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

Bay View Funding is starting a Penny War – Find Out Why!

Posted by Jesus McDonald on Wed, Feb 05, 2014 @ 08:01 AM

The month of February will see the employees of invoice factoring company Bay View Funding in a war involving pennies! However, in this ‘war’ everyone wins, with the proceeds going to the American Cancer Society.

The Penny War is becoming an annual tradition at Bay View Funding! This friendly rivalry between office mates is all about raising money for charity. Last year close to $1000 was raised for the American Cancer Society. There are high hopes that the amount raised will increase this year, considering the level of office competition. When they are not busy financing accounts receivables for their customers, employees will be putting their spare pennies to war!

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Topics: Financing Government Contractors, About Invoice Factoring

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

3 Hot Tips to Successful Accounts Receivable Collection

Posted by Aaron Zahedani on Fri, Jan 24, 2014 @ 07:59 AM

How frustrated must you become before you resort to nasty letters and angry attitudes towards your late paying customers?

Large and experienced AR departments often have a solid policy in place to help with invoice collection from late paying customers. The staff has been carefully trained to remain calm. They have several arrows in their bow to deploy in a potentially inflammatory situation. Not so for small business owners, collecting on your invoices is just a small part of your many responsibilities; you are simply wearing too many hats! And this can be a drain on your time and your patience

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Topics: Accounts Receivable Collection, Financing Government Contractors, About Invoice Factoring

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

Small Business Government Contractors - 2014 News Update

Posted by Aaron Zahedani on Wed, Jan 15, 2014 @ 07:30 AM

The 2014 National Defense Authorization Act is set to encourage a boost in defense authorization for small business contractors.

In an article posted on Government Executive, Charles S. Clark reports that the defense authorization bill President Obama signed on Dec. 26 includes two sections designed to help small business government contractors. Specifically, these two sections within the 2014 National Defense Authorization Act are set in place to attempt to:

  • Crack down on re-routing agency contract work set aside specifically for small business to large companies.
  • Incentivize prime contractors to consider small businesses for subcontracts.
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Topics: Government Contract Financing, Financing Government Contractors, About Invoice Factoring

Recruiting Top Talent – 2014 Hottest Temporary Staffing Trends

Posted by Jesus McDonald on Fri, Jan 10, 2014 @ 08:00 AM

Want to hire and retain the best talent?  Examine the hot temporary staffing trends for 2014. 

The most significant staffing industry trend is the dramatic increase in the number of people looking for temporary or contract work rather than long-term permanent positions. This is excellent news for temporary staffing agencies, but what is trending when it comes to attracting top talent?

 

  • Technology as a connection tool

Technology is continuing to play a huge role in this ever-evolving marketplace, from social media outreach, to a current trend in video interviewing. Connecting quickly and efficiently with new recruits is vital if you wish to hire the best. It is so much more than word of mouth, now it is how quickly the word can be spread!

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

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