Don’t put off applying for business finance – time is critical
I guess a frustration for me and a frustration for our prospects/clients is business owners waiting till the last minute to apply for factoring to get them access to working capital.
All too often we have a potential client ring up and ask if they can get money against their invoices in a few days. I even recall some transport business owners thinking that if they applied today they would have their business funded tomorrow, and then they ask “why not!!”.
Another common scenario we have is a client who completes all the documentation and can be funded once they follow a couple of simple steps, we then don’t hear from them for a number of weeks, sometimes months and we have reminded them of what needs to be done until finally we get a frantic phone call asking “how come I can’t get some money I am desperate for money, I thought you said 24 hours!”…I think the scouts saying goes “be prepared”?
Small business owners are busy people; however when you see a cash flow problems or are suffering from not having enough working capital available to take on that new order don’t wait till the last minute to get organised. Factoring is simple, easy and fast to setup and you’re on your way to getting paid for those invoices in 24 hours by the factor instead of 30-60 days from your customer.
Be organised, prepared, reduce your stress levels and work with the factoring company.