Perception and Perspective….When a company accelerates its cash flow by utilizing a factoring program, invariably, somebody in that business owner’s life (banker, accountant, customer, family member, etc.) remarks about it in a negative way…usually about the cost.
SO many times we hear “What are my customer’s going to think about me if we factor our invoices?” and “Do you know how expensive factoring is?”… Well, how are you going to feel when predicting your cash flow becomes a low hurdle instead of the mountain you’ve been trying to climb for the last year?
Let’s keep it in perspective and look at the promise of what factoring does for you.
Factoring, by definition, is the sale of an invoice, at a discount. The discount is usually incremental and based on the length of time it takes your customer to pay. That “Discount Fee” is something you should consider “adding” to your pricing that you quote a potential sale to one of your customers.
Assume Catamount quotes you a 2% “Discount Fee” …. In your banker’s mind and probably that of your CPA’s as well, 2% for thirty days out means 24% per year! Wait a minute now…
Here’s a question in return. If a commissioned sales person gets paid 8% commission on sales each month, does that mean that sales person makes 72% a year? Whoa, is that too much to pay a good sales person? Hardly, good sales people are invaluable.
So, if your perception and perspective is…..”I have a great product, I have great sales people whom I value, I have predictable cash flow with my factoring program” …the opportunity to take your company to the next level is HERE and NOW.
Your banker is probably on the fence and really can’t approve the amount of credit you need. You can afford to discount your invoices and factor them. You can afford to pay a good sales person. You can grow your book of business. You can and you will compete, succeed and prosper!
In all reality, your perception and perspective is what matters most. Your customers really don’t care where you get your financing….they just want you to perform and deliver the goods and services at a high standard. You already do that!
Give Catamount Funding a call. You will be glad you did because we want to help! Let’s go...
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