Invoice Factoring Group Re-Launches Security Agency Factoring
(For immediate release) Miami, Florida – Security agency owners can now benefit from Invoice Factoring Group'’s security agency factoring program. The program was created to help security agencies, guard staffing agencies and detective agencies manage their payroll expenses.
The demand for security services has increased dramatically in the last few years. Private security guards are now patrolling airports, public buildings and government installations helping keep them safe. This demand has also strained the financial resources of temporary security staffing agencies. The challenge is a simple one. Clients, such as airports, pay their invoices in 30 to 60 days. But, employees need to be paid weekly or bimonthly. Unless the agency has significant capital resources, they will run into problems.
“Factoring can eliminate the payment wait and provide security agencies with immediate funds,” said Marco Terry, president of Invoice Factoring Group. “This enables them to meet payroll and pursue more opportunities.” He added.
Invoice factoring provides financial stability to security agencies by accelerating slow payments. It works as follows:
- The security agency delivers services and invoices for them
- The factoring company advances funds against the invoice
- Once the client pays the invoice, the transaction is settled
Factoring is different than most traditional business financing programs, such as business loans or lines of credit. You can get a receivables factoring line in as little as 5 business days, and as opposed to a business loan, receivable factoring is easy to qualify for. The most important requirement is that you do business with strong credit worthy clients. If you meet this criteria and your business is free of legal or tax problems then there you should be able to benefit from accounts receivable factoring.