Why factor?

In general, you should only factor if you like having greater control of your business, having more money to work with and reaching your goals sooner. As you’ll see below, factoring offers you financial access and flexibility well beyond what you could get at a typical bank. Of course, at First Financial Factoring, we expand and enhance the benefits of factoring even farther. Just look at some of the advantages.

You don’t tie up your company’s equity.

With factoring you are not borrowing money, you are selling an asset. Other types of financing lock up your assets, while factoring frees them up to work harder for you.

Immediate cash flow expands your business options.

Now you can jump on growth opportunities as they appear. Take advantage of cash discounts, do opportunistic advertising, staff up, expand inventory or infrastructure, all while comfortably meeting payroll, paying taxes, rent, insurance and equipment payments and keeping your suppliers paid on time.

You can avoid financial partnerships that take away your control.

It’s your business and you ought to have the final say on how things get done. Factoring keeps you out of equity sharing partnerships with venture capitalists you might otherwise need to keep your company on its financial course.

Improving customer service is easy.

Factoring allows you to offer your customers more generous credit terms without affecting your cash flow. Make it simpler for them to work with you, and they’ll reward you with more orders.

Your credit will improve.

You incur no debt with factoring. So your balance sheet looks a lot healthier and your payment capabilities are much stronger. Now if you want to find additional types of financing, you can negotiate from a position of greater credibility and power.

Immediate results empower your company fast.

Putting First Financial Factoring to work for you takes 3 to 5 days total to set up. So in less than a week, your entire organization can go from cash strapped to cash ready.  Isn’t that better than the tedious bureaucracy of landing a bank loan?

No mountain of paperwork weighs you down.

Factors usually don’t require financial statements, tax returns, business plan, projections, etc. like most banks and commercial lenders.

Credit problems and imperfect track records aren’t a problem.

Because our focus is on the creditworthiness of your customers, recent startups and companies with less-than-fabulous financial backgrounds still make good candidates for financing.

You can reduce overhead right from the start.

Because First Financial Factoring assigns you dedicated professionals to manage your accounts, you may be able to eliminate now redundant systems at your company, reducing overhead and giving you greater resources to grow your business.

Your clients will like you better.

Why? Because all that time you used to spend searching for capital, resolving bookkeeping issues, and collecting payments can be dedicated to building relationships with both long-standing and prospective clients alike.

Bad debt expenses become a thing of the past.

First Financial Factoring provides you with our state-of-the-art Credit Inquiry System online. So you can screen the credit of clients and potential clients, saving you future loses and headaches from bad debt problems.

Customers want to be more reliable in their payments to you.

Because First Financial Factoring works closely with Dun & Bradstreet, Experian, Compunet and other credit agencies, customers work hard to maintain their own good names with these organizations.