Your business is growing and you've just delivered a major order to a customer. Trouble is, until that customer pays you, you're broke. Your banker won't lend you any more money and your suppliers have cut you off until you pay them, which you won't be able to do until your customer pays you. So what do youdo now? You could just wait until the money comes in and turn away business until then. Or... you could use spot factoring.
Spot factoring is a surefire way to turn your receivables into cash. Normally, you might have to wait 30-90 days or more for invoices to be paid. A factor, such as River Rock Financial, looks at your customers's credit (as opposed to yours) and can pay you the bulk of what's owed within a couple of days. You will receive the balance, less fees, after the customer pays us. Many factors want companies to sign contracts promising them a certain amount of business over time, but spot factoring operates differently. After due diligence to check credit of your customer we'll buy a receivable whenever a business needs to sell one.
It is your choice if, and when to sell an invoice. Our services are no obligation. Once approved you don't ever have to use us. We're like another tool in your toolbox. We're there when you need us.
www.riverrockfinancial.ca
