Austin companies, are discovering the many benefits of factoring their accounts receivable. A variety of industries, including warehouse and healthcare staffing, oil field service companies, manufacturing and fabrication companies are all enjoying the advantages of factoring.
- Cash Flow – It takes money to make money! Austin companies are enjoying a thriving economy and many companies are quickly outgrowing their capital. Banks are already reacting to the mixed economic signals by tightening their lending standards, leaving business owners with an excellent financing alternative – factoring. Startups and larger enterprises are acquiring larger contracts and customers, with payment terms now extended to 45, 60 or more days. Business owners with growing businesses are left without the cash to make payroll and other operating expenses. Factoring invoices provides the cash flow to cover these expenses without taking out a loan, or not having the credentials to obtain a loan.
- Credit Protection– Large corporations are already showing signs of distress, mainly by slowing down their payments to vendors. Bankruptcy courts are seeing an increase in filings. Savvy business owners are using the risk mitigation strategies a top rated factoring company brings to the table. Factoring companies have access to a number of business credit reporting bureaus. Also, they have a staff that is adept at researching the current financial strength of a customer. This expertise helps steer business owners away from customers who are stretching payments and lack the financial stability to remain viable.
- Fast Funding– Factoring companies can move quickly. Factoring companies focus on the credit strength of their client’s customers, not the owner’s personal credit or the financial strength of the company. A streamlined application process allows a company to submit an application and obtain funding in only two to three days.
Companies in Austin and all over Texas have found American Receivable to be a factoring partner they can count on. We are a 43 year old top rated factoring company with dedicated account managers. Call us today to discover the advantages of factoring with American Receivable.