Friday, 25 November 2016

What is invoice factoring?

Knock Knock! Can you hear that? its opportunity knocking at your door congratulations! Unfortunately it takes working capital to open it. You need to find a way to fund the outgo of expenditures before you can get the income of new revenues. Let's compare a couple of options that can get you cash quickly. A cash advance loan seems to be the hottest new cash now option but have you ever noticed that things that seem too good to be true generally are. let's say your business has 1 million dollars in annual revenues with accounts receivable turning on average 10 times per year a cash advance loan might offer you $100,000 daily debit loan. The term seemed reasonable enough until you do the math day 197 thousand five hundred dollars cash deposited in your bank with one thousand dollar per business day ACH withdrawals after three months the initial deposit is paid down to 34 thousand five hundred dollars after six months you will have paid back 125 thousand dollars which equates to an annual interest rate of 109% man good thing there's a better option. At triumph, we do things differently our number one priority is to help your business succeed we do this by lending responsibly and giving you tools like invoice factoring to build a smart and successful business invoice factoring is the sale of accounts receivable less a small service fee all of those invoices sitting there waiting to get paid are worth immediate cash today let's take a look at how it works with us factoring has been a solid cash now option for thousands of years triumph technology has made it significantly easier and faster but the basic principles remain the same number one deliver goods or services to your customer number to create an invoice for the work number three send the invoice to triumph number for triumph pager and voice within 24 hours if not the same day and with our where's my money app you can track your money all the way to your bank account whether you need cash now insurance back office solutions or fuel advances triumph has the know-how to do it right now make the smart choice for your future today triumph business capital has a team of invoice factoring experts who are waiting to help you open the door to new opportunities.

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