In the security guard business you are expected to have the best personnel, latest equipment, training, and techniques to satisfy your customers demands quickly. Oftentimes security companies are required to deploy large numbers of guards at short notice to complete or start a job. All of this requires capital as you will rarely be paid up front for your services. So where can you access working capital quickly? You can apply for a business loan and wait for the credit checks and approval process, or you can find a Security Factoring company, like Eagle Business Credit to help you with your accounts receivable.
Why You Need Factoring
Waiting to be paid for services rendered can hold you back from staffing up for your next job. Newer and smaller companies do not necessarily have access to a flexible line of credit, so Factoring might be the more attractive option for funding Security Guard companies. This is also true for more established firms that may have poor credit.
Factoring can get you the funds that your security guard business needs without adding more debt to your books. This process is relatively easy because once you sell your accounts receivable to us, you will be able to get the cash within 24 hours and let us worry about collecting on the invoices.
Benefits to Factoring
By choosing to factor your invoices you can have capital for obligations such as payroll and equipment costs without having to wait for your clients to pay you for your services. In many cases this means that you get the money for the job in less than a week instead of within a couple of months.
Security Factoring does not add to your debt burden and since it is not a loan it has nothing to do with your credit either. This money can be used to pay bills that are due and to expand your security business with new technology, as well as help you take on larger jobs. There are many different benefits to factoring your invoices and some of them can be unique to your situation.
When you are looking for a factoring company to help with your accounts receivable it is a good idea to find one that has experience with Security Factoring, like our representatives here at Eagle Business Credit. Contact us today to learn more about how we can help your security firm with Factoring!