In more difficult economic times, your predicted cash flow situation may not materialize. Sometimes, Midwest businesses get better than expected news, such as when, in April 2009, Midwest business activity contracted at a much less severe rate than anticipated, thanks to a jump in new orders.
Other times, the news isn’t as good as expected, such as when, in May 2009, Midwest business activity shrank more than expected , due to fallout from automobile industry troubles.
The only thing that’s for certain is this: you need to consider the ups and downs of the economy as you project your cash flow. To boost your cash flow management, consider invoice factoring as your business funding solution.
When you choose invoice factoring as your business funding solution, you can be prepared for cash flow ups and downs – and you take on no new debt.
With invoice factoring, you are receiving cash based on your outstanding receivables, not borrowing money that you will need to pay back to a financial institution. Plus, with receivables factoring, you decide how to spend the money.
You can use the funds to:
- Meet payroll, payroll taxes and other expenses, without worry
- Increase the number of products or services that you offer to your customers
- Grow your business by serving new industries or expanding your geographical reach
For more information about how to make receivables factoring your business funding solution, call MP Star Financial at 800-833-3765, #150, today.
Or if you’re ready to apply for your cash flow management solution, apply online now.