Gil Oliva

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The Invoice Factoring Process in 5 Simple Steps

Posted by Gil Oliva on Wed, Mar 12, 2014 @ 08:05 AM

From Initial Contact to Commitment – Invoice Factoring in 5 Simple Steps

The invoice factoring promise of an injection of money now for invoices due to be paid by your customer later could be just what your company needs to succeed. However, rather like applying for a mortgage, or filling out your tax return, the process may initially seem intimidating.

Any application that involves filling out paperwork, and a request for detailed documentation, certainly requires a level of commitment. Once you have investigated invoice factoring as an option, consider the complete invoice factoring cycle to help you decide if factoring really would be a great fit for your company.

The steps are simple, but it pays to be prepared:

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Topics: How to Grow Your Business, Financing Government Contractors, About Invoice Factoring

Be the Best Temporary Staffing Agency – How Payroll Financing can help!

Posted by Gil Oliva on Fri, Feb 21, 2014 @ 07:55 AM

As a temporary staffing agency, you find the best people for the best positions – Concentrate on your exceptional skills, and allow us to help you with your working capital requirements!

Your temporary staff is your lifeblood, but connecting with the correct companies with which to do business is an absolutely imperative element to success. As a staffing organization, you are essentially providing an outsourced recruiting and screening service for many diverse industries, companies and for many different positions. The pressure is on!

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Topics: Payroll Funding for Staffing Companies, Financing Government Contractors, About Invoice Factoring

Invoice Factoring - What Happens When Customers Don’t Pay?

Posted by Gil Oliva on Wed, Feb 19, 2014 @ 08:21 AM

Considering invoice factoring? Worried about the implications if a customer does not pay? Allow us to help clarify the process.

Firstly, to put your mind at rest before we go into details, an efficient invoice factoring company will thoroughly vet your customers for reliability to reduce the risks associated with non-payment:

With these provisions in place, non-payment to your factor by your customer would be unlikely, but let’s still address the outcomes should your customer choose not to pay.

One of the main decisions is to determine the best factoring service for your company. This relates to the contract you sign when you decide to sell your invoices to a factor for fast cash flow.

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Topics: About Invoice Factoring

Factor More Invoices - Grow Your Business

Posted by Gil Oliva on Wed, Feb 12, 2014 @ 08:14 AM

Are you already factoring some of your invoices? Have you thought about how factoring more of your accounts receivables could help grow your business?blog_2.12

Generally speaking, the rates you receive from an invoice factoring company will vary according to a selection of criteria, which will alter slightly from factor to factor:

  • Anticipated monthly invoice factoring volume
  • Customer credit worthiness
  • Number of factored customers
  • Number of invoices sent to customers
  • Average invoice amount
  • Accounts receivable turnover (average paying time)
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Topics: Business Growth, How to Grow Your Business, Financing Government Contractors, About Invoice Factoring

Invoice Factoring Vs. Merchant Cash Advances – What’s the deal?

Posted by Gil Oliva on Fri, Feb 07, 2014 @ 07:55 AM

You may have heard the latest buzz doing the rounds, a financing tool, known as merchant cash advance, or among other titles, credit card factoring. What is it and how does it compare to invoice factoring?

Similar to accounts receivable financing, a merchant cash advance is not a loan, rather a cash advance, as the title would suggest. Unlike invoice factoring, money is not advanced as a result of invoices issued to customers; it is money advanced on future credit card receipts. Sales are projected and have not yet taken place.

While not a new concept, merchant cash advances have become a popular option for small business owners needing fast access to capital. The premiums for this service can be high – sometimes 30% or more on the money advanced – but there are plenty of businesses prepared to pay the price.

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Topics: About Invoice Factoring, Financing Government Contractors

Invoice Factoring – The Financing Fast Lane

Posted by Gil Oliva on Wed, Jan 29, 2014 @ 08:20 AM

Factoring is a fast and efficient financing option, providing cash now for your invoices due to be paid later. When cash flow is crucial, waiting for a bank loan may not be an option that is fast enough!

There are many reasons to factor your accounts receivables and today I will focus on speed. Hurry up and wait is what can happen when you attempt to secure a loan from the bank. Answering many questions, and gathering paperwork relating to the finances of your company may still end in disappointment.

Have you offered your customers payment terms? Factoring your invoices will enable you to easily and promptly receive cash upon completion of the job rather than waiting up to 90 days for payment.

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Topics: Cash Flow Solution, About Invoice Factoring, Financing Government Contractors

Invoice Factoring – an Immediate Fast Cash Flow Solution

Posted by Gil Oliva on Fri, Jan 17, 2014 @ 07:56 AM

Invoice factoring really can be an immediate cash flow solution if your company is waiting on accounts receivable payment.

In prior blogs, we have discussed how to navigate through the cash flow challenge with suggestions on cash flow best practices. There is no doubt that the faster you get paid, the faster you can grow and take care of business. To recap, factoring your accounts receivables allows you access to your cash today, rather than waiting 30 – 90 days for your invoices to be paid.

Do your research! Make sure you choose an experienced invoice factoring company that thoroughly understands the process. Bay View Funding has been committed to solving cash flow challenges since 1985, and is 100% dedicated to customer satisfaction.

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Topics: Cash Flow Solution, Factoring Receivables, Financing Government Contractors, About Invoice Factoring

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