You may be wondering what invoice factoring is, how long it has been used and how it can help you grow your janitorial business.
Here’s some information about the history of receivables factoring, which is a time tested method of business funding.
Here are examples of famous people who have used receivables factoring:
- King Hammurabi, who was probably the earliest factor (factoring lender)
- Christopher Columbus, who used a form of factoring to buy his now-famous ships: the Pinta, the Nina and the Santa Maria
- The Medici family, who used factoring to finance art and culture after the Middle Ages ended
Next, here’s information about how accounts receivable factoring works.
With invoice factoring as your form of business funding, you can receive cash – fast – by receiving funds based upon the amount of your outstanding receivables. With factoring, you boost cash flow management, but take on no new debt.
Here’s more in depth information about factoring business funding.
Now, the most important question of all: how can receivables factoring help me grow my janitorial business?
With accounts receivable factoring, you can:
- Meet expenses, including payroll and payroll taxes
- Offer better payment terms to attract new clients and take advantage of better payment terms yourself
- Expand your janitorial business, either geographically or by adding new services, or any other way that you decide
So, apply for invoice factoring business funding today from MP Star Financial to boost your cash flow management and grow your business.
Here’s a bonus: when you choose to factor with MP Star Financial, you pay no hidden fees.
Send MP Star a current contract or proposal from another receivables factoring company and we’ll point out hidden fees. If we can’t save your janitorial business money, then we will pay you $250 in cold hard cash.
That’s how confident we are that we can provide you with the best cash flow management solution.
Apply for your accounts receivable factoring online today or call us at 1-800-833-3765, x. 150.
