Follow on Google News
News By Tag
* Accounts Receivable Factoring
* Accounts Receivable Financing
* Commercial Factoring
* Discounting Factoring
* More Tags...
News By Location
Follow on Google News
Nevada USA Temp Placement Office has Worry-Free Factoring
Have you ever had customers that did not pay their bill to your company even though you did the service to their satisfaction or delivered the goods on time with no complications? They even signed off on the Proof of Delivery and never hinted...
By: Wade Henderson
This is precisely what happened to a Temp Placement office in Nevada USA. They had been dealing with companies that they had for a few years now without incident. They had signed the Proof of Service deliveries that they used which were time cards, and never indicated a problem. The accounts were to be paid net 30. After the Invoices were due they Placement office called looking for their funds and they were given an excuse of why they were not paid and they were then told they would get the funds as soon as they could. To make a long story short, the customers were in bankruptcy protection and their invoices were put into the claim.
It was after this happened 3 times that the owner of the Placement Agency decided to look into options to stop this problem from really getting out of hand. They had already depleted their cash reserves and they could not withstand another customer not paying their Invoices or they would be looking into bankruptcy protection themselves.
Sure they could insure the Accounts Receivables;
They contacted a Professional Commercial Finance Broker who knew exactly how to set up their accounts in such a way that they could use the funds that were locked up in their Accounts Receivables Collections, their normal Accounts Receivable which were under 90 day and prevent this problem from happening again.
The Broker was able to liquidate their current bad debt, put them into a Commercial Factoring program which was insured so that they now had a Non-Recourse Invoice Factoring and the advance they took on their Accounts Receivable would never come back against them.
Wade Henderson is a recognized Expert in the Business Finance with over 14 years Experience in the Commercial Lending Field and a strong reputation for getting the deal done. Visit IMMFinancial.com to put his experience to work for you. Factoring Loan * Invoice Factoring * A R Factoring * Small Business Factoring
# # #
IMM Financial Solutions Inc. we are the Source for your total Business Financing. From Accounts Receivable, Purchase Order and Inventory Funding, Commercial Equipment and Commercial Real Estate Financing…we cover it all.