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While we offer invoice factoring and other cash flow solutions, we want to help your business succeed in any way we can. Knowledge is power, so here are a few articles we think you might find insightful.

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Top 4 Reasons Companies Choose to Factor Their Invoices

As customers take longer to pay, what can a business owner do to protect their company and the employees that work for them?

Businesses that sell to other businesses on trade terms often become a source of working capital for their own customers. These trade terms can be N30 but can also go up to N60, N75 or even longer, as companies are taking longer to pay their invoices.   The concept is fairly simple: invoice factoring allows business owners to finance their invoices, or accounts receivable, quickly turning their open receivables into cash almost immediately. Business owners receive an immediate injection of cash based upon the strength of the pending invoice payments from their customers.

Here are the Top 4 reasons to consider factoring your invoices today:

factoring business
Accelerate Cash Flow. Eliminate the stress of waiting for customers to pay 30, 60 or even 90 days later. Once you have established a relationship with a factoring partner, funds can be available the same day or within 24 hours. Use these funds to make payroll, hire new employees, accept new orders or take advantage of vendor discounts.
factoring business
Accept New Orders. Have a new opportunity that may be difficult to finance? Does your current bank line of credit limit how much you can borrow on your line with any one customer? Imagine being able to say “Yes” to your customer for that new large order or finance that one customer with a factor who works with your current banking relationship. What could you achieve? With factoring, you can do both.
factoring business
Gain Financial Freedom. Factoring is not a loan. The business is not incurring debt. As a business owner, you are not asked to give up equity. You can receive funding on the current open receivables based on your customers’ credit, not that of your business. This is particularly helpful to start-ups where the business operating history is not yet established. Plus, with receivables financing, there are often no financial covenants to maintain or restrictions on funds utilization. With factoring, you decide how to run your business.
factoring business
Overcome Financial Hurdles. Often times the hurdle being faced also comes with a need to move quickly. Unlike traditional bank lines of credit, factoring allows you to receive funds almost immediately. You can use these funds to refinance your existing bank line, meet payroll or other short term obligations, pay past due taxes, refinance a business partner, complete an acquisition and more. By gaining fast access to cash, you also gain access to more financial options.

Why not get the Allied team working for you? Call us toll free at 1-972-776-5300.

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