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.