Can factoring grow your business? Yes. Since the recession of 2009, factoring has grown and become more flexible. Historically, factoring was for a large purchase, today it’s used for much more.

Can Factoring Grow Your Business?

Prior to the post recession credit crunch, factoring was common in industries that faced large one-time expenses such as the textile industry or phone book publishing. Think about the yellow pages back in the day. Businesses placed ads and were to be billed monthly after the phone books hit the street. But printing and distributing hundreds of thousands of phone books in even a middle market was an enormous one-time expense. Factoring those future payments to secure the printing costs was the very best solution.

Factoring Today

In addition to helping you get paid faster, factoring today provides services that allow you to spend more time running your business.

The biggest benefit is factoring differs from a traditional bank loans because there is no limit to the amount of funding that your company can receive. Simply put, as your receivables grow, the financing from factoring grows with them. This mean there is no hard borrowing limit as there is with a conventional bank loan.

Factoring is also an effective financial tool for newly formed companies that lack large reserve funds. Today, many companies stick with factoring well beyond their start-up days because it greatly accelerates their growth.

It’s common to find start-up companies that began factoring to acquire a couple thousand dollars just to get through next month that are now factoring millions of dollars. Even though they have the financial stability to secure a traditional bank loan, they prefer the flexibility and ever-expanding potential of factoring.

One Call Can Grow Your Business

Elan Capital, Inc can give your business access to all of these types of financing and more. With one phone call you can have dozens of lending sources competing for your loan. Once you have experienced the high level of customer service, competitive pricing and wide selection of financing options you will understand why many business owners view Elan Capital as their most important business asset.

Can factoring grow your business? Yes!

Toll Free: 888.615.1418