.4 million invoice factoring agreement with a maintenance contractor servicing utility companies. The maintenance and utility company entering into the accounts receivable financing agreement is a 100% minority-owned business located in Savannah, Georgia. It provides medium and high voltage underground and overhead cable to the maintenance and utilities industry.
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(PRWEB) September 9, 2004

For many years, clothing manufacturers and staffing agencies have used factoring as an integral part of their business model, now other companies in various industries, are realizing the benefits of using factoring to increase revenues and cushion yearly business cycles. Bill Hansen, CEO of BookCliff (a factoring firm) stated, “Factoring is an art. Every company is different, and every company needs an artisan to create the right financing package for their individual needs. We have seen companies from many different industries including, staffing firms, manufacturing companies, service oriented companies, and companies that are simply seeking growth or expansion, use our factoring services.”

Hansen continued, “Factoring is no longer just a tool utilized by the Big Boys, smaller to midsize companies are now realizing the benefits of receiving their cash now verses waiting for 30-90 days.” When companies need cash to grow where do they go? Banks are usually the first stop, when they say, “No you haven’t been in business long enough,” where do these companies go? Hansen says, “Our biggest push is to educate people, most companies don’t even know the option of factoring is available.” Although the concept has been around for thousands of years people are just now grasping the idea of using it in their time of need.

Cash flow problems due to business cycles can devastate undercapitalized companies and firms. Factoring provides a nice balance during a cash flow crunch that could otherwise lead to a stressful situation. Bill Hansen also commented that, “When we finance a deal and provide factoring as a service, our main questions to the borrower are, ‘How is your business currently financed? And, are your clients creditworthy?’ When these two questions are reasonably answered then we can usually provide funding within a couple of weeks.”

Factoring, as a business, is defined as: the purchasing accounts receivable from business to business, or business to government, for services rendered in the past, for a fee. Companies with legitimate accounts receivable and creditworthy customers, qualify for factoring services. Finding the right “Factor” that you can trust can be tricky. A couple of suggestions may help: 1. Track Record, ask your factor about previous deals he or she has factored in the past. 2. Service, this would include receivable management, credit protection, and collection of the receivables, this is what sets a factor aside from a bank. You really are getting a threefold service for a fee.

About BookCliff

Founded in 1996 by factoring specialist, Bill Hansen, out of St. George, Utah. Hansen dominated the web in the mid 90Â’s; Bill Hansen pioneered factoring through pay per click advertising and banner ads. Today he continues to factor deals while speaking to those that are trying to master the art of factoring. Hansen goes out and speaks twice a month at prearranged seminars on the art of factoring, and how individuals can become consultants and be a successful business owner. BookCliff has rewritten the rules of business finance with their creative finance options.

Contact Information:

Bill Hansen

435-673-4671

More Factoring Agency Press Releases

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Is Receivable Factoring For You? The key to knowing if receivable factoring is for you is to not to look only at the bottom-line factoring fee, but also to consider how your company may increase it’s profits through factoring. Here is additional information on accounts receivable factoring to help you with your decision. How are fees and advance rates determined? It is based on several factors: The creditworthiness of your clients Your monthly billing volume Average invoice size Average days to payment Fees can range from 2-5 % of the invoice’s face value. For example if the invoice’s value is 00; a fee of 3% equals . What is an accounts receivable factoring advance? The amount of money you receive immediately when we buy your invoice. The balance is returned to you when your customer pays the invoice. Advances range from 60-95% of the invoice’s face value. For example if the invoice’s value is 00 an advance rate of 80% equals 0. The balance of 0 less the factoring fee is returned to you when your customer pays the invoice.

www.ifgnetwork.com Many businesses have not survived the economy — but other established businesses with at least 000 per month in revenues have started using accounts receivables factoring to pay bills, employees and grow.

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See how to create an Aged Accounts Receivable Report using a Pivot Table PivotTable and Grouping.

The Accounts Receivable screen shows money owed to the business unit. The screen has 2 separate pages. The scheduled page shows entries that are generated automatically from tenancy agreements. The unscheduled page allows you to record other income. click on the New link at the top of the payments table to create an entry. Enter the date that the payment became due. Next select a property and payment type for the income. The debit/credit values update automatically based on the rules defined on the Payment rules page. Press the paid button to record payment of the amount. Scheduled receivables are created by pressing the “Update list” button. Visulate reads all of the active tenancy agreements for the selected business unit and creates accounts receivable rows based on the terms of each agreement. The update list feature has an associated date field which allows you specify the effective date for the generated list. It defaults to today’s date but you can override that and specify your own date. Click the Late fees check box to generate late fees for tenants as of the effective date. Leave it unchecked to generate rent due without late fees. The payment from field provides a description of the entry as a hypertext link. Clicking on it takes you to the tenancy agreement details. Press the paid button followed by Save to record AR payments. you can also record partial payments. Visulate will generate a separate row for the remaining amount. You can undo a payment by …
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www.ifgnetwork.com Accounts receivable factoring is a discounted purchase price for existing accounts receivable for B2B companies.
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Introduction to Accounts Receivable
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Dramatically increase your collections and reduce your stress. In a shortened version of material available in his Warner Business Books Publication, Running A 21st Century Small Business, businessman, author, Randy W. Kirk JD give some of his recommended do’s and don’t's of accounts receivable collections. With over 35 years experience collecting from companies large and small, Kirk offers advice learned in the trenches, not from a classroom. You can find his book at Amazon.com where there are a number of consumer reviews of the book resulting in a 5 star rating. Inc Magazine called an earlier version of this book “One of the three best business books” of that year. You can reach Kirk for consultation on all matters related to running a small business by emailing at RandyKirk77@Gmail.com or calling 310-920-9649. Based in West Los Angeles California. Marketing Consulting nationwide www.searchPage1.com

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www.creditandsales.com credit and collections complimentary resources to increase revenue, decrease costs and improve profitability. Bill Surman of Schumann and Company Endorses Davy Tyburski
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Financial Accounting SFCC Fall 2007
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Learn how to use accounts receivable in accounting at www.teachUcomp.com. A clip from Mastering Accounting Made Easy. www.teachucomp.com – the most comprehensive Introductory Accounting tutorial available. Visit us today!

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Course on Factoring Accounts Receivables by Marc Marin, Managing Director at Gateway Commercial Finance, LLC. www.Gatewaycfs.com
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Marc Marin of GatewayCFS.com in a video discussing how businesses can increase their cash flow and receive non-traditional financing through advanced funding against account receivables and invoices.
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In this video, Joe Biz a small business owner is turned down for a bank loan, but he needs cash for his business. Joe Biz uses Anchor Funding Services, a factoring company, to get cash for his accounts receivable.

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www.ifgnetwork.com Small business factoring is a discounted purchase price for existing accounts receivable for B2B companies.

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www.ifgnetwork.com – Invoice Factoring gets CASH for your invoices in 24 hours. Increase cash flow. Easy application process. No long term commitment. Most B2B business eligible. The perfect small business loan. Call 877.210.9748 Now.

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Technorati Tags: Accounts, Business, factoring, financing, invoice, loans, receivable, small

I pick up once a month for my client. Should they email or fax the invoice details? Should they continue to send out themselves using ms word then i input into the accounting system? Any ideas how other bookkeepers do the receivables would be appeciated, thanks.

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Benefits of Small Business Factoring

Looking for small business financing has always been a challenge for company owners. Even in good times, qualifying for the financing you need has been difficult. As a rule, most banks require that your company has a track record of success and they need a few years worth of financial history.

Most importantly, institutions want to make sure you have collateral – things like equipment and real estate – to back your business loan. Because of this, many industries with no hard assets such as staffing and consulting have a hard time obtaining business loans.

There are others form of financing that can help business owners – at least in some specific situations. One form of financing that has been gaining traction in the past few years is invoice factoring. It can be an ideal solution for companies that are waiting 30 to 60 days to get their invoices paid, but need the money sooner.

For example, let’s say that a staffing agency invoices $200,000 to a client that will be pay in 45 days. In the meantime, the agency needs to pay employee salaries every two weeks. If the company does not have enough capital to pay employees while waiting to get paid, then it will run into problems. In this case, a solution is to get an advance on the invoice by factoring it.

In a factoring transaction, the factoring company advances funds against an invoice. The advance is usually 70% to 90% of the invoices and varies by industry. The advance provides working capital that enables the owners to meet payroll and other business expenses. Once your client pays the invoice in full, you get the remaining funds, less the factoring fee. The fee varies based on a number of parameters but can range from 1.5% to 4.0% for an invoice payable in 30 days.

Qualifying for accounts receivable factoring is relatively easy, when compared to other business financing products. To qualify, the company must be in good standing, free of any liens and have a roster of good paying customers. Factoring companies consider your invoices to be your biggest asset and are very happy to use those as collateral. That makes their services accessible to companies of all sizes, including startups. More importantly, it provides funds to companies whose biggest assets are a good reputation and a list of solid clients.

Author: Marco Terry

About Commercial Capital LLC

Commercial capital is a leading factoring company and provider of invoice factoring. For more information about factoring, please call (877) 300 3258.

Article Source: http://EzineArticles.com/?expert=Marco_Terry

Learn About Construction Factoring

Compared to bank financing, construction factoring is easy to set up and obtain.Furthermore, few of them can really qualify for a business loan. However, factoring provides with an alternative business financing option to help

Trade Financing – How Trade Finance Can Help Your Company

The first tool is called factoring financing. The second one is called purchase order financing. Factoring Financing Factoring is an ideal financing tool for companies that can’t afford to wait up to 60 days to get paid by clients.

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Invoice Factoring As A Short-Term Cash Flow Solution

 by: Henry Byers 68c

Invoice factoring refers to the practice where smaller companies sell invoices in order to receive money today. IN this case they do not have to wait for a credit period of 30, 60, or 90 days. Thus by selling invoices smaller companies do not create debt. This practice of invoice factoring is basically used as a finance management tool.

This practice of invoice factoring is usually adopted to avoid any loans or giving any collateral against availing any loan. The fee for invoice factoring is paid in terms of discount. This discount can ranger anywhere between 2.5% to 7%. As a result of invoice factoring the smaller companies avoid exhibiting any loans on their balance sheets plus they also do not have to pay any interest for the money taken. This results in better profit figures.

Various agencies also help small companies in invoice factoring. These agencies set up the company with the right factor for a particular factoring situation. If someone has an invoice or any receivable to be factored then these agencies come out to help in the same.

These agencies help the manufacturers, distributors, importers, exporters, wholesalers, contractors, suppliers etc equivocally. They also help truckers in construction invoice factoring. These agencies help to locate best factor for a particular situation within the area or can also help to choose from nationwide factoring companies to avail the best rates. They usually customized solution as per the clients need. To avail the services of such companies firstly a form needs to be filled out stating the type of receivables and other details required for invoice factoring. Then these companies approach the probable paying parties that avail invoice factoring. Some of these agencies assume the risk in the deal for non-recourse factoring where the client is not required to pay back.

There are different types of companies with different types of rates for factoring. Any invoices or receivables to the amount of $100,000 can be factored immediately. The average rate payable for discount in such cases is 2-5%.

Some agencies specialize for a certain category of invoice factoring. For example, some agencies indulge only in invoice factoring for medical industry. Some agencies, which cater to small and medium businesses for invoice factoring, create invoices online and receive immediate funding. They usually give a 24 hours turnaround. Other types of agencies also give funds to small businesses for their day to day operations against collateral of their invoice or purchase order. These kinds of agencies also buy mortgage notes, structured settlement annuity or medical receivables.

About The Author

Henry Byers, Retired Accountant and Receivable Factoring advisor at eCPA Group LLC ( http://www.invoice-factoring-hq.com ) publishes other articles related to Receivable Factoring at http://www.accounts-receivables-factoring.info and http://www.factoring-invoice.info.

This article was posted on January 18, 2006..

The Canada Small Business Financing Program | Free For Loan

A Good Deal for Financing New Businesses & Established Ones, Too By Susan Ward, About.com Finding small business financing can be tough, especially if.

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Avast! has a free home version, a desktop version, a small business version, and a professional version. They also have a Mac version. They claim 80 million users and they have been voted a “Best Bet” by PCMagazine. power on

Small Business Finance

It is difficult for businessmen to concentrate towards the growth of his business if he is short of finances. Also financial help is a must for people who want to start their own business. Small business finance helps you with all your ….

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