California Factoring
Stale Cash Flow...
Keith Chapman owns one of Los Angeles’ largest and most successful commercial bakeries. After a series of unfortunate events, the relationship with their existing factor deteriorated. “We have more than 300 customers that we deliver to every week and generate almost 2,500 invoices each month. It’s a lot of work for anyone, and when we lost a key employee and our accounting software failed, things turned from bad to worse. Our existing funder did what they could to support us, but it was simply too much work and strained our relationship. After nearly four years, they asked us to find a new funder.”
The bakery had significant challenges with the make-up of their account. The large number of customers and relatively small dollar value of invoices would be a challenge for even the largest factors. We felt the largest hurdle lay with the delinquent receivables and focused a significant amount of resources on identifying and collecting the past due balances. Within 90 days, we made a tremendous difference with the outstanding receivables and the client’s cash flow. “We’re back to doing what we do best, baking some of the finest breads and pastries in Los Angeles. We leave the tough stuff to Gateway(**).”
...New Recipe for Success
California Companies: You Need A Factoring Service That Grows With Your Business
When doing business with a commercial finance company, you can discover the company’s limitations after a while. For example, some California factoring companies can handle large transactions regularly. Still, they cannot take many small transactions that add up to a significant revenue daily.
The critical thing to remember is that the worst time to discover the limitations of your California factoring company is when you need their support the most. We are constantly monitoring our business with our customers, and we work hard to update our commercial factoring arrangements to benefit us and our clients. That is how we can help out clients that generate a great deal of revenue through a significant number of invoices.
Our Commercial Factoring Services Meet Your Needs (*)
What do you do if you are already using a commercial factoring company to help you maintain cash flow and that company can no longer keep up with the workload? Companies like this commercial bakery require constant cash flow to meet customer needs. Many of these companies also have a lot of clients that generate smaller invoices. As the business grows, so do the cash flow problems.
Our Seamless System Helps Us Keep Pace
When we set up an account with a new client, we will create an interface that the client can use to manage invoices quickly and efficiently. Your accounting staff will have constant access to a system that allows them to input invoices and wait for us to put cash in your account a few hours later. It is a system we have spent years developing, and it has helped make us one of the country’s most efficient commercial factoring companies.
We Can Keep Pace With Your Business
You don’t want to discover that your factoring company cannot keep pace with your needs when your company starts to see a rise in invoiced sales.
When you opt for commercial factoring services, experts thoroughly analyze your business, crafting a system capable of handling both the dollar volume and invoice quantity associated with your operations.
A company of our caliber doesn’t attain its status as a premier financial partner for small businesses nationwide by failing to anticipate future needs. We offer the necessary programs to enhance your cash flow and sustain the growth of your business by continually generating sales.
(*) Since new regulation has been approved, California businesses are referred to a reliable partner authorized to provide factoring services in this state
(**) referred to a partner who is authorized to provide services in that state