Benefits of Factoring

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Benefits of Factoring

With extra cash flow, your company can:

  • Cover payroll and operating expenses
  • Take advantage of supplier discounts
  • Purchase additional inventory or equipment
  • Pay taxes
  • Increase sales and profits
  • Offer credit terms to customers

Benefits GCBC clients enjoy at no additional cost are:

  • Speeds up collections
  • Replaces your credit department
  • Assists your collection efforts
  • Posts your collections
  • Access to Daily Online Reporting
  • Allows companies to achieve full growth potential from new profitable sales
  • Provides cash availability to start-up companies with a limited operating history
  • Generates immediate cash to help companies achieve increased profits
  • Allows clients to take purchase discounts
  • Can be a substitute for giving up equity or bringing in partners, losing ownership or control
  • Client obtains full benefit of GCBC's credit department at no cost, hence decreasing bad debts and increasing profitability
  • Allows companies with large concentrations to one customer to have credit availability
  • Takes the worry out of financing and allows you to focus on your business
  • There are no restrictive covenants on the balance sheet and income statement which would restrict the company from seeking new sales
  • You pay for only those invoices that are factored with no minimum requirement
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