Industries CFG Serves with Invoice Factoring Loans
Helping Your Small to Medium-Sized Business Grow
Request More Information
Customized Lending for the 21st Century
When your small to medium-sized business needs cash, you need it fast. The Commercial Finance Group offers factoring loans and asset based loans to help you meet your working capital needs immediately. We help many industries with cash flow, from manufacturing and staffing to professional firms and transportation. For over 40 years, we’ve been providing customized lending solutions to help your business survive and thrive. Contact us today to get started!
INDUSTRIES THAT FACTORING LOANS BENEFIT
What Kind of Industries Can Use CFG?
Small to medium-sized businesses are fraught with unknowns. From not knowing when the next customer will walk in the door or when the next order will be received for merchandise, uncertainty is part of the game in the beginning of a small business’ life until the company is well established.
This is where invoice factoring can help your business stay ahead of the game of dice. Invoice factoring is when a business sells their accounts receivable for cash in as little as 24 hours rather than waiting the typical 30 to 90 days for payment from the customer. This working capital that can be received immediately brings a level of certainty to a business that allows it to do things it otherwise wouldn’t be able to do, such as hire new employees or expand a new product line — to take advantage of supplier discounts in an effort to fuel more growth.
The Commercial Finance Group offers the best factoring loans and asset based loans for many small to medium-sized businesses in many industries. We’ve been helping small businesses and start ups grow by improving their cash flow for over 40 years. We offer individualized solutions to your working capital needs. Below, we’ll examine some of the industries that we help with our customized lending solutions. Contact us today to learn more!
INDUSTRIES THAT USE FACTORING LOANS
Manufacturing
Any business that makes goods understands the struggle it can be when you have to wait on payment for your goods. While you are waiting on payment, you still need cash to purchase the raw materials you need to make the goods you sell. Often, these raw materials are purchased in large quantities, requiring cash upfront. Furthermore, depending on the intricacy of your product, you often need a large staff to make your product, requiring further cash. In a world full of uncertainties, one break down of a critical machine can push you back days, delaying orders already in place.
However, if your company takes advantage of customized lending through the Commercial Financial Group’s invoice factoring, you’ll have access to the cash you need to manage the uncertainties that business throws at you.
Staffing
Staffing agencies can be the savior of so many other companies who need top-notch, vetted employees in a pinch. However, because of the large amount of employees, payroll can be the most challenging expense, especially if the business is growing. Staffing agencies bill for their services typically weekly. However, their customers usually pay in 30, sometimes 60 days, which requires the staffing company to carry as many as eight payroll periods. This can be daunting for any business to manage if not adequately capitalized to manage such. This is where factoring can aid in that cash conversion cycle.
Factoring loans from the Commercial Finance Group can help staffing agencies meet the demands of their payroll, while still providing their clients with much-needed help to continue to offer their goods and services. And so the world goes round.
Wholesale and Distribution
Cash makes the world go around, indeed. Wholesale and distribution companies fail because of the lack of cash to pay their bills, pay their employees, invest in goods that are waiting to be sold, and due to high overhead fees, especially if they have a warehouse (or several). The key with wholesale and distribution is to take advantage of market conditions, which means to buy low and sell high. The problem with this is at these times, the economy might not be ripe, and your company may be struggling.
It’s imperative as a small to medium-sized business to have access to the working capital you need to not only stay afloat, but also to expand when other businesses are contracting. Factoring loans by the Commercial Finance Group can do just that. We can be your bridge to bankability. Contact us today!
Professional Firms
Clients of consultants, architects, engineering and surveying firms, accounting, and a whole host of other professions are used to terms of up to 90 days. While this is great for those who utilize these services, it can be rough for these firms to survive when they have bills and staff to pay, as well as office expenses.
Access to working capital is the key to helping small to medium-sized businesses and startups not become a statistic of failure. The mission of the Commercial Finance Group is to provide the working capital professional firms need through factoring their invoices. Contact us to learn more!
Transportation
Freight factoring is very common in the transportation industry, which has high upfront costs, such as fuel, supplies, and transportation-related trucking and shipping costs. Factoring your invoices gives you the working capital you need while you await payment from your clients. Such costs as payroll, buying supplies, and investing in more goods and materials can be significant in the freighting world. However, by partnering with the Commercial Financial Group, many freight companies can now manage their cash flow to survive, thrive, and expand their business on the road to bankability.
Healthcare
Medical factoring, or factoring healthcare receivables has become one of the best ways to hire new staff, open new locations, or invest in new medical equipment. This is because the healthcare industry where third-party insurance is billed is renown for having late payments. Insurance companies can take a long time to pay, especially if they claim a medical bill was coded incorrectly, or some other submission error is delaying payment.
By investing in healthcare factoring for your medical practice with a customized lending solution by the Commercial Finance Group, many medical businesses will have access to the working capital they need to pay staff, pay bills, keep their business going, and even expand. In fact, for many smaller private practices, factoring loans are the only way they do survive.
HOW THE COMMERCIAL FINANCE GROUP CAN HELP
The Commercial Finance Group is a factoring company that helps small businesses with cash flow needs. Our customized lending approach enables our customers to continue operating at full capacity and to continue to expand and produce more goods that consumers desire. Through factoring or asset based loans, you will be able to meet payroll, manage expenses, and do more than just survive — you will thrive.
