For the small business in the United States, making ends meet can be difficult, and business factoring companies are here to help, from general business factoring companies to trucking factoring companies and the like. After all, small businesses are hugely important to the country of the United States as well as the people living here. And with more than twenty five million small business scattered all throughout the county, small businesses even make up more than ninety five percent (ninety nine percent, to be more exact) of all businesses that can be found in the United States alone. The small business is important, but small businesses are often the first victims of rough economic periods. Small businesses can’t handle financial blows quite as well as big chain stores can, and this shows in the success rate of the typical small business.
Much of this lost money that can be so detrimental to the typical small business comes directly from a lack of paid invoices. And even if an invoice is paid, it is more likely than not to be paid late if paid at all. In fact, more than half of all invoices, right around sixty percent, to be more exact, are not paid on time. And while it’s better to pay an invoice late than not at all, this can really mess up the allocation of funds for any given small scale business – one that has five hundred employees or even less. A lack of invoice payments – or even late invoice payments – can seriously cause small businesses to struggle.
Many of these unpaid invoices are directly related to the transport and delivery of goods, a hugely common way to get things nowadays. Online shopping and ordering has become more popular than ever before, and there are now more than twelve million trucks and other vehicles dedicated to transportation that are currently in use here in the United States. Business factoring services and freight factoring companies are becoming more important primarily because of this, as it is all too easy for invoices to go unnoticed and unpaid as a result of directly being shipped your goods.
Fortunately, business factoring companies are here to help, and can provide invoice factoring services. Business factoring companies can in this way provide loans to small business owners who are missing invoices. While this is still a loan and loans should always be taken seriously, this type of loan is more easily paid back then most, as it can typically be paid back when the invoice itself is finally paid. So what’s the purpose of this type of loan as provided by business factoring companies? For one, going even a short period of time without the money that is owned to them can be hugely detrimental for any number of small businesses. This money that they are owed is often used to make important payments and to buy important things. Being without it could easily put a small business into a good deal of financial trouble, and can typically be avoided by taking out an invoice factoring loan through reliable and trustworthy business factoring companies.