In previous blogs, we’ve discussed common causes of cash flow problems among small to medium-sized businesses as well as signs that your own business might be experiencing cash flow problems. In time when cash is tight, lending solutions like receivables financing from The Commercial Finance Group in Atlanta can help your business to survive.
But what about when you’re doing much more than just surviving? What about when your business is thriving and you want to take it to the next level?
Rapidly-growing businesses are the types of clients we especially love to serve here at The Commercial Finance Group in Atlanta. Let’s take a look at a few of the ways that receivables financing can help a successful business expand when the time is right:
Receivables Financing…
1. Boosts Your Credit
When you have ample working capital thanks to receivables financing, you’re able to pay your bills on time, your business’s credit rating goes up, which makes you more “bankable” in the eyes of traditional financing institutions. With the help of receivables financing, you can put yourself in a position to get loans at a better interest rate in the future.
2. Expands Your Client Base
Depending on the type of business you’re running, receivables financing may allow you to offer your customers longer and better payment plans for goods and services. When people realize that you offer financing plans, it can help to expand your client base, eventually bringing in more revenue.
3. Earns You Discounts
When you’re able to repay your business’s traditional debts early, it may qualify you for early-pay discounts that save you money and allow you to free up more working capital.
4. Saves Money On Inventory
Many businesses use our receivables financing services to help them buy supplies and inventory in bulk, a process that saves both time and money over the long-term. This not only allows you to to purchase better quality supplies at lower prices, and to meet customer demands for a larger variety of products, but also helps you to avoid situations in which you may run out of products or supplies at an inconvenient time.
5. Allows You To Upgrade Equipment
One of the most pressing needs of an expanding business is that of new equipment. When you hire new employees to help you keep up with demand, they need desks, uniforms, computers, tablets, safety gear, and other things. When you move into a newer, larger, better-located office, you’ll need to supply furniture and possibly pay for improvements to existing fixtures. All of these high dollar items must be purchased immediately in order for your business to operate properly and receivables factoring is a smart way to make that happen!
If you’re the manager or owner of a growing business that’s looking for financing options, contact The Commercial Finance Group in Atlanta today. We’d be happy to walk you through our entire portfolio of lending solutions, including receivables financing. We’ve helped many small to medium-sized businesses in the past, and we’d be honored to be your partner in growth.
