How Invoice Factoring helped 3 Companies with Working Capital Challenges

Posted by Gil Oliva on Wed, Apr 09, 2014 @ 08:14 AM

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.”

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

Why are Accounts Receivable Aging Reports so Important?

Posted by Gil Oliva on Fri, Apr 04, 2014 @ 07:53 AM

In order to structure a workable operating budget for your company, it is necessary to periodically generate an accounts receivable report showing the aging process for outstanding invoices for any goods and services supplied.

accounts receivable aging reportThis critical report allows you to carefully analyze the financial reliability of your customers. If one company is consistently late paying invoices, it should send out a warning flag that there is a possibility they are not succeeding in meeting their business goals. This could make them a potentially bad credit risk and therefore a bad account to work with.

To successfully meet monthly operating costs you need a steady revenue stream, and an accounts receivable aging report will show which companies are making regular, on-time payments. Without this information, it will be difficult to maintain a healthy cash flow if you are always worried about late payment on outstanding invoices.

Once you are able to assess which accounts constantly pay late, you can evaluate payment terms with your suppliers and make changes accordingly. For example if a customer consistently pays 5 days later than the payment terms agreed upon, and you have historically accepted the late payment, but your suppliers need payment earlier, you will eventually have problems making payments to your suppliers and jeopardize that relationship. This, in turn, could result in loss of customers, as suppliers lose faith in your company’s ability to pay bills in a timely fashion.

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Topics: Cash Flow Solution, Factoring Accounts Receivable, Financing Government Contractors

Have you Noticed A Continuing Slow Payment Trend?

Posted by Seth Herman on Fri, Mar 28, 2014 @ 07:55 AM

Building upon recent posts concerning cash flow, it seems that many companies are still taking longer than ever to pay their invoices. This is a dilemma for small businesses waiting on invoice payment to effectively cover operating costs.

Even though the economy is slowly recovering, many large corporations are still pushing smaller suppliers into long payment cycles of up to 90 days, threatening to back out of deals or find new sources if their demand for a 90 day payment cycle is not accepted. This can simply not be viable for some small businesses that do not have the sway to delay payment to their suppliers.

 Before we launch into the benefits of factoring your accounts receivables, let’s revisit a few ideas that may help the payment process along.

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Topics: About Invoice Factoring, Purchase Order Financing, Financing Government Contractors

Factoring your Cash Flow

Posted by Gil Oliva on Wed, Mar 26, 2014 @ 08:06 AM

Eliminating a Cash Flow Crisis – How Invoice Factoring can Help

Invoice factoring is a highly effective tool when it comes to helping with cash flow management. However it is essential that the cash flow cycle for your company, and your industry, is evaluated and understood.

We all know that monitoring cash flow is critical for success. Once cash flow is managed, decisions can be made about whether or not invoice factoring is the most effective answer to help your business achieve optimum cash flow goals.

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Topics: About Invoice Factoring, Financing Government Contractors

Low Rates, Fast Cash, and Excellent Customer Service - The Invoice Factoring Trifecta

Posted by Steve Barthol on Fri, Mar 14, 2014 @ 07:48 AM

Are you paying too much for invoice factoring?

How would you know? Read on to make sure you are accessing your working capital for the lowest rates, while also receiving fast turnaround and great customer service.

There is often a collective sigh of relief when your company makes the decision to factor accounts receivables. The forms have been submitted and accepted, and the factoring process seems to be going as planned. Working capital is rolling in ahead of time, allowing you to keep up with payments on your day-day operations. However, the ability to feel in control of bill payment can often override the fact that you may well be paying too much for factoring, receiving slow service, and a mediocre customer experience.

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Topics: About Invoice Factoring, Financing Government Contractors

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, About Invoice Factoring, Financing Government Contractors

Government Contractors – SBA Provides a Great Learning Opportunity!

Posted by Aaron Zahedani on Wed, Mar 05, 2014 @ 08:00 AM

Consider the fact that the federal government buys close to $100 billion worth of goods and services just from small businesses every year! It may be time to brush up on the skills required to win a contract from the federal government.

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Topics: Government Contract Financing, Financing Government Contractors

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