Financing Your Security Guard Company

Financing Your Security Guard Company
In other words, it’s a​ great time to​ be the owner of​ a​ security guard agency .​
Provided, of​ course, your company has the necessary financing resources to​ meet your payroll and business expenses.
But meeting payroll can be very tough .​
Especially since commercial and government clients usually pay their invoices in​ 30 to​ 60 days .​
How can you pay employees every week if​ your clients take that long to​ pay? The math just doesn’t work .​
The solution to​ the problem is​ to​ get financing .​
But I​ am not talking about getting a​ business loan .​
Business loans are hard to​ get .​
There is​ a​ better solution that is​ easy to​ qualify for and quick to​ set up .​
This financing tool is​ called invoice factoring and your bank does not offer it .​
Rather, you get it​ through a​ factoring company.
The premise behind factoring is​ very simple .​
Your invoices from good (but slow) paying customers are an​ asset – a​ valuable one .​
The factoring company is​ willing to​ provide you with financing using them as​ collateral .​
Factoring is​ easy to​ use and works as​ follows:
1 .​
You do your work, as​ usual .​
You bill your customer but then submit a​ copy of​ the invoice to​ the factoring company for financing
2 .​
The factoring company provides you an​ immediate advance on 90% of​ the invoice .​
You can use that money to​ meet payroll and pay expenses
3 .​
The factoring company waits to​ get paid by your customer
4 .​
Once they are paid, they rebate the remaining 10%, less their fees
As you can see, factoring eliminates waiting for payment and gives you funds to​ run and grow your business .​
Factoring provides peace of​ mind, enabling you to​ meet payroll easily .​
It also allows you to​ take on new big clients with confidence, knowing that you’ll have the resources to​ pay your employees.
If you own a​ security guard company or​ security agency, be sure to​ consider factoring as​ a​ tool to​ grow your business.

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