 

Clearwater

 

Waterbury

 

Gresham

 

Fairfield

 

Billings

 

Lowell

 

Ventura

 

Pueblo

 

High Point

 

West Covina

 

Richmond

 

Murrieta

 

Cambridge

 

Antioch

 

Temecula

 

Norwalk

 

Centennial

 

Everett

 

Palm Bay

 

Wichita Falls

 

Green Bay

 

Daly City

 

Burbank

 

Richardson

 

Pompano Beach

 

North Charleston

 

Broken Arrow

 

Boulder

 

West Palm Beach

 

Santa Maria

 

El Cajon

 

Davenport

 

Rialto

 

Edison

 

Las Cruces

 

San Mateo

 

Lewisville

 

South Bend

 

Lakeland

 

Erie

 

Woodbridge

 

Tyler

 

Pearland

 

College Station

 

Albany

 

Allegheny

 

Brooklyn

 

Camden

 

Canton

 

Dearborn

 

Duluth

 

Fall River

 

Flint

 

Gary

 

Hammond

 

Kenosha

 

Livonia

 

Lynn

 

Macon

 

New Bedford

 

Niagara Falls

 

Parma

 

Portsmouth

 

Reading

 

Roanoke

 

Scranton

 

Somerville

 

St. Joseph

 

Trenton

 

Utica

 

Wilmington

 

Youngstown