How a Factoring Company Can Save Your Business
Being your own boss is great until cash-flow problems threaten the survival of your business. A recent study by the U.S bank attributes the failure of 82% of small businesses and startups to cash flow problems.
If you don’t have enough cash in your business to cover all your bills while you are waiting for your clients and/or customers to pay outstanding invoices, a factoring company can help you meet that challenge.
Here’s how it works:
Perhaps you have outstanding invoices of $10,000. You hand these outstanding invoices over to a factoring company that charges you a fee of 2-3%. The factoring company will now immediately pay you 90% of that invoice less their 2-3% fee ($1000). So you get the cash due on your invoices immediately to cover your business expenses— but you just get less of it.
Kore Capital Corporation is a reputable factoring company can help you successfully keep your business afloat, despite cash flow problems, get in touch with us today. Call 301.307.5091 or contact us today.