Financing Businesses in the Service Industry

Posted by NCF On August 14,2018

The service industry has exploded over the past few years. Conservative estimates place the combined revenue of the entire service industry at close to one trillion dollars annually, though most realists would place figures over that amount. However, despite high sales and revenues, service companies have a difficult time securing loans and other types of financing needed for general growth or to expand into new markets.

Service Companies and Loans

Service companies provide intangible products and services. Trucking, Software as a Service (SaaS), janitorial companies, legal firms, and more fall under the umbrella of the service industry. These businesses provide intangible goods and services, and are not direct manufacturers. Since many of these companies do not provide physical goods and use leased equipment, they are able to lower overhead expenses while increasing sales. Unfortunately, the lack of fixed assets means ther

Debt-Free Growth Strategies for Manufacturers

Posted by NCF On August 10,2018
The current economic climate is favoring manufacturers, and taking advantage of growth opportunities can help business owners carve out a larger market share for their companies. However, using traditional loans can keep manufacturers from growing to their full potential.

Debt Has a Ripple Effect

Growth is about reaching new milestones, tapping into new markets, and rolling out new products. Traditionally, growth projects involve taking out loans, which impact credit scores and place debt on the balance sheets. The balance on the loan is repaid from a portion of the post-growth revenue. Yet growth combined with debt is a big risk. Even if sales are low during that period immediately following expansion, loan payments must be made or else the business is in danger of defaulting. At the same time, manufacturers still have to maintain overhead expenses, payroll, maintenance on equipment, and more. Frequently, manufacturers end up scaling back their plans for growth to figure ho

Grow your business! Simple solutions to gaining Cash!

Posted by NCF On August 29,2016
  New business or old established businesses sometimes need additional cash to expand, implement new programs, purchase additional equipment, or add new staff to the increased demands. What are some tactics to get you the cash you need? Business Loan Small business owners can usually qualify for a small business loan easier than qualifying for a traditional loan, but it takes a while to get approved. You can receive information about an Small Business Administration (SBA) loan through your local lender. To qualify for this loan your business must meet qualifying criteria and provide statements of tax returns, personal history, profit and loss statements, loan application history, resume, bill of sale, and your lease agreement. This works through your local lender to guarantee repayment to your financial institution should you default on th

How Does Invoice Factoring Help Your Company Grow And Succeed?

Posted by NCF On June 29,2016
Every business that wants lots of working capital, so that bills get paid and the company can grow, should try Invoice Factoring. Factoring is simple: A factoring company funds the cash payment based on the amount written on the invoice, then collects the payment from the customer. The final step is releasing the reserve balance minus the factoring fee. The process is easy, but how does invoice factoring help a company?  What benefits does it provide? Fast Access To Cash Once the invoices are approved, you get the cash typically within the same day. This happens after the initial setup process that takes a few days, depending on how fast you gather the required documentation, but it’s still very fast compared to bank business loans that can take you months!

Debt-Less Cash Flow

This process is not a loan,

5 Hidden Benefits of Receivables Factoring

Posted by NCF On June 13,2016
Business owners often find themselves in a position where they need additional cash for their business. Many are turning to accounts receivable factoring as an easier alternative to bank loans. Some of the hidden advantages of factoring include:

1. Staying Debt-Free

Many business owners who need cash are reluctant to go into debt to expand their business or to take on bigger contracts. Receivables factoring allows business owners to leverage their invoices without going into debt.

2. Keeping Company Equity Intact

One challenge companies often face when seeking new investors for much-needed cash is the demand for equity in their company. Companies who are not willing to give up equity in their company can use factoring to their advantage and get the cash they need without losing vit
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