| > | | | | it through a factoring company. |
| Do you own a security guard company that does | | | | The premise behind factoring is very simple. Your |
| business with commercial companies or the | | | | invoices from good (but slow) paying customers |
| government? Tired of waiting up to 60 days to | | | | are an asset — a valuable one. The |
| get paid? Learn how to get paid in 2 days (or | | | | factoring company is willing to provide you with |
| less). In the past few years we’ve seen a | | | | financing using them as collateral. Factoring is easy |
| massive increase in the security industry. Airports | | | | to use and works as follows: |
| have beefed up their screening and security. Public | | | | 1. You do your work, as usual. You bill your |
| and private buildings have more guards. Even | | | | customer but then submit a copy of the invoice |
| business are ramping up their security procedures | | | | to the factoring company for financing |
| and hiring guards to keep premises and | | | | 2. The factoring company provides you an |
| employees safe. | | | | immediate advance on 90% of the invoice. You |
| In other words, it’s a great time to be the | | | | can use that money to meet payroll and pay |
| owner of a security guard agency. Provided, of | | | | expenses. |
| course, your company has the necessary | | | | 3. The factoring company waits to get paid by |
| financing resources to meet your payroll and | | | | your customer |
| business expenses. | | | | 4. Once they are paid, they rebate the remaining |
| But meeting payroll can be very tough. Especially | | | | 10%, less their fees |
| since commercial and government clients usually | | | | As you can see, factoring eliminates waiting for |
| pay their invoices in 30 to 60 days. How can you | | | | payment and gives you funds to run and grow |
| pay employees every week if your clients take | | | | your business. Factoring provides peace of mind, |
| that long to pay? The math just doesn’t | | | | enabling you to meet payroll easily. It also allows |
| work. | | | | you to take on new big clients with confidence, |
| The solution to the problem is to get financing. | | | | knowing that you’ll have the resources to |
| But I am not talking about getting a business loan. | | | | pay your employees. |
| Business loans are hard to get. There is a better | | | | If you own a security guard company or security |
| solution that is easy to qualify for and quick to | | | | agency, be sure to consider factoring as a tool to |
| set up. This financing tool is called invoice factoring | | | | grow your business. |
| and your bank does not offer it. Rather, you get | | | | |