Invoice Financing can greatly enhance your food service business and provide you with the capital to grow and propel your business forward to the next level.
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| Alternative Business Finance |
The food service industry is no exception. In fact the food service industry has a reputation for being difficult. Running a business and a kitchen can be likened to being in a military setting. Everything has to go just right in order for your business to prosper. This industry requires you to operate under pressure in fast paced conditions. And in many cases even if everything goes right and you manage to pull off this difficult commercial kitchen type business you still have to wait in many instances 30-60 days or even more to get paid.
Most sales in business are done on payment terms. COD is great but for most business relationships it is just not very common. What is common is performing a service or delivering some goods and having to wait for your payment. In many cases this can put a heavy burden on your financial situation. You don't have to like it but in many cases this is the way business is done. Fortunately there is an option. Many companies are unaware that these 30-60 day invoices have a cash value and can be used to finance operations long before they are due for collection.
You can accelerate your revenues without putting pressure on your clients.
Essentially you have the ability to finance slow paying invoices as long as they are payable by credit worthy customers. This type of financing is known as Invoice Financing or Factoring.
Once you complete the food service and invoice your client, the factoring company advances up 80% of the invoice to your company. This is the first installment and is wired within one business day. The second installment covers the remaining 20% and is wired once your client pays in full. The fee is discounted from the second installment.
This is a very feasible alternative to traditional Bank Financing. Banks require a lot of paperwork and have many stipulations regarding how funds can be used. Invoice financing companies move fast. They require very little paperwork and can complete a funding transaction in many cases in less than 24 hours.
If you own a business and you have tried to obtain financing from a bank in the past you know what we are talking about. A Bankers job is to approach all transactions as a skeptic. They are trained to ask a lot of questions. Their job isn't to loan you money. Their job is to protect the assets of the bank. Plain and simple. Sure banks will finance business projects but their objective is to maximize the banks assets while protecting it's exposure to risk.
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| Fast Business Financing |
Invoice Finance Companies have already done the research and know what type of financing transactions they are dealing with. Invoice Financing is what they do all day everyday. If the invoice is backed by a Payor with great credit the finance charges will reflect that if the Payor has less than perfect credit history then the finance charges will reflect that as well
In any case you can contact an Invoice Finance Company like NorthWest Finance and know within a matter of hours how much funding you can get and how fast you can get it. Invoice Financing has been utilized by businesses for many many years and it as great of business finance solution today as it was back then.
Contact NorthWest Finance today and get the Finance your business needs tomorrow!!
Fuel Business Finance
612-327-5756
www.businessfinancingfast.com
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