Houston Invoice Factoring companies like Catamount Funding offer services including transportation factoring, freight factoring, oilfield factoring and staffing factoring Factoring freight bills is a major part of the day-to-day business at Catamount Funding, one of the premier Factoring companies in Houston TX. Their services include invoice factoring services like Houston staffing factoring and factoring for oilfield contractors, in addition to transportation factoring, purchase order financing, and all aspects of accounts receivable management for clients across a wide range of business sectors and geographical locations. Across a multitude of diverse transaction types, it is common to deliver a product or service and then send an invoice for the funds to be settled by a date in the future. This could be anywhere from a few days to up to three months in the future. While these ‘accounts receivables’ are maturing and approaching their due date, they must be managed, possibly with follow-up calls, and must be tracked so that the business balance sheet is kept up to date. Although the money is expected in the short-term, a lack of cash available immediately could present challenges in circumstances where there are unexpected costs incurred and where payment is expected at the time of purchase or the date of service. Invoice factoring is a way to leverage the unpaid invoices, or a subset of them, in return for a fee, to ‘factor’ the invoice with a factoring company and receive cash quickly, usually within days. An added benefit of invoice factoring with a company like Catamount Funding is that the management of the outstanding invoice transfers to the professional team at Catamount, meaning that in addition to receiving money to support cash flow needs, the requirement to follow up and track the outstanding payment is lifted. There are several reasons a business may want to continue offering terms where a sale is made with favorable credit terms, like retaining an important client where payment terms have not changed since the start of the business relationship or using this payment method as a way to differentiate the business from competitors who do not offer that flexibility in payment terms. Lending is based on the credibility of the client base of the business applying for invoice factoring services, which means it can be a good fit for start-up companies that have not had time to build a good credit score. A representative from Catamount Funding spoke about the need to act when faced with business-related financial challenges, rather than procrastinate: “When events in your business life command attention, as a business owner, the last thing that should happen is ignoring the issues and putting off making a game plan. When it comes to cash flow and financing needs, it is imperative to plan sooner rather than later. I can cite too many examples of terrible things that happen when a business owner puts off factoring the company’s accounts receivables…. Many times these delays promote delinquency with payroll tax payments, negative vendor relations, customer complaints on quality and timeliness of service, and cash flow shortages for payroll…to name a few.”
Catamount Funding offers Houston Freight Factoring, Financing freight bills
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