F i d e l i t y M a x (816) 746-5992
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What Is Factoring?
Factoring is a type of financing where businesses sell their accounts receivable (invoices) to companies known as factors. As a financial tool, factoring helps businesses improve their cash flow. Factoring is neither a form of debt, nor is it equity financing. And, it is not, as some people assume, a loan.
While factoring can help problem businesses, it is primarily a source of financing for new or rapidly growing businesses. Factoring allows businesses to improve their cash flow and quicken their growth by shortening their receivable cycle. By selling their invoices, businesses can eliminate the 30, 60, up to 90 (or more) days wait for customers to pay on their accounts.
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How Many Invoices Am I Required To Factor?
FidelityMax does not require its clients to enter long-term, restrictive contracts or meet minimum monthly requirements. This flexibility allows companies to factor when, and how often, the need arises. A company can factor all its invoices one month, and none the next, depending on their cash flow needs. This is especially beneficial to those companies who experience seasonal or unexpected sales changes.
Does My Business Need Good Credit To Factor?
Businesses do not have to have an outstanding credit history to factor. Instead, FidelityMax primarily analyzes the customer's credit. This means FidelityMax looks at the credit-worthiness of its clients' customers and their ability to pay. This is beneficial to new companies that do not have an established credit history needed to secure loans or other financing.
How Can My Business Benefit From Factoring?
- Focus on business operations instead of cash flow concerns
- Increase production and sales
- Take advantage of trade discounts, or those discounts offered by suppliers for early payment
- Meet payroll or payroll taxes
- Finance expansion without debt
- Fund marketing or e-commerce projects
- Pay off outstanding debt
- Improve credit rating with timely payments
- Improve balance sheet by increasing cash and decreasing A/R
- Eliminate need for outside investments, such as loans, credit cards
- Position business for outside investment, such as attracting bank financing or SBA loans
If you want more information call (816) 746-5992
Is a lack of cash flow limiting your growth?
Cash flow means everything to a growing business.