Invoice Factoring 101
Welcome! Here you’ll find useful tips and advice from industry experts looking to help solve your company’s cash flow needs.
Don’t Sign an Invoice Factoring Contract Without Asking These Questions
As we’ve discussed in previous blog posts, invoice factoring is a type of accounts receivable financing that converts outstanding invoices — due within 90 days — into immediate cash for your small business. But before you sign any type of contract or agreement for an invoice advance loan, it’s essential to ask the right questions […]
What Small Businesses Should Know About the Invoice Factoring Application Process
Working with commercial invoice factoring companies has numerous benefits and can provide near immediate cash flow for your business. In fact, factoring companies can help small businesses bridge invoice payment gaps with upfront payments, providing nearly all of the original invoice amount. That money is then immediately available for you to use to fund your […]
How to Know if Your Small Business Has ‘Bad Debt’
Economies are unpredictable and demand for certain products or services ebbs and flows depending on any number of reasons. Bankruptcies in the U.S. increased to 25,227 companies in the second quarter of 2016 alone. It’s important to stay on top of corporate finances, especially in the early stages of business development and avoid ‘bad debt.’ […]
Tired of Late Invoice Payments? These Strategies Can Help
It may sound shocking, but it’s true: Nearly 60 percent of invoices are paid late. Considering the fact that small businesses (defined as businesses with fewer than 500 employees) account for 99.7 percent of all business in the United States, late invoices are often a sign of a bigger financial issue. Invoice payment and collections […]
Exploring Common Small Business Cash Flow Problems (And Their Best Solutions)
Small businesses (defined as businesses with fewer than 500 employees) account for 99.7 percent of all business in the United States, making them a fundamental part of the economy. But anyone who’s ever owned a small business can tell you that it’s not always easy to stay afloat when it comes to competition and cash […]
3 Ways Invoice Factoring Will Affect (Help!) Your Credit Score
Your business credit score is something that can have a huge impact on how you’re perceived by your customers, competitors, and potential lenders and investors. The higher your score is, the more credible and trustworthy you’ll seem. Invoice factoring is a form of business financing that can impact your credit score. At Triumph Business Capital, […]
Choosing an Invoice Factoring Company for your Trucking Business? Keep These Tips in Mind
Nearly 12 million trucks, rail cars, locomotives, and vessels move goods over the transportation network. Commercial transportation requires a great amount of attention to detail, which is just one reason so many professionals have been relying on services from transportation factoring companies and other types of small business factoring. Invoice factoring is a type of […]
7 Tips to Help You Thrive as a Trucking Owner-Operator in 2019
As a trucking owner-operator, you know that running a successful business requires you to wear many hats. You’ve got to be thinking about everything from gas mileage to depreciation to cash flow. The new year is here, and that means this is a good time to look to the year ahead and think about what […]
Triumph Business Capital’s Complete Guide to Freight Bill Factoring
Is cash flow an issue for your trucking business? If so, you should consider freight bill factoring. You need funds to pay expenses and grow your business, and you can’t always afford to wait 30, 60, or even 90 days for customers to pay. Fortunately, invoice factoring can help bridge the gap between when you […]
Freight Factoring 101: How Does Freight Factoring Work?
Owning and managing a freight company isn’t easy. In the course of the day, you may wear many different hats: owner, manager, accountant, marketer, and human resources manager, to name a few. And when you’re juggling so many things, it’s easy to let something important slip through the cracks. That’s where freight factoring comes in. […]
New to Invoice Factoring? Avoid These Common Mistakes
It’s been estimated that if all invoices were paid on time, U.S. small businesses could collectively hire 2.1 million more employees, which would reduce unemployment by 27 percent. That’s just one reason why more and more businesses are working with invoice and freight bill factoring services. But before you decide whether this service is right […]
Don’t Fall for These Myths About Business Invoice Factoring
There are nearly 28 million small businesses in the U.S., and in today’s uncertain economic climate, many small businesses struggle to stay afloat as a result of insufficient funds. In fact, according to a U.S. Bank study, 82 percent of businesses that fail do so because of cash flow problems. For many small businesses, however, […]
3 Quick Ways to Increase Cash Flow
Cash is king. You know this as well as anyone else. Without cash, you can find yourself in some pretty uncomfortable situations, like not having enough money for payroll, or making late payments to vendors and bill collectors. So what can you do to manage your cash flow effectively? Let’s take a look at three […]
Debt Collection vs. Invoice Factoring: What’s The Difference?
It’s not only been days, but weeks—or even months—since you performed work for your client, and you still haven’t received payment. Sound familiar? As a professional, you need to be paid on time. You’ve got people to support and bills to pay. You may be considering using a debt collector to secure payment from your […]
Get Paid On Time While Maintaining Business Relationships
Let’s face it, money can get in the way of any relationship, whether business or personal. And small or mid-size business owners like you never want to compromise relationships with customers or vendors. But without the funds to pay your bills on time, how can you avoid damaging your relationship with your vendors? And how […]
Cash Flow Gaps? Boost Your Bottom Line with Invoice Factoring
You’re running a small or mid-size business and that takes money—lots of it. But coming up with the capital you need, when you need it, can often pose significant challenges—like how to meet payroll, pay vendors, upgrade equipment . . . the list goes on and on. So how do you manage cash flow effectively? […]
How Much Does Invoice Factoring Cost?
Don’t you love that feeling—you know, the one you get when an invoice pays? With invoice factoring, you don’t even have to think about processing invoices, and you can forget about having to wait 30, 60, or 90 days to receive your client’s payment. You can actually get paid today. When calculating the cost of […]
Invoice Factoring vs. Traditional Bank Loan: What’s The Difference?
Invoice factoring and a bank loan have very little in common—other than the fact that both provide cash to small businesses. Here’s a simple factoring vs. bank loan comparison to help you decide which can work for your business. Invoice factoring With invoice factoring, you simply convert your invoices into immediate cash to cover operating […]
4 Funding Options for Your Small Business in 2018
What are some of the popular types of short-term funding available to small businesses? How can you fund your business? You’ve got questions; we’ve got answers! 1. Bootstrapping Bootstrapping is a funny word for a smart financial concept. The term comes from the phrase “pulling oneself up by one’s bootstraps.” An individual is said […]
The Ultimate List of Funding Options Every Small-Business Owner Should Know About
It’s a big world out there. We’re talking the world of funding for small- to medium-sized businesses. That’s why we’re giving you a bird’s-eye view of the available options—everything you need to know about funding your business. Invoice Factoring You may have heard of it; maybe you know a company or two that use it. […]
Is Invoice Factoring Right For You?
Invoice factoring is a saving grace for many industries, from transportation and staffing to small and mid-size businesses as well as government contractors. In fact, invoice factoring can offer welcome financial relief if you’re just starting a business, have bad credit, can’t get funding from banks, or are at risk of losing your business. A […]
4 Common Risks Associated with Factoring Your Invoices
Many businesses turn to Triumph business capital to get their invoices factored for relief from today’s financial pressures. Faster and easier than a bank loan, getting an invoice factored doesn’t rely on your credit or your years in operation. You simply convert your invoices into immediate cash to cover operating costs without taking on debt. In some […]
How to Avoid the Net-30 Trap and Actually Get Paid
It’s a headache and a hassle, and it causes complete confusion—It’s the Net-30 Trap. Does it mean you get paid 30 days from the date on the invoice, 30 days after the client bills their client, or within 30 days of what exactly? Do you get paid at all? What is net 30 anyway? It’s […]
Invoice Factoring: The Antidote for Net 30, 60, 90, or Never
You do the work, deliver the product or service, and wait. And wait. And wonder—will you get paid on time or have to make countless calls to get your money? Let’s face it. One of the biggest challenges facing small and mid-size businesses (SMB) is getting paid—especially since many companies are increasingly stretching invoice payment […]
To Sign or Not to Sign – This is THE Question
When did signatures become so important? If you were back in the year 1473 (Islamic calendar 877-878, Hebrew calendar 5233-5234), you would find it hard to find a writing implement to use, and it would probably be even harder to find actual paper on which to sign. We take these things for granted today, but […]
What is Non-Recourse Factoring?
You’re a small business owner and you need financing. The first stop is your local bank where you get the sympathetic shake of the head from the loan officer. “Sorry, we can’t help with a loan but how about a checking account?” A checking account isn’t going to cut it when you need cash for […]
Which is better — invoice factoring or a loan?
If you’re having trouble getting approved for a loan, you’re not alone. According to the 2014 Small Business Survey, 44 percent of firms who applied for loans failed to receive any credit. The biggest reasons? Low credit scores, insufficient collateral, and/or weak business performance. In recent years, it’s become more and more difficult for small […]
Invoice Factoring vs. Merchant Cash Advance
Which do you need in your corner? Back in high school and all of my college years, I was an amateur boxer with a real passion for the sport. Boxers function on muscle memory, which is why professionals like Manny Pacquiao are able to throw over a thousand punches in a single match. But the […]
The Payroll Problem
Spend less time stressing about making payroll, and more time working on your business. In February of 2012, when I was eight months pregnant, my husband’s employer filed for Chapter 11 Bankruptcy. We lost our health insurance (even though we had been paying the premiums), and my husband’s bonuses and vacation pay (even though he […]
Recession-Proofing Your Business with Invoice Factoring
My first cousin, James is a long-haul trucker based out of Pennsylvania, and every time he comes through my hometown of Dallas, I meet him at a Denny’s and offer to buy him breakfast. He never says no. It’s not just because James likes his grits (and he does like his grits). James has four […]
How Invoice Factoring can Improve Cash Flow Forecasting
When I tell people that I’m self-employed and I work from home, I know what they’re thinking. “Work from home? Yeah, right. She probably spends her day scanning Facebook, taking naps and doing laundry.” That is so ridiculous. I don’t do laundry. Kidding — but it is frustrating when people don’t take you seriously just […]
How Can Invoice Factoring Affect Your Credit Score?
“Sir,” I said, “I drive a paid-off Honda Accord. I pay all my bills on time. And my house will be paid off in three months. How could I be more credit-worthy?” At 34 years old, I applied for a loan to purchase an investment property with 25% down, for a real estate business I […]
5 Tips for Negotiating an Invoice Factoring Contract
The best factoring companies have your best interests in mind. Here’s how to select the right one for your business. I was perfectly happy with my streaming Internet service until a few months ago, when a lady on the phone called and convinced me to sign a two-year contract inviting cable back into my life. […]
What You Need to Know
How Can Your Small Business Pick Up Momentum This Year?July 2, 2019 - 1:35 pm
Dos and Don’ts to Keep in Mind When Choosing the Right Factoring CompanyJune 28, 2019 - 3:00 pm
What Entrepreneurs Should Know About Invoice FactoringJune 24, 2019 - 8:00 pm
Invoice Factoring: A Beginner’s FAQJune 21, 2019 - 1:51 pm