Listen to host Vernon Foster interview Ian Varley on cash flow and small business financial health here:
How to Free Up Your Cashflow:
61% of small businesses struggle with cash flow. Increasing sales and increasing revenue does not equate to healthy cash flow. In fact, growing businesses are often strained financially due to the costs associated with business growth. With this in mind, it is important to free up your cash flow and ease the growth process. Invoice factoring has long been a solution to growing businesses struggling with improving cash flow.
Factoring is great for:
- janitorial companies
- staffing companies
What Is Factoring Like Now?
Factoring has deep historical roots, like Roman Empire roots. Yet in today’s increasingly digital age, factoring has kept up with streamlining the application process, 24/7 online account dashboards, and same-day funding. With the tools of technology marrying the experience of the Eagle team, we offer a ‘FinTech’ and ‘FinTouch’ approach. You have the digital fuel and the power of human monitoring to offer the best service to your business.
Switching to a Factoring Company
We work with the IRS to fund businesses with tax liens. We work with small businesses that have one or many MCA loans. In short, we work with small business owners at varying stages of financial contracts to provide the funding needed to grow. Business growth is an expensive process; we understand that. Our tailored solutions meet the needs of each unique business’ financing strategy.
What Is a Factoring Agreement?
- immediate cash for your open invoices
- no repayment
- no liability on your balance sheet
- advance rates averaging 85%
- fees between 1% and 5%