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Factoring Helps Add Key Employees

May 21, 2018

Businesses in all industries rely on well-trained, experienced workers to serve their customers. Hiring good people, or training someone who has potential takes time and money. Factoring helps add key employees by providing the cash flow to hire, train, and pay new staff.

How Can Factoring Help Add Key Employees?

Many B2B industries wait 30, 60, 90 days, or longer on customer payments. Not knowing when or if a payment is coming, makes it difficult for owners and managers to plan for the future, especially when it involves money.factoring helps add key employees

Invoice factoring eliminates the waiting for customer payments by providing immediate cash for invoices. Many service companies use factoring to speed up their cash flow and have money available to take on new projects, keep their equipment maintained, and add employees.

Case Study – How Factoring Helps Add Key Employees as Business Grows

Pecos Sand & Hauling is a frac sand hauling operation in the Permian Basin. The company was in the middle of a couple of jobs for its customers. One day, Chris the owner of Pecos Sand & Hauling was approached about a new opportunity, bigger than any the company had done before.

In order to take the opportunity, Chris needed to add both trucks and drivers to his company. Chris knew it was going to be a balancing act financially because of the inconsistent cash flow due to waiting for his customers to pay. He needed a source of consistent and reliable cash to meet his growing payroll and to cover the expenses of the additional equipment.

After searching online, Chris discovered invoice factoring with TCI Business Capital. He talked to us about his situation and learned how factoring would benefit his operation. Shortly after the end of the call, Chris received a quote for a factoring line that would meet his weekly cash needs and allow for future growth.

Once Chris started factoring his invoices, he had enough money in his bank account to meet his weekly payables schedule. As he added drivers, he had no issues covering payroll, and his payments for the additional trucks were always on time. With factoring, he no longer waited for customer payments, and Chris had a stronger company, both financially and operationally.

Factoring With TCI Business Capital

Since 1994, companies have chosen TCI Business Capital for their invoice factoring services. Our knowledge, experience, and customer service reputation have made us a leader in the factoring industry. To learn more about how factoring can improve cash flow, call TCI Business Capital at (800) 707-4845.

 
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