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How Factoring Companies Help Staffing Agencies

It is not uncommon for staffing agencies to experience working capital challenges, especially with weekly payroll. Invoices can take up to 90 days to be paid, all the while you still have to pay your staffing payroll on time. Whether you specialize in short and long-term temp work, or professional recruiting, there are going to be times when the amount of cash coming in is not able to cover what has to go out. These issues are relevant no matter what industry your staffing firm represents from janitorial to nursing, to security guards to teachers. What Mistakes Do Staffing Agencies Make ... Read More

What Does Cash Against Documents Mean?

Who Benefits From Cash Against Documents (CAD) Transactions? International trade can be a tricky business on both sides of the border. Straight credit is ideal but usually impossible to obtain when trying to purchase goods from an overseas exporter. Cash Against Documents (CAD) financing is the solution that helps ensure that exporters get their money on time. At the same time, this also helps importers get the goods that they need for their business. What does Cash Against Documents Mean? Simply put, CAD financing is a method in which an importer pays for goods before receiving them. To ensure satisfaction of ... Read More

What is Merchant Cash Advance Consolidation?

Is a Merchant Cash Advance Consolidation the Answer to Your Business Cash Flow Issues? It starts with a small merchant cash advance, which leads to another and then another. All that until before you realize it, all of your business credit card sales are going towards paying off these debts. This practice of stacking merchant cash advance loans – or ACH – can quickly put your business into a downward spiral. One solution to help you get out of this cycle of business debt is a merchant cash advance consolidation. What is a Merchant Cash Advance? A business in need ... Read More

The Top 5 Business Challenges in 2016

Fear is dominant in today’s economy; from the volatility of the stock market to unknown/unwanted rules and regulations pouring down. From the federal government to oil prices unexpectedly plunging, to the possibility of yet another recession around the corner. This can be debilitating and makes running your business that much more challenging. The best thing to combat fear is education. Additionally, in positioning yourself to be smart and ahead of the curve with your business in 2016 and beyond. 1. Government Risk & Regulations Running a profitable small business is hard enough, now add the ever-increasing government regulations that are ... Read More

How to Get a Business Loan with Bad Credit

Your personal and business credit history is less than stellar. In fact, it’s just plain bad, at the same time your business needs financing for working capital. Your customers tend to pay their invoices slowly and you’re desperate for a bank loan. Business owners find themselves in this challenge for a broad range of reasons. You already know bank loans are not a possibility because lenders look to your profitability, cash flow, and credit history when applying for a loan. The good news is there is affordable working capital available to businesses with bad credit. Even With Bad Credit, You Can Obtain ... Read More

Top 5 Accounts Receivable Factoring Questions Answered

It is not easy to make the perfect funding choice for your business. Getting financial assistance is one of the most important choices you make as a small business owner. It is essential to consider all the pros and cons. Also, how it applies to your unique industry and financial situation. Here are the top 5 questions we get regarding Accounts Receivable Factoring: #5. How does AR Factoring Rates compare to MCA/ACH? A Merchant Cash Advance (MCA) or ACH loan much like Factoring is considered a short-term alternative financing option. While getting an MCA or ACH loan is often considered easier ... Read More

If You Import Goods, You Need to Understand The Cash Against Documents Process

If your company imports finished products, raw materials, or components into the U.S., you need to know about the Cash Against Documents (CAD) payment method. CAD is a process in which an importing firm must pay for goods it purchases in full before it takes ownership of those goods. The transaction typically involves a third party that retains possession of the shipping papers. Said third part will hold the items until the payment from the buyer is received. In recent years, Cash Against Documents transactions has been particularly important. Especially in importing goods from China, a significant trading partner of ... Read More

How to Choose a Large, Full-Service Factoring Companies

If you’re a small business owner, your need for cash to meet working capital requirements is typically top-of-mind. When you use factoring to meet those requirements, you should consider the benefits of working with large. Aside from that, also consider the full-service factoring companies as opposed to a smaller, more limited factor. The evidence is clear that larger factoring firms, with greater financial resources and higher credit standing. Typically, firms provide both a broader array of services for clients as well as outstanding customer service. What Large Factoring Companies Provide A large, full-service factoring firm will do a full-scale credit ... Read More

The Slippery Slope of the ACH Loan Industry

Merchant cash advance (MCA) and small business ACH loan companies are currently funding $3-5 billion a year. They have a potential for $300 billion per year predict Tom Green of LendingClub. Private and publicly traded MCA companies such as OnDeck and IOU Central have become a dumping ground for Private Equity and Hedge Funds enticed by their high theoretical yields. Businesses are snatching up advances like candy and MCA/ACH companies are more than happy to oblige with astronomical fees. Steve Nicastro of NerdWallet wrote, “Total annual borrowing cost with all fees and interest included, typically ranges from 70% to 350%.” If you ... Read More

Top 5 Myths Lenders Have About the IRS

Myth 1: If no federal tax lien has been filed, my collateral is safe. Seizure of your collateral is possible even without notice. Many lenders don’t realize that the IRS doesn’t have to file a lien to issue a levy against your collateral. In fact, less than 40% of IRS liabilities currently have liens filed in the public record. Using public records search to assess your risk is understandable, but not nearly enough to protect you from your true IRS risk. The bottom line is, there is no protection unless you know for sure that your client doesn’t have outstanding ... Read More

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