Many entrepreneurs are finding it more advantages to use Accounts Receivables Financing than the traditional funding sources that have become so difficult to work with. When your company needs to raise funds, you need to determine where to find the capital. In a challenging economy, many of the older financing options are less accessible: banks are tight and demanding, friends and family are trying to cover their own mortgages and rent, and angel investors are few and far between. This means you have to be more innovative in how you find capital to grow and/or keep your business operational. Moreover, you’ll need a resource that can provide the cash needed to fulfill new orders, pay staff and suppliers, and cover payroll tax obligations to the federal government in a timely manner. You don’t have months to wait for approval from a bank, nor can you afford the high cost of money from a venture capitalist, or even giving up your hard earned equity to one. The longer you can avoid raising capital from these traditional sources, the bigger the piece of the pie you get to keep for yourself. One of the best ways to do this is to hook into the engine of the new American dream by using PMF Bancorp for Accounts Receivable Financing and Invoice Factoring (www.PMFbancorp.com).
Entrepreneurs Are The Engine Of Economic Success
Good cash flow is the number one determinant of success in business, and by factoring your invoices; you can access a proactive strategy that will keep your cash flow strong. By demonstrating a consistent cash flow through accounts receivable financing, your business comes across as healthy to potential future investors. After all, factoring invoices is not like a loan. Rather, it is the utilization of your own financial assets to raise more working capital. Banks are lenders who base their financing decisions on you and your company’s credit worthiness. In contrast, invoice factoring is based on the credit worthiness of your clients and the quality of your account receivables.
To start a factoring line is as Easy as 1,2,3…
1) Submit a 1 page application;
2) Receive a proposal within 48 hours;
3) Submit your clients/accounts to be factored;
Then PMF Bancorp quickly moves to approve your accounts, and you can be funded in 24hrs after account(s) are approved. Suddenly, your company can go from cash-strapped on Monday to cash-ready by the middle of the week. As an entrepreneur, you know how essential that switch in perspective can be to the ongoing success of your venture.
If you have questions about how PMF Bancorp can help turn this envisioned goal into a working reality, please contact our financing experts today (www.PMFbancorp.com).