Here are some questions that you can expect to answer and some reasons why these are important.
BusinessCash will ask you what industry you’re in, who your customers are, and what your sales are per month. This is because PO Funding and Invoice factoring are based on the creditworthiness of your customer, not your business. This is extremely advantageous for businesses that are just starting out. They will also want to know why you want the money. This is because BusinessCash is a business that wants to drive your company’s growth. If you have orders that you cannot fill or are a staffing company looking to expand, you’ll be given a high priority. Also, there are some additional services potentially available to expanding businesses if you already have ordered.
Another important set of questions will focus on the payment history and payment terms for your client. How does their payment history look? How many days do they have to pay the invoice? What are all the terms and conditions? BusinessCash’s invoice factoring includes a “soft touch” service that collects and manages your outstanding invoices. It’s important that the professionals who are collecting your money for you ensure that your clients, the account debtors, have all the information. This way you’ll be able to receive the payment in a timely manner. Credit protection is another critical component for startups as one non-payment would cripple their business.
Be prepared to explain how you got into your business and what your plans are for the future. One of the great things that come with BusinessCash’s services is advice from their experts. Their team is made up of entrepreneurs and many owners, have owned, bought, and sold businesses. Not only that, they have years of experience dealing in each industry that makes use of invoice factoring. They want you to team you up with the right group of experts that will assist your ROI.
Remember that BusinessCash only makes money when you make money. There are good reasons for all of the questions they ask. In the long run, it makes for a smooth transaction for you and the client that you’re billing. A smooth transition leads to phenomenal growth that wouldn’t be possible without the working capital that BusinessCash provides.
BusinessCash has clients who started will a $50,000/month funding need who have grown to over $1,000,000/month! It is success stories like that keeps everyone at BusinessCash motivated and satisfied.