Chris Stevens owner of Lubetech, Inc. turned to Gateway Commercial Finance after rapid growth and inconsistent cash flow nearly crippled his growing mobile fleet service business. "I remember always anxiously searching through the mail looking for checks from my customers. We've got an excellent customer base, but they always made us wait for payment. After I missed a large payroll, I decided that I needed to find a solution... and quickly.
The team at Gateway was incredible and worked diligently to get us the funds we needed. Gateway also took the time to help us improve our invoicing process, which has actually helped our customers pay quicker. Now I don't have to race the dog when the mailman shows up!"
The business world is based on relationships that occur at many different levels. For example, a strong relationship between an employer and its employees creates a productive working relationship that drives the company forward. The common element in all good business relationships is money and when the cash flow is deteriorated, then many of those critical relationships can break down.
Every company appreciates its customers and wants to do whatever is possible to improve the quality of the products and services being offered. But when the majority of a customer based decides to pay their bills late, then that slows down cash flow and that can put a strain on the relationship between the company and its customers.
A growing company owner dreams of taking on bigger customers and increasing revenue that exceeds the company's expectations. But, as the saying goes, be careful what you wish for because a growing company can experience the kinds of unexpected growing pains that could turn an upswing in business into the thing that puts the company out of business.
Invoice factoring is the way that a transportation company can love its customers and take on unexpected growth without the problems that come with slow cash flow. A growing transportation company can take its qualified invoices and turn them into the cash it needs to meet all of the growing requirements of an expanding customer base. With the cash flow problem rectified, the relationship between the company and its customers improves and the growth can continue.
Utilizing transportation company can also help to strengthen the other relationships that a growing company relies on. For example, a relationship with a transportation factoring company can insure that a growing organization always meets payroll and keeps its employees happy and productive. A strong cash flow thanks to invoice factoring will also enhance the relationship the company has with its vendors as the company can pay its bills on time.
Transportation factoring also allows a growing company to maximize its business relationships and get the most out of them. A growing company that can pay its bills on time can secure increases in its credit limits with its vendors and use those increased credit limits to take on even more clients. With the help of a transportation factoring company, a growing organization can maintain its good credit and look towards the future with confidence.
In a business world based on relationships, it is reassuring to know that customers who wait to pay their bills are not going to put your company out of business. When you have qualified invoices that you need to turn into cash to maintain your growth and sustain your important relationships, then look to an invoice factoring company to help develop the cash flow that will be vital to your growth. With invoice factoring, you can keep your employees happy while still taking on the kind of unexpected growth that will allow you to exceed corporate revenue goals and achieve significant success.