Top industries where factoring makes a difference

Factoring is a financial service that more and more entrepreneurs use because financing is fast and doesn't involve collateral or red tape. Although any business that needs support can turn to Instant Factoring, there are certain industries where factoring has been a lifeline in tough times and a trusted partner on the road to growth.

1. The transport industry. Carriers always need cash to keep their business afloat. In this industry, payment terms can stretch to 120 days, and transport company owners have had to find a fast solution to stay afloat through an extremely challenging period.

The solution transport companies found:

• They created an account on instantfactoring.com
• They uploaded the invoice to their account
• The invoice was reviewed, and they received an answer within 2 hours
• In no more than 1 day, Instant Factoring transferred the money to their account

What did they do with the money?

• They paid their suppliers
• They paid the drivers' salaries
• They made their lease payments on time
• They bought new equipment and grew their business

Construction company owners created an account on Instant Factoring, financed invoices that were still within term, and managed to:

• Take on new orders
• Cover the cost of the materials they needed
• Pay their employees' salaries

Manufacturing, retail, and distribution. In these industries, the biggest challenge is the gap between payments that must be made to suppliers and collecting invoices from customers.

Just like in transport and construction, business owners in manufacturing, retail, and distribution decided to try factoring because it's fast, doesn't require collateral, and doesn't involve red tape. In other words, it's a simple way to get cash when you need it most.

With the money transferred by Instant Factoring, companies in manufacturing, retail, and distribution were able to:

• Support longer payment terms
• Bridge the gap between paying suppliers and collecting from customers
• Buy raw materials and sign contracts for new orders
• Pay their employees' salaries
• Cover routine expenses
• Attract new customers

Factoring is a solution many entrepreneurs discovered when they felt they were running out of options in the toughest times. If you want to try it too, it's simple: contact us. You'll be surprised by how quickly we respond.