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Factoring Invoices And Your Company Image… What Does Your Customer Think?

Factoring Invoices And Your Company Image… What Does Your Customer Think? .

PMF Bancorp has discovered over the many years that we have been in business that almost every single first-time client asks this question. Since we are a family-run business, we understand this worry and why it is such a common concern of most new clients. In today’s economy, however,
such a worry is really not an issue to be concerned with. Rather than Accounts Receivables Financing being a black mark on your company, it reveals intelligence and flexibility in a challenging economic climate. Isn’t it normal for a smart business to have multiple lines of credit?
Factoring is little more than a line of credit that utilizes the accounts receivable of your business as collateral. It provides funds quicker and without as many hoops to jump through as when compared to traditional bank loans. In fact, having a factoring credit line in place can help you to place your business on a much stronger footing than your competitors. Unlike your competitors, you will have the advantage of being able to positively manage your cash flow and avoid cash crunches when unexpected circumstances arise. In addition, the financial experts at PMF Bancorp help you to take your financial planning capabilities to the next level of excellence.
What is intriguing is that you might be surprised to find out from many of your large customers and vendors are already familiar with accounts receivables financing because they use it themselves. Many large public and private companies use factoring to increase their liquidity and cash flow. Smart controllers implement factoring in many cases as a growth strategy when their sales are increasing to rapidly for a traditional bank to handle the accounts receivable financing needs.
A lot of our business comes from past clients recommending us to either their vendors or their customers. Successful word-of-mouth and positive outcomes are essential for any business to continue to grow and stay successful. Still, PMF Bancorp understands the initial concern, and we believe this worry can be effectively addressed.

If you are wondering what do you tell your customers, tell them that due to growth and to keep up with your cash flow needs, you have decided to factor your invoices. You can always provide a positive spin on the decision to employ accounts receivables financing. You can explain that factoring is a constructive step for your business and will allow you to continue providing your customers with the great service they have come to expect. And your customers will continue to have the same level of contact with you that they have always had in the past.
After all, it is not your business model or customer service that is being financed, but simply your accounts receivables. In fact, factoring with PMF Bancorp can also prove to be a benefit to your customers because it allows them the luxury of paying on terms if needed. You are not a financial institution with a successful history of lending and financing – we are and this is a big plus. If you let go of old negative conceptions that are based in fear and fantasy, you can allow PMF Bancorp to help take your business to the next level of productivity and profitability. Let us worry about when your customers are going to pay your invoices as you focus on the actual business of growing your business.

If you simply communicate proactively with your customers, it will go a long way in making the decision to factor your accounts receivable a smooth and clean. As a full-service institution, PMF Bancorp will be by your side to help you with the initial transition. Our goal is to make factoring work positively for your company.



 
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