Factoring is used by companies for many different reasons. One reason to use factoring is lack of working capital due to timing of customer payments. Challenge: A common problem many staffing companies encounter is the timing of cash flow. Many times, companies have weekly payroll; however, their customers pay on a [...]
The COVID-19 stimulus package signed into law on December 27th contains significant enhancements to the employee retention tax credit ("ERC") enacted under the CARES Act. The ERC is a refundable payroll tax credit that was only available to taxpayers who EITHER 1) had their business fully or partially suspended during at least one quarter in [...]
As we all gladly bid 2020 farewell, we look forward to a better and more prosperous 2021. From everyone at CFR, we wish you a safe and happy holiday season.
When a small business is not able to get a traditional line of credit from a bank, factoring can be a quick and easy solution. Factoring provides immediate cash in exchange for selling outstanding invoices to a factoring company. Factoring provides many benefits for B2B companies with outstanding receivables. But there are also disadvantages, [...]
CFR would like to honor all those in the military and their families who have made sacrifices for our country. Thank you for your service.
Rise Up After the Fall Two customers recently came back that have not funded since COVID19. $100,000 for local pipe and steel fabrication shop $1,000,000 factoring line for a national industrial turnaround plant contractor. Businesses are rising after the fall, but some need a helping hand to do [...]
We are proud to announce that Olivia Ventola has been nominated as one of City Business' 2020 Money Makers! Money Makers recognizes financial professionals whose fiscal work has set the pace for their company and the region. Olivia Ventola is currently vice president of Business Development at Cash Flow Resources. She has been with [...]
The coronavirus pandemic continues to impact business activity and consumer behavior. JEDCO and the Jefferson Chamber of Commerce teamed up to offer a Prosper Jefferson webinar on Small Business Financing during the Pandemic. The webinar is scheduled for Wednesday, August 5th, at 10:00 am and will cover the following topics: Current lending landscape in [...]
What is "NFE" and what is "NFE Fees"? "NFE" stands for "Net Funds Employed". NFE refers to a type of pricing factoring companies occasionally offer to clients. It is the balance of outstanding advances on a clients factored accounts receivable. NFE fees are the percentage of that outstanding balance which increases daily. For example, NFE [...]