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Member You - Selling Steel Reinforcing Bars (Rebar)? Lear How Factoring Can Help You Grow
An Adventurous way of making money in the bank is through the purchasing of money making funds - stocks, bonds, and mutual funds (Mutual Funds are technically known as the open end investment company.)Each Investment Company must state its objective whether it be to preserve principle so its pu
Factoring receivables provides your company with an immediate advance on the slow paying invoices. This gives you the necessary c
A great and easy way to lend credibility to your company, your products and your services is by having your own registered office. Things have become convenient for businessmen, businesswomen and merchants in UK, who want registered offices. Now they can also get online services which would help them
Companies that sell, cut and bend Rebar have profited nicely from this growth – however, they have also faced a common problem in the industry. The problem is tight cash flow. Basically, they sell the Rebar to customers (e.g. builders, contractors) at good prices. These customers usually pay their invoices in 30 to 60 days. In the meantime, the Rebar company must wait to get paid while covering all supplier, payroll and rent expenses. Many times, this is not sustainable. Either the company stops growing, or worse, it starts missing key supplier or employee payments.
Going to the bank to get business financing is not always the best solution. Why? Banks seldom finance companies in the Rebar industry. And before they finance a company, they need to see a detailed business plan, three years worth of company financials and owners with good personal credit. Also, they take months to make a decision. However, there is a better solution problem – the solution is to factor your receivables.
Factoring receivables provides your company with an immediate advance on the slow paying invoices. This gives you the necessary ca
It certainly isn't the easiest job in the world to manage a construction project – and it involves a lot more than knowing how to use tools and build things! Of course construction managers do years of study to learn all the complexities of their role, but onstructionestimating is something tha
Going to the bank to get business financing is not always the best solution. Why? Banks seldom finance companies in the Rebar industry. And before they finance a company, they need to see a detailed business plan, three years worth of company financials and owners with good personal credit. Also, they take months to make a decision. However, there is a better solution problem – the solution is to factor your receivables.
Factoring receivables provides your company with an immediate advance on the slow paying invoices. This gives you the necessary c
The foundation for success…A common challenge for all businesses is how to pay for the equipment needed to perform their services. Even among experts and professionals, opinions will often vary. The one thing you must recognize is that each business is unique and there are no standards that w
Going to the bank to get business financing is not always the best solution. Why? Banks seldom finance companies in the Rebar industry. And before they finance a company, they need to see a detailed business plan, three years worth of company financials and owners with good personal credit. Also, they take months to make a decision. However, there is a better solution problem – the solution is to factor your receivables.
Factoring receivables provides your company with an immediate advance on the slow paying invoices. This gives you the necessary c
It's been a difficult year for the label manufacturer. Price pressure has increased and margins have been under steady pressure. The consumer wants a bargain and labellers are under pressure to provide budget solutions in an ever more competitive marketplace. Naturally, this worms its way down t
Factoring receivables provides your company with an immediate advance on the slow paying invoices. This gives you the necessary c
Do you really need a business mission statement? Is it just some fancy words to put in that business plan that collects dust on your shelf, or is there really more to it?One of the key attributes of successful businesses is that they clearly know what they do. Defining the goal or the "missio
Factoring receivables provides your company with an immediate advance on the slow paying invoices. This gives you the necessary cash to pay suppliers, employees and rent. And as opposed to bank financing, invoice factoring is easy to obtain.
This is how accounts receivable factoring works:
1. You sell the Reinforcing Bars to your client. You send them an invoice
2. You send a copy of the invoice to the factoring company, who advances you up to 85% of its value
3. Once the customer pays for the invoices, you get the remaining 15%, less the service fee
Factoring companies charge differently for their services, but the cost is generally anywhere between 1.5% and 3% per month. Price varies based on financing volume and on the quality of your invoices.
The biggest difference between factoring financing and bank financing is that factoring is very easy to obtain and quick to set up. Most companies can obtain a substantial line of financing in as little as 5 days. Although not widely used in the reinforced bar industry at this time, it’s an ideal source of working capital that is quickly gaining popularity.
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