Bay View Funding Blog

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.

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.

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!

2014 has arrived! There is no time like the present to check the cash flow health of your business.

Often we work through our monthly financial obligations, holding off on important decisions until the money comes in. There are many opportunities to improve cash flow that we tend to overlook, putting off today what we can worry about tomorrow. Time to take control of unpredictable cash flow!

Take a moment to consider our questions concerning your financial relationship with your customers, your operating costs, and your business development. 

1.         Your financial relationship with your customers:

• Are you struggling to manage your financial obligations because of the terms you have set with your customers? Is waiting 30-90 days for payment causing a cash flow crunch?
• Are your customers delaying payment longer than their agreed terms? Are they responsive when you ask for payment?

2013 is coming to a close and it’s time to prepare for 2014. Take a moment to review the key trends in truck fleet management for the upcoming year.

In an extremely informative article, Mike Antich, Editor and Associate Publisher at Truckinginfo.com, shares the top trends in truck fleet management in 2014. Mr. Antich maintains that 2014 and 2015 will be pivotal years for truck fleet management, and fleet efficiencies; he examines trends in the following three areas: 

1.   Vehicle and Equipment 

Lighter-weight equipment specifications in fleet vehicles will lighten the load and continue to help increase fuel economy. Driver comfort, as well as driver safety will be ongoing priorities for vehicle manufacturers, which in turn will encourage a higher rate of driver satisfaction and productivity. In terms of safety, manufacturers are offering enhanced safety features on basic models, thereby increasing safety at all price points.Fleets are obviously impacted by DOT and CSA regulatory compliance, but safety vs. cost needs to be carefully managed. Some fleets are choosing to downsize to smaller GVW vehicles to manage costs while still maintaining safety.

Accounts receivable financing seems like a great option for your company, but what if you can also qualify for a line of credit from the bank?

Factoring your invoices is regularly suggested as a viable option when you cannot qualify for a line of credit from the bank. Why should a company consider factoring when they are able to secure bank funding? 

A bank line of credit will certainly help meet the cash flow needs of your business. If the credit history of your business is strong, and interest rates are low, you can most likely secure an excellent rate for your line of credit. Following the approval process, a sum of money is then available to tap into as and when your company needs it. The benefits: