So, you decided to factor your invoices. You’ve discovered that factoring your invoices allows you to get funds immediately without the worry of acquiring debt. You’ve applied for accounts receivable factoring through a factoring company and you’ve been approved. Now that the hard part is over, what’s next? Many businesses aren’t sure what the next steps to take after being approved for invoice factoring and receiving cash. There are some smart ways to use the funds as a means to your cash flow problems and essential needs. 5 Steps to Take After Being Approved for Invoice Factoring 1. Assess the Needs of the Business It is important to assess what your company needs over what you want. The difference between wants and needs is … [Read more...]