Invoice Factoring for Cable Installers
Is Invoice Factoring the right choice for your business?
If you are working as an independent contractor, a cable installer or if you are installing satellite dishes, you are in an industry that is very labor intense. As a cable installer you most likely have high business expenses with labor, parts, vehicle, insurance and gas, to name a few. Depending on your located and who your customers are, you might be waiting up to 60 days to get paid, waiting 30 days to get paid is difficult enough. If slow paying customers is making if difficult to grow your business, then invoice factoring might be right for you.
Have you explored invoice factoring?
Factoring for cable installers is no different than any other industry. The purpose of factoring is to expedite your payments. You provide a service and sometimes products when doing an install, once the job is complete you then invoice your customer and wait to get paid in 30, 60 or even 90 days. Rather than waiting to get paid you can sell us the invoice, after your have rendered your services and we will advance you the money within 24 hours. After you sell us an invoice, we verify it for validity and then send you your money. Typically we advance you 85%of the face invoice amount and put the other 15% into your reserve account. Once we are paid on the invoice, we send you back the reserve money, less the factoring fee. For more information about our factoring fee and advance rate, please go here
Cable Installers Factoring will give you the liquidity to run your business
The problem you are having is most likely due to cash flow. It does not matter if you just started a new business or if your business is growing. Money is always the problem. As a new business you probably will not qualify for a bank line of credit that can provide you with cash flow, if your business is growing the credit line will most likely not be high enough to meet all of your financial needs. Here is the question you should ask yourself… Would you be in a much better financial position if your customers paid you within one day of you completing a job? If so, invoice factoring is right for you. When you factor, you go to work today, invoice tomorrow and get paid the following day. If all of your customer were to pay you in one day, factoring would not exist. Let’s face it, if you had financial reserves for your business, you could tap into this money if/when it’s needed. If you are ready for financial freedom and a long term solution to financing your company that in most cases costs less than accepting credit cards then you should click here and apply today.