Every small and business knows the challenge of finding sufficient working capital to finance their immediate expansion needs. IFG's invoice spot factoring (a.k.a. invoice discounting service) is the solution.
Traditional factoring services have many conditions and restrictions that often make them prohibitive for the small business. IFG Network factoring solutions eliminate the hassle of traditional banks and factoring companies.
With IFG Network you can get cash for your B2B invoices in 24 hours or less. There are no minimums or maximums; you can factor as many or as few invoices as you desire with no upfront fees or long term commitments. Whatever your working capital requirements, be they a few thousand or 0,000, IFG Networks will work with you to find a factoring solution that makes sense. We’ve been providing financial resources to clients like you for over 35 years.
• Over 120 offices across North America to serve you better
• No minimums, No maximums, no long term commitment
• No upfront fee, No co-signer required
A Beginner’s Guide To Factoring
why didn't somebody explain factoring to me before this?
Although factoring has been around for over 4000 years and was instrumental in supporting the American colonies prior to the revolution, it is one of the least known and most misunderstood financial tools available to the small business.
Polynomial Factoring Need Not Apply
Many people think of advanced math classes when you mention the word factoring, and in truth polynomial factoring is a mathematical endeavor that is gaining more attention lately. It forms the basis for advanced encryption techniques in use today and often comes up in discussions of the negative ramifications of quantum computers--how they could instantly break all of today's encryption systems. However, when we talk about factoring at IFG Network, we are talking about a financial practise.
It used to be factoring agreements were on an all or nothing basis. In other words, you either factored your invoices or didn't. Recently, single invoice factoring (spot factoring) has become popular because you are allowed to factor as many or as few invoices as you desired. Read the rest of this article for a more complete understanding of how single invoice factoring works.
You own a small business. Business is great. If only you could lay your hands on some additional working capital, you could expand your company and take it to new heights. Whether it's a one-time need, or an ongoing necessity, working capital or the lack of it, is often the difference between success and failure. Find out how spot or invoice factoring can provide solutions and working capital just when you need it the most.
You've heard about factoring. You even have grasped most of how factoring works in practice. The next question is how do you know whether factoring is right for you and your business? There's a time and place for everything and that includes what the right times and conditions are for a small business to use spot or invoice factoring to speed up cash flow, increase working capital and grow their business.
While often confused with accounts receivable factoring, which is another way of saying invoice factoring, accounts receivable financing technically refers to a loan agreement between two parties. Factoring is a financial purchase or transaction and involves three parties. The biggest difference is that with a loan it's your credit that matters, with a factoring agreement it's your customers credit worthiness that matters. Sometimes, this can make all the difference in the world.
Just when you thought you had factoring figured out, you hear things like accounts receivable factoring with and without recourse. What does this really mean? Our clearly written factoring primer has the answers to this and other questions.
This term has been creeping into the factoring lexicon. Essentially, it is the same thing as single invoice factoring. The reason that it is called spot factoring, and is becoming more common in its usage, is that it refers to the increasingly popular practice of being able to pick your spots and choose which invoices, if any, you want factored. This allows you to retain the most amount of your money, while spending the minimum fees to guarantee adequate cash flow.
As the name implies, spot cash loans are frequently used to get you and your company out from under a tough spot. Frequently, factoring services can be used to provide these spot, or immediate, cash loans thereby ensuring the companies continued success. If your company is struggling with cash flow issues, a spot factoring consultant from IFG Network may have the answers.
We invite you to contact us by clicking here if you have any questions concerning single invoice factoring, or are interested in learning how factoring can be of assistance to your business. You are also welcome to give us a call at the IFG Network corporate offices at 877-210-9748 for US or 877-598-9851 for Canada. We'll be happy to discuss your factoring options.