Most businesses that have been around for a while will undoubtedly have a laundry list of different bankers with whom they have dealt in their past. While every business has a bank, very few have a banker.
In the business world, everything changes. Factoring is no exception, especially with its rise in popularity over the years.
It is no secret that a small business is the most fragile type of business there is. Funding is scarce, customers can be unforgiving and navigating the social landscape can be exhausting.
Building capital is no easy task, especially when a long wait for invoices to be paid becomes commonplace. As factoring becomes a better alternative to tedious bank loans, more and more people are seeing the benefits of the quick and easy process. While it is an easy foray into gaining the capital you need to thrive in business, it is helpful to understand the process and the key players involved.
Do you love where you live? If so, then you’ve got your local small businesses to thank. Being defined as 500 employees or less, small businesses are, according to Chron.com, a “major contributor to the strength of local economies”. They provide new employment opportunities and bring growth and innovation to a community.
Even with a running start, it can be hard to keep a new small business in the race. In the beginning, finding the capital to keep things going and avoid lulls takes serious effort. While other businesses shut down due to financial hardships (most in the first five years) some turn their sights to factoring to provide assistance with cash flow. When it comes to providing working capital and giving a new small business a boost, factoring works…
Victims of the severe storms, tornadoes, straight-line winds and flooding that took place beginning on May 4, 2015 in parts of Texas may qualify for tax relief from the Internal Revenue Service.
At some point during the life-cycle of all companies, utilization of revolving credit will be necessary. Whether it is with a vendor, supplier, sub-contractor and finance company, sourcing working capital needs through revolving credit is part of every small business’s make-up.
Even when business is good, great, and beyond, there are times when the very money you’re anticipating can topple you. This is especially true when it comes to net 30 invoices. While the work is still done and financed through the business, the payout is not available up front. This can lead to serious cash flow problems (and considering that not every business works one client at a time, this can be detrimental for concurrent work). Many people…
In a perfect world, funds would be available the moment you needed them for your business. Whenever you were a little tight because of a down season, or even just needed a boost in the right direction for a start-up, loans would be approved and capital would appear. It would erase a lot of stress that comes from an old but important question: What do we do as a business when the money we need is tied up elsewhere?
A business is a constant combination of tough decisions made on shaky ground. Studies have shown that around 50 percent of businesses ultimately meet an end before they’ve reached their prime. It isn’t all bad, of course. With the right decisions, attitude, and practices, many businesses manage to stay afloat (there’s another side to that 50 percent, after all).
Time............where does it go? Have you ever finished the day and nothing is marked off your "to do" list. Do you ever wish there were more hours in the day? Do you sometimes feel like you spend all your time putting fires out?
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Without Catamount we would not be where we are today...period. They have been a tremendous help and are very supportive!
When we needed help Catamount stood up to the plate for us. Their service is outstanding...great people to work with!