To Small Van Courier providing deliveries in Ireland.
To Small fashion importer and exporter
A good business professional knows that his biggest strength is in understanding his options. You can do your best to forge ahead and create a successful business, but you will come across challenges that will require you to exploit your options. If you have no idea what those options are, then you could be out of luck. In the UK, the pace of business moves very quickly and it can be easy to get left behind. Financing is what makes a company run and a successful business owner needs to take a long look at his financing options if he wants to be able to get out of any circumstance.
The first financing option that a company has is its own cash flow. But the sales ledger is balanced on one side by outstanding receivables, and on the other by past due invoices. In the middle are the customers who pay on time and provide your company with the cash it needs. When that fails, a popular funding option is bank lending. But when you really look at what bank lending has to offer, you quickly realize that the bank is getting more out of the financing than you are. When the bank is no longer a viable option, then it is time to look at factoring.
Factoring is a financial service that utilizes the strength of your sales ledger in your favour. 1st Commercial Credit is a factor that has been in business for a very long time and we have a long list of satisfied clients from all over the world. We find that our services are best used on an ongoing basis, but we do not dictate to our clients how they should put our factoring services to work. We are ready to create a customized plan for your company that can meet your immediate financial needs and provide you with the kind of ongoing funding you need for the future.
1st Commercial Credit has a variety of factoring services that can be used to improve your organisation’s financial foundation and develop a reliable cash flow. We will advance you cash by using your receivables as collateral. This process allows us to create a sustainable business line of credit that you can draw from whenever you want. It only takes a few moments to apply for an account and we have approved accounts set up in a matter of days. Our services also include many industry-specific features such as special deals for our trucking clients and freight carriers.
The key to a strong cash flow is the ability of your company to collect on receivables. But when your customers do not cooperate, then you need to explore those options that we discussed earlier. Bank lending is expensive and inefficient. Between interest debt and service charges, you will wind up inflating your debt and paying more than you ever expected. It can also take a bank weeks to make up their mind about whether or not you qualify for funding. By the time the bank tells you that you only qualify for a portion of the funding you need, your payroll is late and your vendors are calling looking for payment.
1st Commercial Credit eliminates the need for bank funding by replacing it with your own invoiced sales. We are a factor that is able to look at your sales ledger and turn that ledger into a way for your company to meet all of its obligations. If you have more than enough receivables to meet your ongoing financial needs but late-paying clients are making the situation difficult, then you are the perfect candidate for factoring. 1st Commercial Credit will put a program in place that will quickly turn those receivables into cash and sustain your company’s financial foundation. We will work with you to establish the criteria used to approve receivables for factoring and then get to work in supplying your company with the kind of funding it needs on a regular basis. We have years of experience working with customers in a variety of industries and we have the solution for your organization.
To this point, a strong case has been created for partnering with a factor and utilizing invoice discounting to create a sustainable cash flow. But what would that really do for your company? What is the purpose of creating a sustainable cash flow? Think of every growth project you have ever wanted to do and then think of why you have been unable to get those projects started. More than likely, the reason you have not been able to attend to the growth of your company is because you are struggling to pay your bills. You do not want to take on major funding for a project because it is risky and you do not want to think about the consequences of not being able to pay it back.
Now look at your sales ledger and the balance of your receivables. Your sales professionals have worked hard to drive revenue and it is represented in those invoices on the ledger. But your customers are not holding up their end as they consistently pay their debts 30 to 90 days late. If you add up that missing cash flow, you will find the funding you need to meet all of your ongoing financial debts and finance corporate growth. The thing that is stunting the success of your organisation is your slow cash flow. Factoring puts an end to that issue and gives you the sustainable cash flow you need to look to the future.
Factoring is not something that you use once in a while to give you extra funds. It needs to become part of your corporate culture and something that your company learns to rely on. When you have a strong factor like 1st Commercial Credit in your corner, you can negotiate larger deals with your clients and know that you will get paid. If your client needs longer terms to be able to generate a significant purchase order, then you know that your factoring arrangement will make sure that the invoice becomes cash on or before the due date. This opens up completely new sales options for you and several new ways for generating revenue.
Your sales ledger should be a document that brings pride and satisfaction to your company. If your past due receivables are turning your sales ledger into a horror story, then you need to take action. As a worldwide premier factor, 1st Commercial Credit will work with you to develop invoice discounting programs that will solidify your cash flow and brighten your company’s outlook on the future. You can start to make growth plans that coincide with the milestones you had created in your original business plan and take your company to the next level. A strong cash flow is a business tool that any business owner would love to have. The funny thing is that a good cash position is within reach for any business that decides to make factoring a part of the way they do business. It is easy and it is a comprehensive way to meet the demands of your growing organisation.