Houston Invoice Factoring companies like Catamount Funding offer services including transportation factoring, freight factoring, oilfield factoring and staffing factoring Catamount Funding, one of the premier Factoring companies in Houston TX, supports business
owners who find themselves in the position of having outstanding accounts receivables and limited available cash to continue day-to-day operations. Accounts receivables are invoices for which the services or products have been delivered on payment terms where the payment was not due at the time of service. When favorable payment terms such as these are offered, there is a lag between delivery and receiving the payment. This can be anywhere from a few weeks to several months. Cash flow during this time can be a challenge, particularly as the service or product delivery can result in an outlay of funds upfront. Factoring freight bills is a significant part of the operations at Catamount Funding, and is known by many names including freight factoring, transportation factoring, and trucking factoring. For a business that needs to keep a fleet of vehicles on the road to stay in business, there are always predictable costs like payroll, less predictable costs to forecast such as the cost of gas in the future, and then also unexpected costs which may be both urgent and unavoidable, such as repair costs following a break-down or an accident. Choosing all accounts receivables or a subset of unpaid invoices, the business can ‘factor’ those transactions with an invoice factoring company, in return for a fee, to receive cash quickly, normally within a couple of days. One of the other major benefits when factoring accounts receivables is that the management of the unpaid invoice shifts to the invoice factoring company, who then takes on the responsibility of making sure all the paperwork is in order, that all stakeholders understand the agreed terms and due dates, and they can also help facilitate the speediest payment methods. For clients who rely on check payments, switching to electronic payment methods speeds up the payment process and offers a clear audit trail of payment transactions. A representative for Catamount Funding explains further about potential financing sources that may be available to a company wondering if invoice factoring is a good fit for their needs: “Banks are necessary for a company’s deposit accounts but all companies may not qualify for bank loans. That is where Catamount Funding can help. We provide factoring services that provide immediate working capital to allow the company to grow, meet debt and other obligations in a timely manner, meet payroll demands, and allow you to take discounts and pay your suppliers promptly. We assist companies that may not qualify for bank credit for reasons such as start-up, credit issues, account receivable concentration, excessive leverage, or recent operating losses.”