Archive of August, 2015

August 26, 2015
I didn’t get into business to chase money, but for awhile it seemed as if that was all I was doing – calling and emailing customers to check on the status of payments. I stalked the mail carrier every day, watching for the truck and racing to the mailbox only to find a whole lot of empty.    Don’t get me wrong. Business was good – I was making more than I ever had working for somebody else. And my customers always paid – eventually. But I had one customer stretch me out over three months to the tune of $21,

I didn’t get into business to chase money, but for awhile it seemed as if that was all I was doing – calling and emailing customers to check on the status of payments. I stalked the mail carrier every day, watching for the truck and racing to the mailbox only to find a whole lot of empty.

Don’t get me wrong. Business was good – I was making more than I ever had working for somebody else. And my customers always paid – eventually. But I had one customer stretch me out over three months to the tune of $21,000 - and my landlord, and more importantly my employees, didn’t want to hear about my money troubles. I can’t tell you the sleep I lost worrying about how I was going to make payroll.

That was before a trucker friend of mine told me a business secret that changed my life: invoice factoring.

It sounded too good to be true – instead of me sending new invoices to my customers, I could send them to TBS Capital Funding instead. In turn, TBS gives me cash immediately, for less than what my merchant card services provider was charging me for credit card processing. TBS waits to be paid so I don’t have to.

I tried it and it worked like a charm. The money was deposited directly into my bank account, and I no longer had to worry about how I was going to pay my bills. In essence, my customers were now paying my payroll.

Although I’d never heard of factoring, large manufacturers have been doing it for years. Truckers have also found it to be a great way to gain fast access to the cash they need to keep their rigs on the road.

These days I sleep easier, knowing I’ve got my payroll covered. I’m grateful to my friend for cluing me in to TBS Captial Funding.

Sound familar? Learn more about your options today.

-Brad Kuhn Small Business Owner

Looking for ways to get customers to pay faster?  You may have heard the expression “2/10, Net 30.” That’s biz-speak for: “Hey, if you’ll pay me in 10 days I’ll knock off two percent – or pay me the full amount in 30 days.”  A lot of big companies offer these kinds of early payment discounts. Studies show, however, that only a fraction of offered discounts are taken. Turns out even big companies like to hang on to their cash as long as possible.  At TBS Capital Funding we’ll take those terms. We’ll pay cash
August 21, 2015

Looking for ways to get customers to pay faster?

You may have heard the expression “2/10, Net 30.” That’s biz-speak for: “Hey, if you’ll pay me in 10 days I’ll knock off two percent – or pay me the full amount in 30 days.”

A lot of big companies offer these kinds of early payment discounts. Studies show, however, that only a fraction of offered discounts are taken. Turns out even big companies like to hang on to their cash as long as possible....

Is your cash flow lumpy? That sounds like a personal question, but you know what I mean. Customers like to keep their own cash flow in the black and so you wait 30, 60 or even 90 days for them to pay their bills.       Money in the mail doesn’t pay your rent. Late fees can add up quickly. Your critical suppliers want to get paid.   And even if you have the option to carry a credit card balance, not being able to pay that down can feel like a slow death. So you juggle an already busy schedule to call, email,
August 18, 2015

Is your cash flow lumpy? That sounds like a personal question, but you know what we mean. Customers like to keep their own cash flow in the black and so you wait 30, 60 or even 90 days for them to pay their bills.   

 

So you’ve started your own company. Congratulations! Here’s a little advice I wish I’d been given when I was starting out:    1. Cash is King. It doesn’t matter how many customers you have, if they don’t pay you in a timely manner, you may not be able to pay your bills. According to the Small Business Administration, half of all start-ups fail within their first five years, primarily because they run out of cash.    2. Income is lumpy, expenses are not. Rent, payroll, taxes, utilities, loan payments and cre
August 15, 2015

So you’ve started your own company. Congratulations! Here’s a little advice if you are starting out:

1. Cash is King. It doesn’t matter how many customers you have, if they don’t pay you in a timely manner, you may not be able to pay your bills. According to the Small Business Administration, half of all start-ups fail within their first five years, primarily because they run out of cash.

 

When I got turned down for a business loan, I’ll admit I was a little hot under the collar. I may have said some things I didn’t mean, and meant a few I didn’t say. One thing I meant, and was about to do, was transfer all my deposits to another bank.  It’s pretty much the same all over these days when it comes to loans. Banks are limited in what they can and can’t do. But my banker went above and beyond to show me that she valued me as a customer. And her customer service saved the relationship.  So what wa
August 11, 2015

When I got turned down for a business loan, I’ll admit I was a little hot under the collar. I may have said some things I didn’t mean, and meant a few I didn’t say. One thing I meant, and was about to do, was transfer all my deposits to another bank.

It’s pretty much the same all over these days when it comes to loans. Banks are limited in what they can and can’t do. But my banker went above and beyond to show me that she valued me as a...

You’ve done the work. Why wait to get paid, when there are people out there willing to give you cash today for your customers’ promises to pay in 30, 60 or even 90 days.  Selling invoices for cash, how cool is that? Pretty darn . . .  Here’s the deal. TBS Capital Funding buys your customer invoices at a discount, giving you cash in exchange. They take the risk. You take their money to the bank – debt free – regardless of your credit history. It’s called non-recourse factoring, and it’s a pretty sweet deal.
August 09, 2015

You’ve done the work. Why wait to get paid, when there are people out there willing to give you cash today for your customers’ promises to pay in 30, 60 or even 90 days.

Selling invoices for cash, how cool is that? Pretty darn . . .

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