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.
Albuquerque

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 Albuquerque

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Albuquerque lies at the center of the New Mexico Technology Corridor, a concentration of high tech private companies and government institutions along the Rio Grande. Larger institutions whose employees contribute to the population are numerous and include National Laboratories, Kirtland Air Force Base, and the attendant contracting companies which bring highly educated workers to a somewhat isolated region. Intel operates a large semiconductor factory or ""fab"" in suburban Rio Rancho, in neighboring Sandoval County, with its attendant large capital investment. man is located along I 25 in northeast Albuquerque, and Pedic is located on the West Mesa next to I 40.The solar energy and architectural design innovator located his company, works, to the region in the late 1960s; and Los Alamos National Laboratory, Sandia, and Lawrence Livermore National Laboratory cooperate here in an enterprise that began with the Manhattan Project.

 

In January 2007, opened an 800,000 square foot (74,000 m2) mattress factory in northwest Albuquerque. ., announced in January 2008 they will open a 200,000 square foot (19,000 m2) facility manufacturing receivers for concentrated solar thermal power plants (CSP) and 64MW of photovoltaic (PV) modules. The facility closed in 2012. Magazine rated Albuquerque as the best city in America for business and careers in 2006 and as the 13th best (out of 200 metro areas) in 2008. The city was rated seventh among America's Engineering Capitals in 2014 by Magazine. Albuquerque ranked among the Top 10 Best Cities to Live by & World Report in 2009 and was recognized as the fourth best place to live for families by the TLC network. It was ranked among the Top Best Cities for Jobs in 2007 and among the Top 50 Best Places to Live and Play by National Geographic Adventure magazine.

 

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Information for the state of New Mexico

Because irrigation opportunities are few, most of the arable land is given over to grazing. There are many large ranches, with cattle and sheep on the open range year round. In the dry farming regions, the major crops are hay and sorghum grains. Onions, potatoes, and dairy products are also important. In addition, pinon nuts, pinto beans, and chilis are crops particularly characteristic of New Mexico. Pinewood is the chief commercial wood. Much of the state's income is derived from its considerable mineral wealth.

 

New Mexico is a leading producer of uranium ore, manganese ore, potash, salt, perlite, copper ore, natural gas, beryllium, and tin concentrates. The federal government is the largest employer in the state, accounting for over one quarter of New Mexico's jobs. A large percentage of government jobs in the state are related to the military; there are several air force bases, along with national observatories and the Los Alamos and Sandia laboratories.

 

Climate and increasing population have aided New Mexico's effort to attract new industries; manufacturing, centered especially around Albuquerque, includes food and mineral processing and the production of chemicals, electrical equipment, and ordnance. High-technology manufacturing is increasingly important, much of it in the defense industryPetroleum and coal are also found in smaller quantities

 

You no longer have to waste time in collecting on invoices.  

Factoring is available for companies of all sizes, ranging from a one person business to Fortune 500 companies. Every business can use factoring as an effective way of increasing their cash flow -Factoring Companies Nm

 

 

HOW I IMPROVED MY CASH FLOW IN ONE EVENING  

Factoring Companies Nm Articles

The Difference between Accounts Receivable Financing and Factoring

 

Today, it’s not as easy for businesses to access finance as it was in past years, and more companies are being forced to look for alternative, non banking financing options in order to access the capital they require to help their business grow.

 

Two of the more popular tools available to cash strapped business owners are Accounts Receivable Financing (A/R Financing) and factoring. Some business owners believe these two are the same, but there are, in fact, some small yet significant differences.

 

What Is Factoring?

 

Factoring is when a commercial finance company, also known as a factor or factoring company, purchases a business’s outstanding accounts receivable. At that time, the factor will typically advance the business somewhere between 70% and 90% of the invoice’s value. Then, once the invoice is collected from the customer, the remaining balance – minus a factoring fee – is released to the business. The factoring fee could range from between 1.5% and 5.5%. It’s calculated on the total face value of the invoice and depends on how many days the funds are in use and other aspects, like the collection risk.

 

When a business has a factoring contract they can usually choose which invoices they want to sell to the factor: it’s not generally an all or nothing process. Once the factor has purchased an invoice they become responsible for managing the receivable until the account has been paid. Essentially, the factor becomes the business’s accounts receivable department and credit manager, analyzing credit reports, performing credit checks, mailing invoices, and documenting payments.

 

What Is Accounts Receivable Financing?

 

Accounts Receivable Financing is more similar to a traditional bank loan, however there are some key differences. Bank loans are secured with collateral; which might be real estate, the business owner’s personal assets, or plant and equipment; whereas Accounts Receivable Financing is backed by the business’s assets related to the Accounts Receivable. When a business has an Accounts Receivable financing agreement, a borrowing base is established at each draw against which the business is able to borrow money: this would typically be between 70% and 90% of the qualified receivables.

 

Between 1% and 2% is typically charged as a collateral management fee against the outstanding amount, and interest is only calculated as and when the money is advanced. An invoice must be less than 90 days old in order to count towards the borrowing base, and the finance company must deem the business credit worthy. There may also be other conditions to fulfil.

 

So, you can see that there are many similarities between Accounts Receivable financing and factoring; however, one is the sale of an asset (receivables or invoices) to a third party, while the other is actually a loan. In many ways, though, they do act similarly. Below we’ve listed the main features of each so you can determine which would be the best fit for your company.

 

Accounts Receivable Financing

 

• Generally, Accounts Receivable Financing is not as expensive as factoring;
• It can be easier to move from this type of financing to a traditional bank line of credit once a business becomes bankable again;
• Typically, a minimum of $75,000 per month is required in sales to qualify, so this type of financing may not be available to small companies;
• Due to the fact that the business will be required to submit all of its Accounts Receivable to the finance company, this type of financing can be less flexible than factoring.

 

Factoring

 

• It’s quite easy to qualify for factoring, and factoring is the ideal solution for start ups and financially challenged companies;
• Because businesses can decide which invoices they want to sell to the factor, factoring offers more flexibility than Accounts Receivable Financing;
• The company is able to track total costs on an invoice by invoice basis because factoring has a simple and straightforward fee structure.

 

In Conclusion

 

Today we see both Accounts Receivable Financing and factoring as traditional sources of financing; effective when traditional bank financing is not an option. Factoring can carry a business through a period when an immediate cash input is required.

 

Somewhere between 12 and 24 months most companies are generally able to repair their financial situation and once again become bankable. However, some companies in certain industries continue factoring their invoices indefinitely.An example of this is the trucking industry, which relies heavily on factoring for cash flow injections.

 

 

 

You no longer have to waste time in collecting on invoices.

 

 

Factoring Companies Nm Articles

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Factoring

 

Invoice factoring
trucking factoring companies
factoring companiesp> 

As the owner of your own business, you may be more than aware already of the difficulty in making sure that cash flow issues do not become a problem down the line. After all, the worst thing that can possibly happen for your business is to find yourself embroiled in a long and difficult situation that leaves you forever trying to find two pennies to rub together.

 

For any business in this situation, the problem can come for waiting for work to clear up and actually be paid into your account. Invoices, cheques and the like can take some time to actually processed which can leave you with short-term cash flow issues. Thankfully, there are options out there for businesses to look into – and one of these is factoring companies.

 

Factoring companies will, in exchange for your invoices, provide you with the cash today so that you don’t need to worry about the waiting period that could make paying the bills and getting materials more difficult. With this type of setup, invoice factoring can become incredibly useful for many businesses who need to get out of a cash trap which they have found themselves in.

 

Because, depending on the size of the job, it can take up to 60 days for some businesses to get paid then it’s important to cover your own back and not leave yourself short in that day. after all, how many businesses have two months revenue just lying there to cover all the losses until they get paid?

 

This is especially true of trucking companies. They tend to deal with lots of invoices which means a significant amount of running around and donkey work for the business owner themselves. Trying to get paid in time can become an incredible hassle and this is why you get specific trucking factoring companies who are happy to help out truckers specifically.

 

As we all know, trucking is an incredibly large industry with many companies out there employing hundreds of drivers. Unfortunately, many of these drivers can spend night in the cold or hungry as they are still waiting for work from six weeks ago to actually pay them. When this is the situation for a trucking company, turning to factoring companies for assistance might be the best choice left.

 

This means that a trucking company can pay the wages of the staff, keep all the vans topped up with fuel and continue to scale, grow and expand without always waiting for the never-never with money which is taking forever to arrive coming in. businesses running without a factoring model put in place are leaving themselves in significant risk, as competitors cash out fast and continue to expand.

 

There’s genuinely nothing to be worried about when it comes to using a Factoring company – they aren’t like a payday loan firm or somebody who is going to leave you with a huge pile of debt to apy back. Although you are technically borrowing a loan, so long as you only ever give them genuine invoices from work you have already finished you are merely speeding up the payment process.

 

In the United States, where trucking companies thrive, factoring companies are not considered borrowing in any capacity. This confidential agreement then allows both parties to profit and enjoy a comfortable future – it gives the factoring company a guaranteed asset of income to add to the list and it gives the trucking firm a wad of cash that they worked hard to earn.

 

The trucking company will usually need to pick up the invoice and cash it in still, and then make the payments back to the factoring company. Because it’s a confidential agreement, and it can look bad for a business to be involved in this type of short-term finance even though it’s perfectly legal and a very common practice, it’s usually in the hands of the company to get the money for the factor.

 

This is an extremely old business type and has been used for many years by many different types of work – but none more so than truckers. While you may miss out on a small part of the money , something like 15% depending on who you work with, it means that you are getting the money today and can actually start putting some food on the table.

 

After all, an IOU or an invoice is not going to be you fed and washed, is it? For trucking companies when the money can be good one day and gone the next, it’s up to the drivers to work sensibly and to ensure they are leaving themselves with a significant amount of time and finance to get through the week until they are paid again.

 

So the next time your trucking business is having some short-term cash flow issues and you are spending too much time chasing up slow paying clients, why not start considering to use factoring businesses as a way to change your motive and give yourself a more comfortable future in the eyes of your trucking staff and your bank balance?

 

 

"

 

 

Factoring Companies Nm Articles

How Factoring Saved A Staffing Agency

 

The Bellosa Temporary & Permanent Hiring Agency has been experiencing a major uptick in business since the unemployment crisis began. The unemployed and underemployed workers have been keeping the phones ringing. The staffing agency is also fielding a lot of calls from employers too, looking for just the right hire. Company President and Vice President, Laurie Bell and Ted Stevens, have not experienced a boom in business since they first opened the doors in 2009, during the recession. They had an idea then that this would be a profitable venture.

 

The mantra that Laurie and Ted live by is that there’s always going to be people searching for work and of course employers will always be on the lookout for good workers. This is especially true in healthcare staffing, the industry they specialize in. This seemed to be a safe bet for them as they embarked on this venture, but with any small business, the only way to keep the doors open is to keep pressing forward and out perform the competition.

 

In a relatively short period of time Laurie and Ted had built a nice sized business, they were able to hit the ground running with some brilliant marketing programs and a number of contracts from insiders. They grew rapidly, the timing couldn’t have been better and they were very lucky in this aspect. By the fall of 2011 Laurie and Ted had weathered some ups and downs but they did have some solid clients like a few big insurance companies and a university hospital close by. These clients always paid their invoices on time. But they did start to notice a decrease in accounts receivables from some smaller clients such as rehab centers and private practices.

 

As winter approached they recalled previous winters and holiday seasons and realized that accounts receivables usually did slow down during this time. Laurie and Ted made the decision to delay their late payments until after the New Year. This plan didn’t really appeal to them as it’s no way to start a New Year, but they seemed to have no other options.

 

When New Year’s had come and gone they realized that their Accounts Receivables had gone from 30 days past due to 60 days past due. Before meeting with their accountant Scott, they’d decided something had to be done, but they didn’t know what.

 

Sitting in the conference room with Scott they listened as pulled all the figures up on his iPad saying,“Okay you two, I’ve been looking over the files you sent over and I can certainly see why you’re worried about your late A/Rs but there may be a way to fix this. Do either of you know what factoring is?” Scott inquired.

 

Laurie and Ted looked at each other quizzically, and then Laurie said “I think it rings a bell, but I’m not really sure. Can you explain it?”

 

Scott began laying out the details, “You are sitting on a pile of invoices that are past due. The more time that goes by without them being paid, the bigger the bind this puts your business in. It makes it very difficult for you to grow, much less hire anyone new. If you don’t have enough cash coming in . ”

 

Ted interrupted with, “Then it could make it difficult to take on any new business because we wouldn’t be able to hire the additional personnel we need and meet our weekly payroll. We need an inflow of cash and we really can’t wait. If we have to wait any longer on these invoices we’ll be in trouble.”

 

Scott jumped in saying, “And this is precisely why I wanted to discuss factoring with you. The factoring company will purchase the invoices you are sitting on that are up to 3 months late, which gives you the cash you need now.” He then showed him a chart on a piece of paper he placed in front of them.

 

Laurie began to carefully scrutinize it asking, “Is this the fee schedule?”

 

Scott answered, “Yes it’s all right there. The factoring company makes 1% to 3% of the total amount of each invoice they purchase.”

 

“That’s sounds like a good deal to me”, Ted said.

 

The three of them sat there and talked this over for a while and then Laurie and Ted made the decision to go forward realizing this was the best way to keep them afloat. They knew if they couldn’t accommodate all the new clients they were acquiring the competition would get them and they would go down, they could just not afford to turn any business away.

 

They now needed to fill out an application and submit it to the factoring company and they also needed to show them a few back invoices, undergo a credit check for their company. Credit checks would also need to be done on the companies owing the debts that the factoring company would be purchasing.

 

It didn’t take long for Bellosa’s credit to be approved and the creditors’ as well. Before long the factoring company purchased the overdue invoices and Laurie and Ted got the influx of cash they needed to cover things and allow them to continue growing their business.

 

The next time Laurie and Ted met with their accountant Scott, there were smiles all around.Scott said, “I’ve taken a look at your books so I know that factoring was the right solution for you.”

 

“It worked perfectly”, Laurie stated and went on to say, “The tiny amount we paid out for this influx of cash was certainly worth it.”

 

Ted chimed in with, “Without a doubt! Whatever the fees were we made back and more since we were now able to hire more personnel so we could take on more business. It worked out for us and for them I would say!”

 

“That’s what’s great about factoring!” Scott exclaimed with a look of satisfaction on his face.

 

 

You Can Find More Information at  http://veloxenergy.com/
and at http://factorreceivables.net/

Call Us Today at: 1-866-593-2195

 

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

 

 


 

Get CASH NOW for your outstanding receivables.

 

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