28Jan

Finding the Right Factoring Solutions for Your Business

Posted by NCF On January 28,2021

When businesses need to smooth out uneven revenue cycles, boost cash flow, or get fast access to capital without taking on debt, factoring is the go-to solution. However, like with all financing products, the factoring industry casts a wide net, and not all factoring solutions are the same. Finding the right factoring solutions for your business has as much to do with your capital needs as it does the specifics of the factor you are using. Businesses should be looking for the following qualities if they want to find the best factoring services.

Look at factoring limits

Some factoring companies have minimum requirements for their clients. Factoring solutions for large companies typically require a base invoice amount to qualify for services. Ideally, you should look for factoring services that have low or no minimum, and no upper limits.

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21Jan

Priorities for Businesses in 2021

Posted by NCF On January 21,2021

2021 is here, and businesses are hitting the ground running, ready to overcome challenges with renewed hope and strategic thinking. The announcement of COVID-19 vaccines bolstered the marketplace, and businesses are making plans to reopen. However, there is much work to do between now and then, and some of the methods businesses used to adapt during the pandemic are now becoming mainstays as entrepreneurs work toward a more robust future.

E-Commerce is here to stay

Prior to the pandemic, e-commerce was demonstrating year-over-year growth. For obvious reasons, 2020 propelled e-commerce to the forefront. Even businesses that traditionally relied on foot traffic, such as restaurants and live entertainment venues, pivoted to the digital space to deliver products and services to customers. With vaccination and potential recovery peeking over the horizon, businesses are not eager

14Jan

Making Payroll During Uneven Revenue Cycles

Posted by NCF On January 14,2021

With few exceptions, businesses rely on employees to maintain productivity levels and fill client orders. However, during uneven revenue cycles, making payroll can become a challenge. If sales are high, staggered payment schedules on invoices can still cause gaps in revenue, but employees rely on their paychecks as much as businesses rely on their workers. In a period when people are relying on revenue and paychecks, how can businesses make payroll during uneven revenue cycles?

Uneven Revenue Cycles and COVID-19

If businesses ever experienced cash flow disruption, it has been during the COVID-19 pandemic. State and local restrictions limited many businesses, and their clients were slow with payments on invoices. The CARES Act provided funds to businesses to maintain operations, but gaps in revenue caused some companies to take drastic actions. Some businesses were forced to furlough staff or lower wages, which we

07Jan

Are There Viable Debt-Free Business Financing Solutions?

Posted by NCF On January 07,2021

As the financing landscape makes it more challenging for businesses to secure adequate financing, alternative solutions are coming to the forefront. Banks are turning down applications for loans, and businesses do not want to take on extra debt. There are many alternative financing solutions out there for businesses, but are there viable debt-free options that can provide the working capital necessary to sustain and grow operations.

Merchant Cash Advances and Debt-Free Financing

Merchant cash advances are frequently advertised as debt-free financing. After all, they do not depend on credit ratings or collateral, and provide an advance in capital against future sales. That seems fairly simple, but there’s a bit more to merchant cash advances when you look beyond the shiny advertising. In order to repay the balance on a merchant cash advance, your business needs to accept credit card payments. While credit card p

24Dec

Loan Turndowns: Lenders, Requirements, and Business Financing

Posted by NCF On December 24,2020

As banks raise their requirements on loans, business owners are trying ti figure out how they can get the working capital they need to cover obligations, maintain day-to-day operations, and even roll out plans for growth. Loan turndowns have been on the rise, and they are not just experienced by businesses going through a rough financial patch. Loan turndowns impact individual businesses, but have a greater impact on our economy as a whole.

What Triggers Loan Turndowns?

When a business applies for a loan, the lender will compare their requirements with the applicant’s profile. The largest portion of any loan consideration is credit score. For a business loan, lenders prefer their applicants to have credit ratings above 770, and ideally above 800. Anything below that frequently undisclosed number throws up a red flag that the business may not be able to repay the capital they borrow. Cash flow and sales are also

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