Paragon Financial Group is funding during the COVID-19 crisis.

Receivables Funding: A Foolproof Way To Grow Your Construction Supply Company

A Foolproof Way To Grow Your Construction Supply CompanyThere are few things that are foolproof in business. When a company owner or manager discovers something that is, it is very important that they take note of it and use it to their advantage. Receivables funding is one of those things. It is a great way for a construction supply company (and many other types of companies in a variety of industries) to build their business.

Receivables funding can provide construction supply companies with the money they need to purchase supplies and pay for operational and fixed expenses. If this type of business is in a cash crunch, it may be difficult for them to buy supplies to resell. When this occurs, they are not able to make any money, which worsens their cash crisis.

The primary way that a construction supply company might get needed monies when they don’t have them on hand is to take out a loan. This generally takes the form of a bank loan. Until recently, a company with good credit could count on a bank loan as a reliable source of cash. That has changed a good deal.

Today, it is extremely difficult for businesses, even those with good credit, to obtain a loan. This has left many companies reeling, many struggling to stay in business and successfully manage their cash flow problems. One way that is becoming much more popular as companies begin to become aware of it is an option, is receivables funding.

Receivables funding is one of the most simple and quickest ways for a company to receive cash. This type of financing does not require a loan. In fact, a business only has to leverage existing business to generate cash. This allows them to receive the money from their invoice without having to wait for them to be paid.

factoring company will purchase a company’s invoices at a discounted rate, typically between 70%-90%. A business can use these monies for whatever they want. A construction supply company may want to buy supplies to sell to their customers. They might also choose to pay rent, bills, fixed expenses or to get themselves out of a cash crisis.

Cash flow problems are something that many companies will be forced to deal with from time to time. It is an inevitable part of doing business. In today’s economy, it is becoming even more problematic. Because businesses are not able to receive the money they need to function from customers alone, it is necessary for them to generate cash in other ways.

For many businesses, this is through a bank loan. However, because these are becoming more difficult to obtain, companies have no choice but to look into other options. Receivables funding is one of the very best ways to quickly infuse cash into a business without relying on debt.

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Receivables Funding: A Foolproof Way To Grow Your Construction Supply Company

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