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Wisconsin Trucking Company lowers Factoring Fees with Simple Switch
As with most businesses today, costs are being cut in any way possible. This was no exception for a Wisconsin Trucking Company was looking to reduce the fees they were paying on their Accounts Receivable Factoring facility.
By: Wade Henderson
It does not matter if you are currently using Invoice Factoring now or you have a LOC with your bank. Rates have been dropping everywhere with the increased competition for your business. So should your company be looking at options that can reduce your Working Capital fees?
Absolutely Many companies are locked into an agreement and even with termination fees that may arise; the net result will often be to switch from your current provider to a new Low Cost Factoring facility.
In today?s world, the best place to find the AR Factoring Company for you is online. The internet will help you find the Best Factoring options for your business.
One word of caution though the shear number of Commercial lenders out there will seem like a myriad of options for you and which one to choose is very difficult to determine unless you are up on all the newest trends and you know which Commercial Factoring Company specializes in what. Many businesses are turning to Commercial Finance Brokers to assist in this task of screening through the various lenders.
Professional Commercial Finance Brokers are in this every day and know which lenders to go to based on the information you provide in terms of your industry, sales volume, whether you want Spot Factoring or an actual Factoring Line. The internet will make a short job of locating a Professional Commercial Finance Broker service. Simply search AR Factoring Quote on Google or Yahoo and you will find good sources.
Also with all the banks tightening the underwriting guidelines for traditional Lines of Credit, AR Financing is becoming the way many businesses manage their Operating Line of Credit. Even the US Government is now Factoring the Invoices of the Auto suppliers in Michigan now. A true sign that a Cash Flow Solution is better than a loan.
Wade Henderson is a recognized Expert in 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. Don't reprint the same version as everyone else.
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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.