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When taking on a new contract, factoring your receivables can be a viable option to ensure you have the funds in place to complete the project.
A new project can quickly drain your bank account when payroll expenses need to be paid biweekly and operating and supply costs are required to be paid upon startup, yet your invoices will not be paid for 30, 60 or even 90 days.
Factoring your invoices allows your company to have the cash flow needed to meet these payment requirements.
At Factors Western we encourage our clients or potential clients to call us when they are in the bidding stage, so we can provide credit information and let them know from the beginning we can assist them with the project.
It also gives them a chance to know and build in the factoring fees to their forecasts and analysis in the planning stage, and make any required adjustments.
Why not give us a call to explore the advantage of factoring when taking on new and larger projects.
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