Benefits of Invoice Factoring
With extra cash flow, your company can:
- Cover payroll and operating expenses
- Take advantage of supplier discounts
- Purchase additional inventory or equipment
- Pay taxes
- Increase sales and profits
- Offer credit terms to customers
Benefits GCBC clients enjoy at no additional cost are:
- Speeds up collections
- Replaces your credit department
- Assists your collection efforts
- Posts your collections
- Access to Daily Online Reporting
- Allows companies to achieve full growth potential from new profitable sales
- Provides cash availability to start-up companies with a limited operating history
- Generates immediate cash to help companies achieve increased profits
- Allows clients to take purchase discounts
- Can be a substitute for giving up equity or bringing in partners, losing ownership or control
- Client obtains full benefit of GCBC's credit department at no cost, hence decreasing bad debts and increasing profitability
- Allows companies with large concentrations to one customer to have credit availability
- Takes the worry out of financing and allows you to focus on your business
- There are no restrictive covenants on the balance sheet and income statement which would restrict the company from seeking new sales
- You pay for only those invoices that are factored with no minimum requirement