When your customers take 30, 60, 90 or more days to pay their invoices, it creates a cash-flow gap and unnecessary stress for your business. Slow-paying customers present challenges to businesses to meet costs such as payroll, daily operating expenses, equipment repairs and bills. A high Days Sales Outstanding (DSO) value can cause negative cash-flow and cripple a company.
TCI Business Capital provides a solution to slow-paying customers with accounts-receivable financing. Instead of wondering when you will get paid, we provide same-day cash for your invoices. This eliminates your cash-flow gap, giving you the working capital you need to meet payroll, purchase new equipment, get caught up on bills or invest in the growth and future of your company.
Although some companies try to bridge their cash-flow gap from slow-paying customers with a business loan or business line of credit, this only helps for a short period of time.
A business loan or business line of credit can take months to obtain. Even after you get approved, your limit easily gets met as you still struggle with slow-paying customers.
With accounts-receivable financing, or invoice factoring with TCI Business Capital, approvals are done in 15 minutes. Your business can grow as the amount of cash we advance you increases with growth. The main challenge of slow-paying customers is eliminated. TCI pays your invoices within 24 hours – lowering DSO and bridging the cash-flow gap.
Through our more than 20 years of financial experience, we’ve worked with a wide range of industries. All of these industries have common trends of slow-paying customers. These industries are on the frontlines of North America’s growth sectors and need the working capital to take advantage of the business opportunities.
The demand for broadband and wireless networks continues to grow and so does the demand for telecom and wireless companies who build, repair or maintain these infrastructures. With major telecom companies often taking more than 90 days to pay, it’s a challenge for telecom and wireless contractors to take on new work. Accounts-receivable factoring provides a solution to slow-paying customers by paying telecom and wireless companies same-day on their invoices.
Heavy construction work can change from day to day. Whether your heavy construction project is bridge construction or building a telecom network, slow-paying customers are a common issue that cause cash-flow stress. Thanks to finance solutions like accounts-receivable factoring, heavy construction companies have access to the capital they need to operate and grow.
Technology and digital continue to grow in every industry. Companies that provide technology services such as consulting, data management, software development and web design can be a part of the growth if they have a steady cash-flow to fund and grow their businesses. Technology companies of all kinds can eliminate their cash-flow gap from slow-paying customers by factoring with TCI Business Capital.
Companies that do utility and pipeline work need steady cash flow to pay their employees, bills and invest in growth opportunities. This can be a challenge when slow-paying customers take 30 to 90 days to pay their invoices. TCI Business Capital pays utility and pipeline companies on their invoices within 24 hours.
Trucking and freight companies need to pay their drivers weekly or biweekly, fuel up daily and repair or purchase trucks as needed. With slow-paying customers being a common industry trend, it makes it difficult to keep up with these business operating expenses. Trucking and freight factoring gives these companies the steady cash flow they need to maintain and grow.
The Renewable Energy industry continues to grow and thrive. As the demand for clean energy and green energy increases, business and work opportunities for contractors grows as well. Accounts-receivable financing is an excellent option for companies in need of immediate cash.
Winning a government contract can be a big success for any company. No matter what the job is, it requires employees, equipment and time to complete. If your company is waiting 30 to 90 days to get paid on the job, it can be hard to accept new contracts. Companies that choose to factor government invoices avoid the delayed payments and have the working capital to complete the job and accept even more contracts.
Staffing agencies pay their employees weekly or biweekly. This can be a challenge when most of their customers take 45 days or more to pay their invoices. By utilizing payroll funding and accounts-receivable factoring with TCI, staffing agencies can meet their existing business demands and take on new contracts as the cash-flow gap from slow-paying customers is eliminated.
Invoice factoring can benefit any industry that has slow-paying customers. Accounts-receivable factoring with TCI Business Capital provides same-day cash on invoices, giving companies in any industry the working capital they need to operate and invest in growth opportunities.
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