13Dec

The Biggest Advantages of Using Factoring Services for Your Business

Posted by NCF On December 13,2018
When your business uses factoring services, the advantages go well beyond fast access to capital. Factoring services can help make your business m ore financially secure, allow for rapid growth, and much more. The experts at New Century Financial have put together a list of the biggest advantages of using factoring services to give better insight into how businesses benefit in both the short and long term.

Improved Cash Flow

It’s no big secret that if you have revenue tied up in unpaid customer invoices, cash flow can seem pretty tight. Even if sales are high, waiting 30 days or longer for customers to settle accounts can threaten to flip finances upside down. Factoring converts outstanding receivables to cash in as little as 24 hours, which supercharges your cash flow.

Reducing the Need for Loans

Business owners want to avoid debt and preserve credit ratings whenever possible. By converting receivables to cash through Read More
06Dec

The Benefits of Having a PEO Company

Posted by NCF On December 06,2018
Business owners and decision makers understand how to make the most of every dollar to run and grow operations. However, as a business grows, the demands placed on human resources and other facets increase dramatically. To ensure that money isn’t wasted and to get the biggest return to keep things running smoothly, businesses use PEO companies. What is a PEO company? A professional employment organization (PEO) handles many HR functions, such as payroll and benefits. This method of contingent staffing puts HR, payroll, benefits, and compliance responsibilities in the hands of a dedicated team, so owners and managers can focus on running their business. Additionally, PEOs can save businesses lots of money compared to those that try to handle everything in-house. Help with payroll By working with a PEO, businesses can reduce payroll processing costs along with the accompanying accounting. PEOs can handle withholdings, garnishments, W-2, and even 941 payments. In addition to
22Nov

Rising Interest Rates Drive Need for Alternative Business Financing

Posted by NCF On November 22,2018
Last month interest rates on loans were raised for the third time in 2018. As our economy gains momentum, the Fed may implement more rate hikes to guard against inflation. However, rising interest rates are also making businesses more cautious about taking out loans and looking for more flexible financing methods that don’t place debt on the books.

Avoiding Debt and Rising Interest Rates

Instead of seeking funding from traditional lending channels businesses are building capital by factoring receivables. Accounts receivable factoring provides debt-free capital by converting unpaid invoices to cash. Most businesses follow the standard practice of issuing invoices with a payment schedule of a month or longer. Instead of waiting on a staggered stream of revenue, factoring can convert invoices within a single day. The improved cash flow allows business to quickly build up a source of working capital without the need to rely on loans.

No Debt. No Installments. No Rising In

15Nov

Carrier Fleets Use Factoring to Meet Increased Demands

Posted by NCF On November 15,2018
Carrier fleets are in a very interesting position right now. Shippers and customers rely on carrier fleets to get materials and goods to their destinations. Simultaneously, carriers are positioning themselves for growth to recruit more drivers and put more capacity trucks on the highways to meet the demands of the current economic climate. However, carrier fleets need ample capital to jump on growth opportunities while still covering payroll and other regular expenses.

The Cash Flow Bottleneck

Hauling shipments all over the country generates a large number of receivables. The standard procedure is to issue invoices with staggered payment schedules of 30,60, and even 90 days. The delays in payments can place a severe strain on cash flow, which can force carrier fleets to put growth projects on hold, and sometimes leave them struggling to cover overhead costs. This cash flow bottleneck can have bigger repercussions outside of just the trucking industry, causing supply chains t
08Nov

Maintenance Companies: Unlock Your Cash Flow Potential

Posted by NCF On November 08,2018
The demand for service companies has skyrocketed over the past year. Among those, maintenance companies have seen increased orders and contracts from both residential and corporate clientele. While many maintenance companies do not have the real estate or other assets to get traditional financing, there are ways to get the funding necessary to meet the demands of a growing customer base.

Maintenance Companies Rely on Cash Flow

A healthy cash flow is the key to long-term success for all maintenance companies. But with contracts and invoices, waiting on payment from customers can place a severe strain on cash flow. If there were a way to receive payment at the rate of delivering services, maintenance companies could grow exponentially without having to take out short-term loans for extra working capital. Fortunately, there is a way to unlock the potential of your cash flow without taking on unnecessary debt.

Boosting Cash Flow

Most maintenance companies provide serv
New Century Financial

New Century Financial

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Factoring Is Simple and Easy

  • No monthly minimums
  • Credit lines up to $5,000,000
  • Quick online application
  • First funding as fast as 24 hours

To Apply for a proposal within 24-hours, please click here or download the PDF Application.

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Factoring Is Simple and Easy

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