New to Factoring?

For those who aren't familiar with factoring, it is basically a fast way to get cash to run your business.

Factoring is Not a Loan

When you send your customers an invoice, they usually have 30 days to pay you back. Factoring companies will give you the bulk of the cash up front, sometimes within 24 hours, and collect the payments from your customers themselves. Once the invoices are paid in full, you’ll get the balance left over, minus a small fee.


Factoring Doesn't Require Debt

Sounds simple enough – fast cash for your business – no loans, no debt.

So how do you go about choosing the best factoring company?

Not all of them are created equal. Not all of them will give you the same level of service you need to help grow your business.

Everyone claims they have the simplest rate structure in the industry, no long-term contracts, same day funding, no up-front fees, no monthly minimums or maximums, etc., etc., etc.

We also offer these same benefits, but we GO THE EXTRA MILE FOR YOU that other factoring companies don’t.

Here’s Why We Are The Factoring Company You Need For Your Business

No other factoring company matches our level of superior service and offerings.


As you can see, we simply have more to offer you.

Other factoring companies don’t even compare.
Columbia

And Not All Factoring Companies Can Say This:

More than half of our new business comes through client referrals.

So, Can Your Company Use Factoring?

Of Course! Companies of all sizes, from small privately-owned companies to large multi-national corporations, use factoring as a way to increase their cash flow. Factoring spans all industries, including trucking, transportation, manufacturing and distribution, textiles, oil and gas, staffing agencies and more.

Companies use the cash generated from factoring to pay for inventory, buy new equipment, add employees, expand operations—basically any expenses related to their business. Factoring allows a company to make quicker decisions and expand at a faster pace.

Unlike a bank loan, factoring has…

  • No principle or interest to pay over time
  • No debt to repay
  • Unlimited funding potential – no caps
  • Fast funding – no waiting months like at a bank
  • Approval is based on the strength of your clients, not your credit
  • Startups are welcome in using funding services

Some of the benefits you receive with factoring are:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Information for the city of Columbia

"

Columbia is the state capital and largest city in the State of South Carolina.The population was 129,272 according to the 2010 census. The 2013 United States Census estimates put the city at 133,358. Columbia is the county seat of Richland County, but a portion of the city extends into neighboring Lexington County. The city is the center of a metropolitan statistical area of 793,779, the second largest within the state. The name ""Columbia"" was a poetic term for the Americas derived from Christopher Columbus.Located 13 miles (21 km) northwest of South Carolina's geographic center, Columbia is the primary city of the Midlands region of South Carolina, which comprises several counties in the central portion of the state.

 

The city lies at the confluence of two rivers, the Saluda and the Broad, which merge at Columbia to form the Congaree River, which is popular with paddlers and kayakers in the area. The state's flagship and largest university, the University of South Carolina, is located in Columbia.

 

In 1860, the city was the location of the South Carolina Secession Convention, which marked the departure of the first state from the Union in the events leading up to the Civil War.Columbia enjoys a diversified economy, with the major employers in the area being South Carolina state government, the Palmetto Health hospital system, Blue Cross Blue Shield of South Carolina, Palmetto GBA, and the University of South Carolina. The corporate headquarters of Fortune 1000 energy company, ANA, are located in the Columbia suburb of Cayce. Other major employers in the Columbia area include Sciences Corporation, Fort Jackson, the U.S. Army's largest and most active initial entry training installation, Richland School District One, Humana/TriCare, and the Parcel Service, which operates its Southeastern Regional Hub at the Columbia Metropolitan Airport. Major manufacturers such as Technology have facilities in the Columbia area. There are over 70 foreign affiliated companies and fourteen Fortune 500 companies in the region. The gross domestic product (GDP) of the Columbia metropolitan statistical area as of 2010 was $31.97 billion, the highest among MSAs in the state.[46]

 

"

 

Information for the state of South Carolina

South Carolina's manufacturing industries have historically depended on the state's agricultural products as well as on water power. For example, the huge textile and clothing industries, centered in the Piedmont, are based on that region's cotton crop; lumbering and related enterprises (such as the manufacture of pulp and paper) rely on the c.12.5 million acres (5 million hectares) of forestland that cover the state, the longleaf and loblolly pine are prevalent. Other leading manufactures are chemicals, machinery, and automobiles.

 

South Carolina's mineral resources have been of minor importance in the state's economy; except for some gold, most are nonmetallic cement, stone, clays, and sand and gravel. In agriculture, tobacco and soybeans now rival cotton as South Carolina's chief crops. Broiler chickens and cattle are economically important, and peanuts, pecans, sweet potatoes, and peaches are grown in abundance. Fishing is a major commercial enterprise; the chief catches are blue crabs and shrimp. Military bases and nuclear facilities are important to the economy, and the tourist industry today ranks as the state's chief source of income.

 

If you need capital right now or are looking to expand then factoring is the way to go.  

Before making your final decision and entering into a factoring agreement, check out the fees applicable and the terms of the contract. Both of these can vary a lot, depending on the factoring company and the industry it is serving. -South Carolina Factoring Companies

 

 

HOW TO GET CASH AND GROW YOUR COMPANY  

South Carolina Factoring Companies Articles

Invoice Factoring: Helping Temp Staffing Agencies Grow

 

When a temp agency is experiencing a cash flow problem, they generally have two options: the first option is to apply to a bank or other lender for a business loan, and the second is to use Invoice Factoring. In this article we'll take a look at why Invoice Factoring may be the best option.

 

Many companies who bill their clients have discovered that Invoice Factoring is a very effective way of addressing cash flow issues, and this is also true for temp staffing agencies. Typically, temp agencies don't get paid by their clients until such time as their job vacancy has been filled and the employee hired has actually commenced work, which means that it's very common for temp agencies to experience cash flow problems.

 

Any advertising required to successfully place job candidates is paid for by the temp staffing agency, meaning that they're not able to invoice their client until they've found a suitable candidate and the candidate has actually started work. So, the temp staffing agency must wait to get paid.

 

Why Invoice Factoring Works Well for Temp Staffing Agencies

 

Temp staffing agencies are typically paid per hour, with the amount due being based on the number of hours their placement has worked. Of course, during this time they still have to pay their own bills, and these might include rent, payroll, advertising costs, utilities, and so on. So, it's easy to see that this can put a big strain on a temp agency's cash flow.

 

Many expenses incurred by a temp staffing agency can't be put off, so the agency must be able to access cash straight away: their employees need to be paid on time, as do their rent and utility bills. All businesses require office supplies, so money must be available to keep the business running smoothly. In addition, temp agencies must have money on hand for advertising job openings. For all of these reasons, it's not either feasible or practical for a temp staffing agency to apply for a business loan, then sit, wait, and hope to be approved.

 

These businesses need money and they need it now; and that's why Invoice Factoring may be the perfect solution to their cash flow problem.

 

Explaining Invoice Factoring

 

When a business makes the decision to use Invoice Factoring in order to generate cash, their cash-flow problem can be resolved almost immediately. In many cases, the business can secure up to 92% of the value of their invoice within 24 hours! A word of caution though: if this is the first time the temp agency has worked with a factor it could take longer - somewhere between four and seven days.

 

Any temp staffing agency that's experiencing a cash flow crisis, or even agencies that only occasionally experience cash flow problems, should do as much research as they can to learn about factoring and how it might help their business grow. With this knowledge they can then consider Invoice Factoring as and when the need arises. Factoring really is the perfect way for a business to access cash money when it's most needed. In many cases, once a relationship has been established with the factor, the money will be delivered within 24 hours.

 

Cash When You Need It!

 

Of course one of the major bonuses of invoice factoring is that temp staffing agencies no longer need to worry about whether they will or won't qualify for a bank loan, because factoring will take care of their cash flow crisis. All they need to do is provide their chosen factor with the invoices they wish to sell, complete with the time-sheets for each employee, and the cash that's due and payable to them can be deposited into their bank account within 24 hours. Now, temp agencies will have no problems meeting their monthly obligations, and best of all, there'll be no need to take on new debt.

 

 

If you need capital right now or are looking to expand then factoring is the way to go.

 

 

South Carolina Factoring Companies Articles

Bookkeeping Mistakes Commonly Made by Freight Brokers

 

It’s true that freight brokers shoulder a lot of responsibility; from matching shippers and carriers, to ensuring that each and every piece of cargo arrives at its proper destination. Freight brokers also have the added responsibility of accurate bookkeeping, because failure to prioritize bookkeeping can result in the loss of money.

 

Below we’ve listed some common bookkeeping mistakes made by freight brokers, and how to avoid them–

 

Handling the Accounting In-House

 

Many business owners try to save money by handling the books themselves, or perhaps delegating this very important task to a family member or an inexperienced employee. Sure, you may save time and money initially, but errors can be costly: when you attempt DIY accounting you could well end up with more expensive financing terms, higher bond premiums, or a number of other unforeseen expenses. It’s very important that you hire a competent bookkeeper because, not only will you save money, but you’ll know that the job will be done accurately, quicker, and more efficiently.

 

We understand only too well that running any business is time-consuming and hard work, and many freight brokers are simply too busy doing their day-to-day tasks to focus on bookkeeping tasks, such as the monthly reconciliation of credit card accounts and bank accounts. It’s through reconciling statements that you get a clear idea of how much credit or cash you actually have, and you can also pick up on any errors that may have occurred.

 

It can be so tempting to postpone this rather tedious task, but the truth is that your credit card statements and bank statements must be reconciled every month, preferably the moment each statement becomes available. In this way you’ll be able to identify any potential problems in a timely manner; problems such as lost checks, missing deposits, fraudulent charges, and so on.

 

Failing to Track Invoices and Receivables

 

You’re not going to get paid if you’re using poor accounting practices with your accounts receivable. Let’s face it, getting paid equals cash, and cash is the lifeblood of every business. An experienced freight broker understands that your cash flow can be strained by the delay between when you pay your carriers and when you receive payment from your customers. If you’re finding that tracking and collecting invoices is taking too long, why not consider invoice factoring? An invoice factoring company will purchase your invoices for a small fee, with the bonus being that you get paid immediately, plus you’re spared the time and expense of having to deal with collections.

 

Don’t Forget Liabilities

 

One of the major considerations a surety has when looking at your business financials in order to underwrite a bond is whether you have sufficient assets to cover your liabilities. Many times we see an inexperienced bookkeeper recording a liability, but when the payment is made they forget to reverse the liability. This is a serious error because it results in liabilities being overstated and net income being understated, which makes your business appear to be less financially secure than it really is. These serious errors can be avoided by employing the services of an experienced bookkeeper. We also recommend that you have another set of eyes (which may be an owner or a CPA) regularly review the balance sheet to check for unusual account balances

 

Too Many Expense Categories

 

Another common error we often see with inexperienced bookkeepers is creating too many expense categories, or miscategorizing expenses. Generally, most industries and businesses have a standard set of expense categories, and when a loan underwriter or surety sees too many categories, or the miscategorizing of expenses, it stands out like a big red flag. It tells them that your books are not well prepared. Use an accountant or experienced bookkeeper to correctly set up your accounting software right from the beginning, and don’t automatically add new expense categories unless careful consideration has been made. Remember to ask your accountant or CPA for advice, because they’ll be able to guide you on how to classify expenses.

 

Incomplete Information on Invoices

 

It’s very important that, when you invoice your customers, you provide sufficient detail on each line item. Do you invoice by weight, per piece, or per mile? Or is the charge a flat fee? If there are additional charges to invoice, such as reimbursements for fuel or fees, these should be listed as separate line items. In addition, these charges must be clearly and accurately detailed in order to avoid any confusion. When you send invoices to your customers that include clear and concise details, it prevents pushback from your clients. If there’s missing information on your invoices and your customers are confused by unrecognizable charges, it could well cause a delay in payment, which is the very last thing business owners need.

 

Not Understanding the Functionality of Accounting Software

 

Many freight brokers purchase an accounting software package because they’re anxious to get their business up and running, but they fail to learn how to use it correctly. This is probably not an issue if you’re already outsourcing your accounting and bookkeeping tasks; but if you’re using this software in any way at all, perhaps to enter checks and run reports, it’s important that you spend some time learning how to use all the available functions. When used correctly, the right accounting software can save you a lot of time, in addition to providing real-time information on the state of your business. It’s this information that helps you make important business decisions!

 

 

 

 

South Carolina Factoring Companies Articles

Business Is Booming but Your Company’s Cash Strapped!

 

A business needs good cash flow for many reasons, and many businesses have learned the hard way that business can be booming but they can still suffer from cash flow problems. There are many scenarios where a business might urgently require access to cash: it could be due to the sudden growth or expansion of a business, a major transaction may need to be expanded, perhaps there’s a need to purchase equipment or even to employ more personnel.

 

Interestingly, research shows that many businesses (both small and medium-size) fail, not because business is bad, but because they experience difficulties when trying to meet short-term financial responsibilities. So how can a growing and profitable business get into serious financial trouble, or even go broke? It seems so contradictory, but on closer examination you’ll see that it’s not surprising at all.

 

Many Businesses Experience a Cash Flow Dilemma

 

It’s so easy for a business to get into a situation where they have a cash flow problem: you only need one or two larger accounts to default on payment, or to take an additional 60 or 90 days to pay, and now you’ve got a cash flow problem!

 

Traditionally, business owners have depended on conventional lending sources for a business Line of Credit, and this often includes short-term Bridging Finance. But there are also many people in business who’ve used their personal credit cards for business-related expenses. Once business owners have exhausted traditional means of funding, the process of acquiring extended financing can become a time-consuming, trying, and often impossible task.

 

Factoring

 

Fortunately, today, we have a viable and effective alternative for business owners to get through cash strapped periods, particularly during periods of expansion and business growth. This innovative form of financing is known as Factoring; it’s also sometimes referred to as Asset Based Lending or Accounts Receivable Financing.

 

Factoring has become a workable and realistic solution for many businesses, particularly when cash flow is uncertain and threatens the viability, or even survival, of the business.

 

How Does Factoring Work?

 

Basically, when a business has credit-worthy accounts receivables, the factoring process provides the business with an instant cash injection on those receivables. So, sometimes, when a lender says ‘no’ to a business, a factoring company may say ‘yes’, thus offering the much needed cash injection that so many businesses require to move forward.

 

Factoring companies understand the financial needs of their trucking clients and react very quickly to provide them with the professional, personalized, hands-on attention that they require. Freight Bill Factoring is actually a very simple process: it provides a business with instant cash flow in order to satisfy its cash needs, which in turn enables the business to grow and prosper.

 

It works like this! Your company has quality accounts receivables, and needs a cash boost. A factoring company may purchase just one, or a group of your receivables, and in return will immediately give you up to 100% (less fees applicable) of the face value of these accounts. Once the customer invoice has been paid in full the balance is forwarded on. Yes, factoring costs more than other means of lending, but factoring clients believe the benefits far outweigh the costs.

 

The Benefits of Factoring

 

Possibly the greatest benefit of factoring is the short turnaround time, because factoring companies don’t have a lengthy loan approval process, unlike banks and other lenders. This means that, with factoring, trucking business owners can have money in-hand by the end of the same working day!

 

In order to receive approval as a factoring customer, a trucking business must first-of-all be a reputable trucking business, and secondly, it must have credit-worthy customers. Once a business has been approved for factoring, funding will be provided on the same day. It’s important to note, also, that ongoing financing is only limited by the amount of receivables available for purchase.

 

In the last decade we’ve seen factoring grow very quickly, and today it’s become a financially feasible alternative for many trucking companies. Many trucking companies have stated that Freight Bill Factoring has made it possible for them to process orders and undertake loads from brokers that would otherwise have been impossible because of a lack of financing. Freight Bill Factoring is here to stay, and it clearly has a place in today’s business environment. Because of factoring, a trucking company can expand its customer base, increase loads, and even survive a seasonal slump. Thanks to Freight Bill Factoring, many businesses have been able to expand and grow, and easily survive in what has become a very competitive industry.

 

 

 

You Can Find More Information at  http://www.temporarystaffingcompany.org/
and at www.factoringrecievables.com/

Call Us Today at: 1-888-266-0197

 

Watch our Factoring Company Video below to see how we work for you.

 

 


 

Get MONEY NOW for your outstanding receivables.

 

Seattle Factoring Companies and Cities Nationwide

 

Alabama Factoring Companies

 

Alaska Factoring Companies

 

Arizona Factoring Companies

 

Arkansas Factoring Companies

 

California Factoring Companies

 

Colorado Factoring Companies

 

Connecticut Factoring Companies

 

Delaware Factoring Companies

 

Florida Factoring Companies

 

Georgia Factoring Companies

 

Hawaii Factoring Companies

 

Idaho Factoring Companies

 

Illinois Factoring Companies

 

Indiana Factoring Companies

 

Iowa Factoring Companies

 

Kansas Factoring Companies

 

Kentucky Factoring Companies

 

Louisiana Factoring Companies

 

Maine Factoring Companies

 

Maryland Factoring Companies

 

Massachusetts Factoring Companies

 

Michigan Factoring Companies

 

Minnesota Factoring Companies

 

Mississippi Factoring Companies

 

Missouri Factoring Companies

 

Montana Factoring Companies

 

Nebraska Factoring Companies

 

Nevada Factoring Companies

 

New Hampshire Factoring Companies

 

New Jersey Factoring Companies

 

New Mexico Factoring Companies

 

New York Factoring Companies

 

North Carolina Factoring Companies

 

North Dakota Factoring Companies

 

Ohio Factoring Companies

 

Oklahoma Factoring Companies

 

Oregon Factoring Companies

 

Pennsylvania Factoring Companies

 

Rhode Island Factoring Companies

 

South Carolina Factoring Companies

 

South Dakota Factoring Companies

 

Tennessee Factoring Companies

 

Texas Factoring Companies

 

Utah Factoring Companies

 

Vermont Factoring Companies

 

Virginia Factoring Companies

 

Washington Factoring Companies

 

West Virginia Factoring Companies

 

Wisconsin Factoring Companies

 

Wyoming Factoring Companies

 

Alabama Factoring Company

 

Alaska Factoring Company

 

Arizona Factoring Company

 

Arkansas Factoring Company

 

California Factoring Company

 

Colorado Factoring Company

 

Connecticut Factoring Company

 

Delaware Factoring Company

 

Florida Factoring Company

 

Georgia Factoring Company

 

Hawaii Factoring Company

 

Idaho Factoring Company

 

Illinois Factoring Company

 

Indiana Factoring Company

 

Iowa Factoring Company

 

Kansas Factoring Company

 

Kentucky Factoring Company

 

Louisiana Factoring Company

 

Maine Factoring Company

 

Maryland Factoring Company

 

Massachusetts Factoring Company

 

Michigan Factoring Company

 

Minnesota Factoring Company

 

Mississippi Factoring Company

 

Missouri Factoring Company

 

Montana Factoring Company

 

Nebraska Factoring Company

 

Nevada Factoring Company

 

New Hampshire Factoring Company

 

New Jersey Factoring Company

 

New Mexico Factoring Company

 

New York Factoring Company

 

North Carolina Factoring Company

 

North Dakota Factoring Company

 

Ohio Factoring Company

 

Oklahoma Factoring Company

 

Oregon Factoring Company

 

Pennsylvania Factoring Company

 

Rhode Island Factoring Company

 

South Carolina Factoring Company

 

South Dakota Factoring Company

 

Tennessee Factoring Company

 

Texas Factoring Company

 

Utah Factoring Company

 

Vermont Factoring Company

 

Virginia Factoring Company

 

Washington Factoring Company

 

West Virginia Factoring Company

 

Wisconsin Factoring Company

 

Wyoming Factoring Company

 

Factoring Companies In Alabama

 

Factoring Companies In Alaska

 

Factoring Companies In Arizona

 

Factoring Companies In Arkansas

 

Factoring Companies In California

 

Factoring Companies In Colorado

 

Factoring Companies In Connecticut

 

Factoring Companies In Delaware

 

Factoring Companies In Florida

 

Factoring Companies In Georgia

 

Factoring Companies In Hawaii

 

Factoring Companies In Idaho

 

Factoring Companies In Illinois

 

Factoring Companies In Indiana

 

Factoring Companies In Iowa

 

Factoring Companies In Kansas

 

Factoring Companies In Kentucky

 

Factoring Companies In Louisiana

 

Factoring Companies In Maine

 

Factoring Companies In Maryland

 

Factoring Companies In Massachusetts

 

Factoring Companies In Michigan

 

Factoring Companies In Minnesota

 

Factoring Companies In Mississippi

 

Factoring Companies In Missouri

 

Factoring Companies In Montana

 

Factoring Companies In Nebraska

 

Factoring Companies In Nevada

 

Factoring Companies In New Hampshire

 

Factoring Companies In New Jersey

 

Factoring Companies In New Mexico

 

Factoring Companies In New York

 

Factoring Companies In North Carolina

 

Factoring Companies In North Dakota

 

Factoring Companies In Ohio

 

Factoring Companies In Oklahoma

 

Factoring Companies In Oregon

 

Factoring Companies In Pennsylvania

 

Factoring Companies In Rhode Island

 

Factoring Companies In South Carolina

 

Factoring Companies In South Dakota

 

Factoring Companies In Tennessee

 

Factoring Companies In Texas

 

Factoring Companies In Utah

 

Factoring Companies In Vermont

 

Factoring Companies In Virginia

 

Factoring Companies In Washington

 

Factoring Companies In West Virginia

 

Factoring Companies In Wisconsin

 

Factoring Companies In Wyoming

 

Factoring Companies Al

 

Factoring Companies Ak

 

Factoring Companies Az

 

Factoring Companies Ar

 

Factoring Companies Ca

 

Factoring Companies Co

 

Factoring Companies Ct

 

Factoring Companies De

 

Factoring Companies Fl

 

Factoring Companies Ga

 

Factoring Companies Hi

 

Factoring Companies Id

 

Factoring Companies Il

 

Factoring Companies In

 

Factoring Companies Ia

 

Factoring Companies Ks

 

Factoring Companies Ky

 

Factoring Companies La

 

Factoring Companies Me

 

Factoring Companies Md

 

Factoring Companies Ma

 

Factoring Companies Mi

 

Factoring Companies Mn

 

Factoring Companies Ms

 

Factoring Companies Mo

 

Factoring Companies Mt

 

Factoring Companies Ne

 

Factoring Companies Nv

 

Factoring Companies Nh

 

Factoring Companies Nj

 

Factoring Companies Nm

 

Factoring Companies Ny

 

Factoring Companies Nc

 

Factoring Companies Nd

 

Factoring Companies Oh

 

Factoring Companies Ok

 

Factoring Companies Or

 

Factoring Companies Pa

 

Factoring Companies Ri

 

Factoring Companies Sc

 

Factoring Companies Sd

 

Factoring Companies Tn

 

Factoring Companies Tx

 

Factoring Companies Ut

 

Factoring Companies Vt

 

Factoring Companies Va

 

Factoring Companies Wa

 

Factoring Companies Wv

 

Factoring Companies Wi

 

Factoring Companies Wy