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Invoice Factoring accelerates your business’ accounts process by providing you immediate access to outstanding funds tied up in accounts receivable before they’re due. There is a myriad of benefits that this provides your business.
Unlike traditional finance, Invoice Factoring, a form of alternative financing, allows you access to money owed to you when you need it most. While traditional financial institutions extend a line of credit to your business based on the aggregate of your historical accounts receivable, Invoice Factoring allows you to make use of income tied up within your accounts receivables.
Cashflow bottlenecks, such as extended payment terms, can bring your business to a standstill. When your client has extended payment terms on their account, they’re essentially using your business as a bank, with their terms working like a credit facility.
To completely eradicate this issue, EBF purchases your outstanding accounts receivable, providing you with a large percentage of the outstanding amount upfront. Once your customer has settled their account, EBF pays the remaining balance to you, less our fees.
Invoice Factoring provides several benefits to our customers, including improved cash flow, reduced risk, and increased flexibility.
One of the mot significant benefits of invoice factoring is that it improves cash flow by providing immediate cash for outstanding invoices. This can help companies cover expenses and invest in growth opportunities without waiting for customers to pay.
Factoring can also reduce risk by transferring the responsibility of collecting payments from the company to the factor. While EBF customers retain the right to collect payment from their customers, should they wish, we can assist your business in this regard. This frees up time and resources for the company to focus on other areas of the business.
Finally, factoring provides increased flexibility by offering a scalable solution for managing cash flow. Companies can choose which invoices to factor, and they can increase or decrease the amount of financing based on their needs.
Overall, invoice factoring can be a valuable financial tool for companies looking to improve their cash flow and manage their risk.
If you have outstanding accounts receivables and a need for increased liquidity, Invoice Factoring will likely work for you.
Whether you are experiencing rapid growth and need to access working capital to maintain expansion or need access to capital that your traditional line of credit cannot provide, you should chat with one of our Account Managers.
The flexibility of the EBF team allows us to tailor a solution to any business in almost any industry. This means that the successful integration of Invoice Factoring into your business is not linked to your niche, but rather your needs.
There are several ways that we can make Invoice Factoring work for you: if you would like to know if we have a solution to fit your needs, simply get in touch with us.
The structure of the Invoice Factoring solution that we offer to your business will be greatly dependent on many factors, and perhaps the most important factor is the industry in which your business operates. We have worked across a myriad of industries in our two decades of operation – these are just a few that you can find us in:
- Payroll/ Staffing
- Transportation
- Construction
- Manufacturing/ Production
- Telecommunications
- Oil & Gas
- Storage
These are just a few of the industries that we have assisted. If you do not see your industry here, you are welcome to chat with one of our Account Managers to identify whether we can assist you.
