Why Payroll Financing Solutions is a Better Choice than Advance Payroll Funding
There are lots of things you can get in advance, such as advance warning of an impending storm or advance tickets to see a performance by your favorite musical act. You may have even heard of the company called Advance Payroll Funding, Ltd, but you should be aware that, for payroll issues, they are not the only game in town.
Many companies offer payroll assistance and payroll funding to small business owners, who usually have a lot on their plates and appreciate the help. However, it is important to understand the pros and cons of each type of company and why Financing Solutions (www.fundmypayroll.com) could be a more favorable choice for your business than Advance Payroll Funding.
What are the Disadvantages of Advance Payroll Funding?
When your business is in financial hot water and you are in danger of missing payroll, you might begin to panic and call the first company you can find. Nevertheless, it is during times like this when it is easy to make mistakes in judgment and choices that could end up costing you more money in the long run.
Many traditional factoring companies, like Advance Payroll Funding, can get you short term business funding quicker than a bank and without having to provide tons of collateral. Even so, it might still be several weeks before you see any money.
In addition, their policies often require that you factor all of your account receivables, not just some. Also, they will typically insist that your creditors make checks payable to the factoring company, instead of to you, meaning that everyone will know you are using a factor. This is the equivalent of a flashing neon sign saying that your business could be in trouble, and making it almost certain that companies will not want to work with you in the future.
How is Payroll Financing Solutions Better for Your Small Business?
A cash advance company, like Financing Solutions, works differently. For starters, you get to choose the number of account receivables you want, whether it’s just one or all of them. Payments from your creditors will still come to you, so no one will notice any changes.
Best of all, with Financing Solutions, you can get the fast business funding you need in as little as 48 hours, without a long term commitment. You can repay the funds in a few weeks or months, when your cash flow is stronger.
How Business Cash Advances Can Help Your Business
As a small business owner, you know that just about everything is done in advance. You purchase supplies in advance of actual orders and ship your product in advance of payment. Now, with business cash advances, you can also handle many more issues ahead of time.
With a business cash advance, you can build a working capital fund. This way, you always have extra cash on hand and don’t have to worry about unexpected expenses that could prevent you from making payroll or paying business taxes. Also, you will be more prepared to take advantage of profitable business opportunities that come your way.
Where you go for quick business financing is as crucial as how much money you get. A business cash advance from Financing Solutions will give you better terms than one from Advance Payroll Funding.