The market of landscaping comes in many forms from commercial and residential contractors, architects, grounds departments to educational institutions and suppliers. No matter what part of landscaping your business falls under there is always a need for managing your cash flow to grow. Have you been turned down for bank financing or have an inadequate bank line of credit? If so, invoice factoring may offer your business the assistance you have been seeking. In today’s instantaneous world, landscaping contractors now have access to working capital with quick turnaround. In some cases your business can immediately receive cash the day after the invoice is generated. In addition, factoring gives you a way to manage cash flow while eliminating the uncertainty of when invoices get paid. Whether you are a start-up company or a seasoned business, invoice factoring can help to guarantee your monthly accounts receivable.
In these uncertain economic times, many commercial businesses and residential property owners are stretching payments out longer and longer, oftentimes delaying payments owed for months. Because of this, many landscaping businesses need to quickly raise cash just to stay afloat. With predictable cash flow, landscaping businesses can reap the benefits of receiving their money as soon as the services or rendered goods are delivered. In addition, invoice factoring provides freedom from accounts receivable collections and allows the company to do what they do best… landscaping. Factoring companies specialize in the following:
• Often can fund your invoices the very next business day.
• Give your landscaping business steady and predictable cash flow.
• Give you access to working capital for your business.
• Can often work around IRS tax liens, personal credit issues or client concentration problems.
As a result of the above, landscape contractors now have a workable option when wanting to expand their company for future success. For example, commercial and residential landscaping businesses can be labor intensive which oftentimes require a need for large payrolls. As landscaping companies expand their business, so does the need for additional working capital to cover expenses such as payroll or light/heavy equipment purchases. By choosing a factoring company, landscaping businesses now have the opportunity to avoid asking for embarrassing deposits for job funding; fund all types of maintenance including government, municipal, commercial and residential landscaping jobs; pay cash for materials and supplies that are needed; and pay vendors on time improving credit standing. Now landscaping businesses can live with a sense of confidence knowing that they will have quick access to working capital.
It has been predicted that the landscape industry is expected to grow as much as 13% in the next five years. In order to manage this growth, factoring can provide these businesses an efficient way to manage their cash flow with predictable working capital. By offering immediate access to cash, invoice factoring companies provide landscaping businesses the ability to bring their ideas to life, expand their customer base, and grow their businesses into the future.