Bay View Funding Blog

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? 

Bay View Funding provided over $5 million in factoring facilities to a total of twenty-one companies during the month of July.

Invoice factoring is very much alive as an effective form of financing. Bay View Funding successfully closed over $5M in factoring facilities for the month of July. Facilities have been provided to clients within a variety of industries such as, wholesale apparel, transportation, cell tower maintenance, water conservation, and distribution.

Every month Bay View Funding introduces many new companies, in diverse industries, to the benefits of factoring their invoices, which provides them with the necessary working capital to meet operating costs and support business growth.

The Mid Atlantic Region of Bay View Funding has recently introduced three new specialist businesses to accounts receivable financing.

Projecting cash flow is one of the most vital elements to a profitable business. If the cash flowing in to your business is not matched with the cash flowing out, chances are you will be looking at badly managed cash flow, and a potential crisis.

When it comes down to choosing an invoice factoring company, there are many questions that need to be addressed, and many concerns to overcome, before there is a mutual decision to move forward. For Bay View Funding, the relationships they forge with their customers, and their customer’s clients are of paramount importance.

There is a lot of talk about the initial decision to factor, and discussion about the process and all the documentation required. But one of the most frequent concerns is ‘How will you treat our customers?’ Do they have to know we are factoring their invoices? This concern is very real, simply because the answer is ‘yes’ they do need to know. Factoring with an experienced company can actually enhance your relationship with your customers.

The team at Bay View Funding does not want your decision to factor to be based upon your concern about how your customers will be treated. Excellent customer service is an integral part of our company philosophy. Professional and friendly service is on going and not just something to be considered on initial contact, in order to get business, or when the first set of invoices are funded.

Bay View Funding has successfully funded advances of over $450,000.00 to 3 high growth companies with working capital challenges in Philadelphia, Delaware, and New York.

While we like our blogs to be informational, we think it is helpful to illustrate the ways in which working capital can be managed with the help of invoice factoring. We are happy to share some recent success stories, and will do this from time to time to highlight the industry specific companies we are able to help.

Jerry Calabrese, Business Development Manager, for Bay View Funding in the Mid Atlantic Region, shared “It is always gratifying to enable high growth companies succeed using invoice factoring, a much overlooked, but extremely simple, effective source of financing. The 3 companies in question were experiencing different situations that were a perfect fit for accounts receivable funding. We were able to provide a simple solution to the challenges they were each facing.”

It is helpful to revisit the fundamentals of invoice factoring periodically. We frequently refer to the invoice factoring procedure in many blogs, but often when concentrating on the benefits of accounts receivable financing as it relates to a specific topic. We have recently discussed the documentation and process involved, but let’s illustrate a little further.

When you decide to factor your company’s accounts receivables, you are essentially selling them to a factor at a discount in exchange for a cash advance. The factor must wait normally 30 but up to 90 days to collect the full value of the invoice from your customers.The discounted invoice amount is the factor’s fee for advancing cash on unpaid invoices. This amount may also be referred to as a rate.