Gil Oliva

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Increase your Cash Flow – 8 Tips to Encouraging Prompt Payment

Posted by Gil Oliva on Fri, Oct 17, 2014 @ 08:13 AM

This may sound like a strange question, but have you taken everything into consideration when it comes to your customers with regard to prompt payment? 

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Topics: Cash Flow, About Invoice Factoring, Purchase Order Financing

Invoice Factoring – A Valuable Alternative Lending Source

Posted by Gil Oliva on Wed, Oct 15, 2014 @ 07:49 AM

Invoice factoring is increasing in popularity as an alternative lending source, why?

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Topics: Alternative Financing, About Invoice Factoring, Financing Government Contractors, Merchant Cash Advance

Is your Outdated Finance Management System Hurting your Business?

Posted by Gil Oliva on Fri, Oct 03, 2014 @ 08:00 AM

How long do you spend working on invoicing and all the related spreadsheets and paperwork inherent in the process? Is this the most effective use of your time? 

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Topics: Factoring Accounts Receivable, Accounts Receivable Management, Client Center

What do I need to do to Qualify for a Small Business Loan?

Posted by Gil Oliva on Wed, Sep 24, 2014 @ 07:56 AM

Small businesses need to be funded, and it appears that the options for funding are opening up. Let’s consider the small business loan option, and what you will need to provide to your lender when applying.

An article in SBA News very clearly sets out what needs to be addressed when your company decides to apply for a business loan. The most common forms of small business financing can be found through a bank or a government agency such as the Small Business Administration (SBA). The most important requirement is that your company must be financially able to cover any obligations despite any hiccups along the way. It is vital to maintain good credit standing and excellent business relationships with both customers and vendors

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Topics: About Invoice Factoring, Financing Government Contractors, Working Capital, Small business loan

Cash Flow Management – The Growth Catalyst

Posted by Gil Oliva on Fri, Sep 19, 2014 @ 08:01 AM

Poor cash flow management; it is the Achilles heel for many small businesses. It is always hard when your customers pay late, but if you effectively manage your cash flow, late payment shouldn’t mean disaster. It pays to be prepared!

Let’s face it; there is a lot to think about when starting a new business. It is common business practice to take on long, and short-term debt to help finance operating expenses, especially as you start out and as you begin to grow. This debt needs to be managed and utilized in a way that will encourage success, not bog you down in the debt mire. It certainly feels great when you realize your company has grown enough that you can balance your accounts payable with your accounts receivable. But then it is time to grow again and this is when cash flow management becomes even more critical.

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Topics: Manufacturing and Distribution Financing, Cash Flow, About Invoice Factoring, Financing Government Contractors

Are Reminder Letters Really an Important Part of Invoice Collection?

Posted by Gil Oliva on Fri, Sep 12, 2014 @ 07:57 AM

Worried about timely payment of your accounts receivable? Never underestimate the importance of a reminder letter. Try the ‘I want to help’ approach before considering a collection agency. One of the biggest headaches for any small business is the payment collection challenge.

If you have planned and worked out which customers are good credit risks, and have offered them payment terms, you may then be concerned about further late payment. So you want to employ the most effective tactics to encourage on-time payment. Are you prepared to ask your customers to pay their bills, or do you leave it until payment is late and decide on an approach then? Payment reminder letters are always helpful as a tactic prior to any form of late payment.

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Topics: Cash Flow, About Invoice Factoring, Accounts Receivable Collection

How can I use Invoice Factoring for Cash Flow?

Posted by Gil Oliva on Fri, Sep 05, 2014 @ 07:48 AM

Why do we talk about cash flow so much? Because successful business is ultimately all about cash flow. It is always good to revisit the benefits of invoice factoring when it comes to cash flow management.

Just to clarify the role of a factor for those of you new to our blog, or to the process of factoring: Companies that are either struggling with cash flow or slow-paying customers can sell their invoices or accounts receivable to a factor. The factor advances the vast majority of the invoice amount, usually between 70 to 90%, once the credit-worthiness of the billed customer is checked. When the invoice is paid, the factor remits the balance, minus a small factoring fee.

So it is immediately apparent how factoring can help cash flow. Not having to wait 30-90 days for payment on outstanding invoices gives a company the ability to utilize that money immediately to pay bills or grow.

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Topics: About Invoice Factoring, Fuel Advance Factoring for Trucking Companies, Payroll Advance Program for Staffing Agencies

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