Factoring and Business Resources for Springfield and Surrounding Areas.
Factoring can allow Springfield Businesses to decide themselves when they will get paid on invoices.
We try to provide a wide variety of information, links & resources for you the Springfield Area Businesses. We are not just here to offer factoring & purchase order funding. We are here to do whatever we can to help you succeed.
If you have a business in Springfield or the surrounding area we'd be happy to help you improve your cash flow with or without factoring.
There are hundreds of factors or factoring companies throughout the US and around the world.
If you'd like to see how many visit our Factors Directory.
We truly care about the small businesses in our communities and the communities themselves. See the difference.
We thank you for choosing to do business in the Springfield Area.
A factoring company is in the business of
helping businesses improve their cash flow for a small fee.
Similar to a credit card transaction
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We work with small & medium sized companies, helping with invoice factoring and related services. Our goal is too help you compete & grow, not close deals.
Using a factoring company can be an invaluable way to improve cash flow and obtain working capital.
Having said that, if factoring is not the most cost effective solution for your situation we prefer that you do not use this financial tool.
Factoring like accepting a credit card (credit card processing) is simply an advance on funds owed to you. If you sell
to Bass Pro, Wal-Mart or many others you realize just because you
delivered product or service doesn't mean the money is in your
account. That's where a factoring company can help.
While you wait on payment, your rent, utilities, insurance, payroll and all other expenses continue to come due. A factoring company can see that you receive those payments in a timely manner, allowing you to make your payments stress free.
By using a factoring company (accounts receivable finance) you can have that money in 24 hours. Helping you not only meet those obligations but may also allow you to take advantage of new opportunities.
How much more business could you take on if your cash flow was in high gear?
Factoring has a long tradition as being a superior tool to improve cash flow and otherwise obtaining working capital.
Many of your fellow businesses in Springfield and throughout Missouri have used factoring to improve their cash flow.
Although forms of invoice factoring may vary, factoring is generally not a loan, factoring is obtaining cash immediately for invoices not yet paid. Usually though a purchase and sale agreement.
You have undoubtedly seen various websites making claims of being the best, lowest cost or fastest source of factoring, credit card processing and such.
How can that be true?
At best only one can be the lowest card processor, factor etc. The truth is probably non of them are.
We've been running a long term experiment with a different kind of business model. One where we attempt to replace deceptive advertizing, manipulative sales tactics, caring about you only when it's best for our bottom line with something old.
For many years we have advised clients on how they can cut costs regardless of how adversely it affects our profits.
Whether its improving your cash flow by providing you with faster invoice payments or a superior credit card acceptance plan we are here to help.
We truly care about small business in the Springfield area and are willing to prove it.
As you are probably aware, factoring is the process of exchanging the value of an invoice for immediate cash.
Very similar to accepting a credit card (credit card processing, merchant services) where a merchant gains a cash advance from the credit card company for goods sold.
In either case invoice factoring or card processing a small fee is charged for the service.
For more information just give us a call.
Many industries are able to make use of factoring as a tool to improve cash flow. Many business to business transactions can be factored.
If its a staffing firm or employment agency factoring can provide the money to pay staff on Friday and the factoring company can wait on the contracting company to pay for services.
A transportation or trucking company can be paid today on a freight bill sot that fuel and other expenses can be paid as needed. Again the factoring company will wait on the payment for a small fee.
Construction and Healthcare factoring are somewhat different though.
Construction factoring being advanced on progress payments to subcontractors and healthcare being advances on medical receivables from third parties such as insurance companies or Medicaid to doctors, medical facilities, hospitals etc.
Accepting credit cards through your merchant account is called credit card processing or merchant services.
In many cases the contracts and cost structure of merchant accounts is more complex than factoring.
Whether this is intentional or not these complexities in credit card processing can cause a great deal of confusion and lead to higher processing costs for the merchant.
Marketing pieces offering "Low fees" are common. Even to the point of advertizing below cost rates. This can mask a higher monthly cost.
As business owners we are all well aware that we have to meet a certain profit margin to sustain our businesses. Below cost is in our opinion a deception because the your actual monthly credit card processing costs will likely be higher than the card processor that quotes you honestly.
In any event, although our job is to create a synergistic relationship between you and the factoring company, we are here to consult with you on your behalf. Not the lender...
* Credit Card Processing: In some cases such as when you are given higher end equipment at no charge a contract may be required to prevent potential losses. This can be eliminated by an equipment purchase from us or another source or choosing a lower cost piece of equipment.. Either way We're happy to assist and fully disclose the options.
** Factoring: In some industries it is customary for factoring companies to require a longer term contract due to the very nature of the asset and/or transaction (i.e. insurance paid healthcare). However we try to provide you with the lowest cost and most effective service without long term contracts. In our opinion if we or our underwriters are not performing you should be free to go.
Some of what we work with: Medical Factoring | Healthcare Factoring | Construction Factoring | Invoice Factoring | Staffing Factoring | Industrial Factoring | Import Factoring | Export Factoring | Recourse Factoring | Non Recourse Factoring | A/R Finance | Accounts Receivable Finance | Confidential Factoring | Purchase Order Finance | Purchase Order Funding | Letters of Credit