Over the years Factors Western has helped numerous companies with their cash flow and financing. We pride ourselves in going outside the box to find solutions where other companies may not.
Below are a few typical situations that arise where Factors Western can provide solutions:
Situation One
John works in the Oil and Gas Industry. He has a small fleet of Water Trucks and has a couple contracts with two of the large Oil and Gas Companies. John has an opportunity to take on a new good sized contract. He knows that the payment terms are anywhere from 30 to 90 days, so typically he would have to turn the opportunity down. Why? Because he knows that he wouldn’t have enough cash flow to operate once he completed the work and still had to wait 30 to 90 days for payment. However recently he had learned about the services of Factors Western. Within a couple of days, John had signed up with Factors Western, and they had provided him with a free credit check on the new company. John was able to accept the contract knowing that Factors Western would be able to advance to him a large portion of his invoices, at the time of invoicing instead of him waiting up to 90 days to get paid. This allowed him to pay his employees and suppliers and increase his business. He also could now control his cash flow, and was not waiting for cheques to arrive in the mail.
Situation Two
Peter had recently started a landscaping company. Eager to grow his business, he took on several new jobs for some of the local business buildings in his area. He hired extra staff and purchased some extra equipment to complete all these new jobs. However he soon learned that the companies he was doing the work for would not pay him for 30 to 60 days after he invoiced them. He was a week away from needing funds for his next payroll, and was not sure when the cheques would arrive in the mail. Peter was in a cash flow crunch from all the growth his business was experiencing. His friend had heard about Factors Western and told Peter to give them a call. Factors Western was able to quickly set up Peter’s company and advance on his invoices within a couple days, which allowed Peter to meet his payroll and continue to grow. Once Peter was set up he no longer needed to worry about if a cheque would arrive in time, he knew he would be able to meet his cash flow requirements. He soon was able to take on more business without fear of not having the available funds to do so.
