Service Industry2018-08-31T10:44:50+00:00

Service

Receive working capital fast

Service Companies

Factoring provides reliable, consistent cash flow for your business needs

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FACTORING FOR THE SERVICE INDUSTRY

As a service business, it can sometimes be hard to qualify for a bank loan because rarely does a service business own many “hard assets” to provide for collateral.   Usually, the main asset of a business in the service industry is its accounts receivable.  Unlike banks, factoring companies buy your invoice receivables and base their funding decision on the creditworthiness of your customer.  Late payments, fluctuating overhead or new business opportunities can put a squeeze on cash. Factoring allows you the flexibility to choose as little or as many invoices for funding depending on your business needs.   As your company grows with more customers and larger contracts, your accounts receivable grow, enabling you to factor those new invoices to fund new opportunities.

Benefits

  • Flexibility on funding – choose your invoices – factor as little or as much as your business needs
  • Do not need “hard” assets for collateral collateral
  • Speed up cash flow to meet payroll and other monthly bills
  • Account receivable management and credit reporting on your customers.
  • Personalized service

Since 2003, CFR has been helping fund companies in the service industry.  CFR can help you too by offering you the working capital you need when you need it to be competitive in your industry.  Achieve steady cash flow by factoring your accounts receivable and not waiting 30, 60 or 90 days for customers to pay.  Doing so allows you the time to focus on running your business and meeting your customer needs.

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CASE STUDY FOR SERVICE INDUSTRY BUSINESS

Challenge:  A local concierge company that provides concierge, valet, courier and guest services to businesses and hospitals had trouble maintaining consistent cash flow given lack of timely payments from their customers. This sometimes caused a cash flow crunch to make payroll.

Solution:  With factoring, the company received cash immediately after submitting their invoices to CFR. They no longer had to wait for their customers to pay to receiving working capital to pay employees. Additionally, factoring gives the company flexibility to only factor the invoices when it needs cash flow due to late customer payments or growth in the company.

Results:  Factoring allowed the company to receive cash quicker and maintain consistent cash flow for their business. It also allowed them to have additional working capital during times of company growth, which allowed them to add additional clients without worrying about cash flow squeeze. The company values the trust it has with CFR.

“….and it helped us keep our doors open from time to time.  It helped us make payroll.

Ben Zapata / Omega Concierge Services 

WHY FACTOR WITH CFR?

No Annual Fees

No Maintenance Fees

No Unused Credit Fees

Immediate Funding Available

Funding for companies - poor credit

Funding for growing companies

Flexibility

Business Consulting

Building Business Credit

Resolving Cash Flow

Bank Credit Lines

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CFR

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Online Lenders Merchant Cash Advance

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