No doubt, getting cash is one of the most significant challenges that new businesses face. If you are dealing with this problem and have been wondering whether using Invoice Factoring for new businesses is a good idea, we have some answers for you.
With Factoring You Don’t Need an Extensive Credit History
The lack of an extensive credit history is one of the most common stumbling blocks for new businesses.
You know how it goes: since new businesses haven’t built yet a long credit history, banks won’t lend them money, trapping business owners in what feels like a stressful, endless cycle.
Factoring is the way out of this loop. With Factoring, your credit history plays a less relevant role than in other options, such as bank loans.
It makes sense: Factoring means selling something that belongs to you (your receivables), which is way easier than asking an institution to lend you money.
Factoring Is Fast and Convenient
When you start a new business, you have to make the most of the resources at your disposal. This means keeping things agile and steering clear of services riddled with hidden fees.
And while every Factoring company is different, ACS Factors offers all the convenience and flexibility you need to grow your business. Some of the advantages of choosing ACS Factors include:
- Approval in hours, not days or weeks
- No deposit or application fees
- No early termination fee–ever!
- No minimum
- No fee if you don’t factor
In short, Factoring is a quick and versatile solution for all the financing needs of a new business!
Factoring Helps You Build a Positive Credit History
Remember the negative cycle we mentioned earlier? No credit history means no loans, which in turn means no business growth. Factoring helps you break this cycle—for good.
How? It’s really simple: Factoring helps you build the positive credit history your business needs to secure other financing alternatives.
Having a solid cash flow through Factoring means that you are able to meet your obligations to creditors. Every payment adds up until you have a credit history robust enough to convince banks to lend you money.
This way you can access even more forms of financing you can use alongside Factoring to power your business as it grows and evolves.
Turn Your Invoices Into Immediate Cash With ACS Factors
At ACS Factors, our mission is to help you get the capital you need to move your business forward regardless of your industry or the size of your organization.
We are located in Upland, California, and have many clients in the distribution and logistics corridor which includes Ontario, Riverside, Fontana, Jurupa Valley, and Moreno Valley.
Reach out today by email (firstname.lastname@example.org) telephone (909-946-5599), or through our social media accounts on Facebook, Twitter, and YouTube, and start converting your accounts receivable into cash today!