Factoring Making the Options Better Than Before

A simple and modern alternative to the banking factor allows you to receive money for invoicing earlier, as well as pay your bills later.

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About The Product

The sale of accounts allows you to receive money for invoices earlier. There is no need to wait a week or a month for the moment of payment. Do not lose the opportunity, waiting for payment from the debtors. With no little importance, the sale of accounts can be anonymous, you should not inform customers. Customers use this kind to specialize working capital and increase turnover. Examples of application:

  • Offer your customers longer payment terms
  • Pay vendor bills faster
  • Increase sales and business expansion
  • Pay bills later
  • 100+
  • We already buy more than 100 accounts per week
  • 100%
  • From our customers use the service repeatedly
  • 45 D.

For so many days we improve the cash flow of our clients’ money

How It Works?

Get money for your services right away, there is no need to wait 30 or 90 days from the date of payment. Get money in one business day:

  1. your enterprise sells the store production
  2. your enterprise sell the factoring companies account
  3. shop pays an account at the indicated term
  4. factoring companies pays account in advance

Frequently Asked Questions

What Is The Sale Of Accounts?

Sale of accounts is a new type of financing, which allows you to get cash for receivables. Factoring services are most often used by manufacturers, retailers, wholesalers and builders. After the delivery of the unpaid and accepted waybill to Factoring companies, the customer can receive up to 90% of the total amount (net of commission). With the use of the factoring invoices the problems get solved up.

Why Choose The Sale Of Accounts?

Sale of accounts improves the cash flow of the enterprise and facilitates the planning of finances. To obtain this service, no security is required, since the guarantee is a receivable.

Do I Have To Pay For The Application?

No, the application for a loan is free of charge. Regardless of whether a positive or negative decision is taken on the application, all expenses related to the consideration are covered by Factoring companies. When issuing a loan, the client covers only the services associated with the design, according to our price list.

What Accounts Can I Sell?

We buy accounts from all the Baltic countries, as well as Sweden, Denmark, Finland, Norway and Germany. We do not buy invoices from bad debtors, we assess the payer’s paying capacity accordingly.

What Is The Maximum Invoice Payment Term?

Factoring companies pays for accounts with a period of 15 to 90 days. Accounts of less than 1000 EUR are subject to additional commissions.

Can One Company At The Same Time Submit Several Invoices For Payment?

Yes, under the contract, a client can apply for payment several accounts simultaneously, without using the previously agreed limit.

How to Find Your First Carrier Customers

Before any prospecting at the level of a customer carrier, make an inventory of all your documents.Some transport customers may request up to fifteen supporting documents; license and insurance goods, gray cards etc.

To start as a VL or make truck load boards for heavy goods carrier, aim for the freight forwarders: in short they have customers and your are subcontracting carriers for their sign.Some will give you a lot of work with other small prices less work but better paid.

Communicate

For this, it is necessary that customers find you: directories (yellow pages, specialized directories), internet presence (site and social networks).

Never miss an opportunity to talk about your business and hand in your business card. The simplest method is the phone simply! Prospect!

PS: to start if you are alone, work with 3 or 4 regular customers. Refused benefits too often will make you lose valuable customers.

Prospect

Almost all requests for express transport are made by pros.Prospect carrier and commissionaires; they will make you work;moreover, the fact of being subcontractors leaves you a certain freedom to act … Offer your services and show your seriousness and your professionalism. If you do it right on the phone and during your interviews and with patience; the phone will eventually ring.

Work with Your Competitors

Yes, you read correctly! Create a network of carriers with which you can exchange races, grouped shipments etc.

Warning! You can subcontract freight up to 15% of your turnover if you are only a carrier and not a freight forwarder. Finally, take the time to do a real market study of the sector where you want to work (shopping, messaging, small tour, vehicle type). Start outsourcing to gain experience and understand the job.

Manage Your Home Transportation Company

You need to advocate at its beginning to manage your home transport company.Indeed starting from home to start his business is interesting, obviously if you do not have a big budget and especially to feel mentally free from the pressure of an additional rent.

Personally, you have to manage the company with several employees and subcontractors from your home for many years, without worries! Of course it requires some organization and more if you want not to hire and stay alone so it’s tip-top. Managing your home transportation company is the opportunity to save money and not have to pay for a room and its related expenses, a significant gain when you start your own business.Moreover it is possible to rent the area of his home used to his company by adding any costs there (energy consumption, % of council tax etc.).

What is the difference between open and silent factoring?

In an open Alliance one factoring, the sale of receivables is displayed to the customer. All existing customers are referred once to the factoring. In addition, each bill must bear the indication that “with debt-discharging effect is only to pay to the factor”.

In the past, many medium-sized companies have spared this hint, which is not necessary in silent proceedings. In recent years, this fear has been greatly reduced, since factoring has established in the meantime as a common form of financing and in most bookkeeping means only the change of a bank account. This development is comparable with the financing form of leasing. In the 80s and 90s it was quite disreputable to lease a nice car, today it can be quite disreputable to pay for your car with cash!

  • The silent factoring is legitimized by the newly created which sees the sale of receivables as legal, despite prohibition of assignment and lack of disclosure.
  • Nevertheless, factoring providers place higher demands on factoring customers for silent factoring. Most factoring banks expect sales in excess of 10M and a CR index better than 300.
  • A pleasant side effect of open factoring is that the condition is usually a bit cheaper.

The subjects of the business environment often face a shortage of working capital, especially relevant for beginners of small and medium-sized businesses. Solve the problem called process, called factoring.

Factoring can be called intermediary activity, the process of which occurs according to the following scheme:

  1. The factoring company pays 80 percent of the value of the goods of the manufacturer and obtains the right to collect debt obligations from the buyer;
  2. Payment for the rest of the financial resources (10-20 percent) occurs after the buyer transfers 100 percent of the debt to the account of the factor.

The money is transferred after deducting interest for the factor, in world practice this rate is about 0.5-3 percent higher than for bank loans, since the risks with such an operation are somewhat greater. At the same time, there are a number of factors that affect the level of the rate: the authority of the producer and the buyer, the nature of the factoring transaction, the term of provision, etc.Factoring is a very profitable business, but at the same time it carries fairly decent risks.

The difference between factoring and leasing

Despite the fact that factoring, leasing and credit are in the same economic plane, it would be incorrect to equate them, because these concepts have significant differences. Leasing and factoring are often viewed as very close alternatives, but in fact these are quite different tools.

Factoring, while it allows the manufacturer to use cash immediately after the shipment of goods, still involves the assignment of the right to collect debts, while leasing is the provision of means of labor for a certain percentage, and credit – the opportunity to use cash for certain compensation.

Tips for making skilled signage

On an average day, people encounter information provision in many places. This includes information in the form of skilled signage Singapore, to help you find your way. This could include signs along roads, at stations, in hospitals, and in other (often) public places. Often a lot of money is spent on as clear a signposting as possible. However, my (research) experience shows that this information sometimes leaves something to be desired. What should such information provision actually meet to have an effect?

Less is more

Nowadays you are thrown to death with all kinds of stimuli. In addition to useful information there is also a lot in between that you are not interested in at all. This has ensured that we have all become very selective in what we record and register. After several studies experts have also been able to draw this conclusion: the more information is shown, the less information is actually included. It is therefore important that only the most necessary information is shown.

Processing of scrap metal – What scrap does it happen?

Metal is one of the most recyclable materials around the world. There are no special problems in this area in Singapore either. Production of pig iron, steel, etc. extremely energy-intensive process and well known for scrap metal recycling and the use of scrap in production significantly reduces energy consumption and reduces the need for natural resources.

What types of metal are considered to be scrap?

Scrap metal is a variety of metal debris. There are black scrap, colored scrap and precious scrap. Black and colored scrap takes most points. The most common metals to be recycled include steel, iron, cast iron, copper, aluminum, brass, and lead. Precious metals are accepted less often, because for this the enterprise needs a special license. Before carrying the metal for recycling, call the reception point in advance or check the list of materials received via the Internet to make sure that the metal is accepted.

Tips for worthy farewell

If you or a loved one dies, a beautiful and dignified farewell is of great importance. It is not unwise to think about that now, because when the time comes, there is little time. Moreover, the next of kin have other things on their heads. While paying attention for organizing a funeral, the first thing to do is find out a professional good at funeral services Singapore.

What does a funeral cost?

The costs of a funeral can vary considerably, because these depend strongly on your personal wishes. One prefers a sober farewell, while the other wants to work out a lot. Roughly you have to count on 5,000 to 9,000.Many funeral insurance policies have a tool on their website with which you can calculate what you will lose on the basis of your wishes.Make sure you get a good picture of the costs, because these can be quite disappointing.

Understanding Bad Credit Loans and Role of a Co-signer

We are all aware of the importance of maintaining good credit so that we can survive today. Whether it’s for your mortgage, car loan or credit card, a credit rating greatly influences the interest rates offered, as well as the amount of loans available.

If you want to qualify for the most competitive loans, it is crucial to have a good credit rating and above all: keep it! While the most important element in determining your car loan rate is your credit rating, you should always be prepared by understanding your current situation. A bad credit score can lead to a higher interest rate, a smaller credit limit or even a simple denial from the start.

It is also important to note that your credit rating is not the only aspect that is checked when you apply for a car loan. Historical repossession, credit cards, canceled accounts and missed payments can also be taken into account when you apply for loan to a bad credit licensed money lender in Singapore.

Clients are also regularly audited and risk-rating policies are applied to categorize you into a group based on your credit rating. By default, those who are in a specific group, where the risk is greater than before, may end up with higher interest rates.

Role of a cosigner

The best licensed moneylender in Singapore will definitely ask for a co-signer when they do not want to take too much risk by lending money to an individual. This is why co-signers are contemporary saviors for someone in need of a loan. They play a vital role for those who have difficulty getting a car loan.

Co-signers usually have a good credit rating and agree to pay a borrower’s debt if the loan is not repaid. A lender cannot oblige you to have a co-signer if you qualify for yourself. However, if you learn that you need a co-signer for a loan, this means that the lender will not offer you a loan based solely on your own income and credit rating.

Do you have a co-signer?

A co-signer may be a spouse, a parent or a friend. It is important to make sure that your co-signer can afford to pay the debt if you do not succeed. If your co-signer finds himself in a situation where assuming the loan payment is likely to hurt him financially, you should probably find another person who can more easily take care of your loan. You can opt for the Bad credit licensed moneylender in Singapore now.

How does the co-signer affect your application?

When you apply for a car loan with a bad credit rating or an irregular credit history, adding a co-signer to your application will improve your credibility. A co-signer can also help you build a credit. Your co-signer on a loan may give you the opportunity to establish a better credit rating or help build a more consistent credit history.

For the Perfect Factoring Invoices for You Now

The choice of a suitable type of loan for business is done taking into account individual tasks and requirements. Among the most common credit programs for business is worth noting: Leasing with redemption rights in the long termfactoring invoices. Overdraft – loans for business in an amount exceeding the balance on the current account.

Financing of business when providing a business plan, justification of profitability

Which bank to choose?

Large federal banks are the ones. The main advantage can be considered a developed branch network. Consideration of an application for a loan for business development occurs quickly due to a well-established system of work with borrowers. But there is less flexibility – large banks are not ready to take into account the individual needs of customers. This is where the factoring invoices are important.

Medium-sized regional banks

Despite the smaller line of loans for business compared to federal banks, they benefit from good service in working with clients. As a rule, the average regional banks are better adapted to the needs of customers.

Small regional banks

Usually they are based on an individual approach to each client. But they are less willing to take risks, so there are frequent refusals in lending – usually prefer to work only with borrowers who have an account with this bank.

Transparent structure of ownership

The enterprise has a limited number of founders – individuals, between whom the relationship is fairly transparent (friends, relatives, etc.). In this case, the real owners of the company and the persons in the constituent documents must coincide. The head of the company is one of the founders, not an employee. The co-founder is the key contact person for the bank. Fully has all the information about the business, ready to build an open dialogue with the bank. The company has a production facility in the long-term lease, the availability of equipment (even in the ownership of the founders). A potential borrower is ready to provide the bank with a liquid and sufficient collateral. The company actively works with its current account, has a good credit history. Profitability of business, enough funds to fulfill short-term obligations.

 A large share of own funds in the liabilities of the company’s balance sheet

To whom the bank will not issue a loan

When applying to a bank, no one can be sure beforehand of a positive decision. But some businessmen do not have to count on getting a loan for business at all, including companies that work in the service sector for less than 3 months, and in industry – less than 6. Also, the bank can refuse if the money goes to finance the production or supply of weapons or military equipment, as well as for the production of alcohol and tobacco products.

 

Know form of transport is the most advantageous for export and import

If you want to ship goods from the Spain, you have two options: sea transport or air transport. And which of the two you choose depends mainly on how quickly you want the goods in your place. And of course of the price you want to pay for the transport. Which form of transport is most advantageous for you therefore depend mainly on where your supplier is located? In fact, three things are important first, where your supplier is located in Europe. Secondly, the amount of goods you want to transport and thirdly the weight of your goods. There are many companies available for truck load boards service. You just have to find the right one which fulfils your requirements.

Sea transport or air transport

The distances in Europe can be enormous and that is why the local transport of goods is relatively expensive.

Because of the considerable costs for domestic transport you can also choose to ship your goods by air. Then you do not have to transport the goods from anywhere without any objection. Instead, you can send your goods directly from your place to delivery destination by air transport. If the domestic distances are large, it is often even cheaper to opt for air transport. However, this depends on the quantity of goods and the weight of the goods you want to ship.

If you opt for sea transport, you can choose to ship your goods as LCL. LCL stands for “less container load.” This means that you share the capacity of a container with other importers of goods. The rule of thumb is that you can consider this if the volume of your goods is less than 15m 3 (cubic meters). Do your goods take up more than 15m 3 of space? Then it is most likely a better option to use a full container to transport your goods.

The weight limit is much higher for sea transport than for air transport. That is why the weight of your goods in sea transport is often not an obstacle, except if you want to import very heavy goods from other places.

Opportunities that you will have in your business through factoring

Factoring is a form of financing and a service. A factoring company can give you a credit or provide (largely) direct payment of your invoices. In addition, a factoring company can take over your debtor management. This way you can keep the cash flow going. And you save yourself the burden of the collection process.

Factoring consists of three parts:

Financing

In addition to or instead of, for example, a bank loan or crowdfunding, you can opt for factoring as a financing form. The factoring company provides you with a financial buffer. As a result, you immediately get working capital back and you can invest faster to expand or keep your business operations going.

Debtor management

The second component of factoring is the outsourcing of your debtor management. You can outsource your entire credit management to the factoring company or only one or more debtors (customer files).

Cover credit risk

A factoring company can also fully take over the risk that a debtor does not pay. You do not need to take out your own credit insurance.

Two types of factoring

Factoring can easily be divided into two main variants:

  1. Traditional factoring

With traditional factoring, you receive credit based on a percentage of your total outstanding debtor portfolio (number of customers + size of invoices). Most traditional factoring companies ask a fixed amount per year or a small percentage of your turnover (between 0.1 and 1 percent) in return. The major providers of this form of factoring are mainly banks or subsidiaries of banks and therefore have to comply with many protective but restrictive rules. As a result, you as a customer must meet many additional requirements. Not all providers also take over your credit management and there is no automatic hedging of the credit risk. Traditional factoring is particularly suitable for medium and large companies.

  1. Smart Services for You Now

With the companies you do not receive a fixed credit, but you can submit separate invoices. Within 48 hours the full submitted invoice amount will be paid minus the agreed costs for factoring. The factoring company usually requires between 3 and 6 percent of the invoice amount and in return accepts the recovery procedure and the associated risk. This way of factoring is more suitable for SMEs. Many business holders have gained huge profits through factoring services. You would undoubtedly get many advantages if you get proper Factoring Company Guide and factoring companiesservices.