- Accounting and Payroll Service
- Best Metrics for Key Performance Indicators
- Best Practices for Invoice Factoring
- Cash Flow
- Extending Credit to Customers
- How to Identify a Business Partner
- Increase Cash Flow
- Money Saving Tips
- Purchase Order Financing
- Setting Priorities
- Small Business Decision-Making
- Small Business Lending
- Small Business Management
- Tech Tools for Small Business
- The Need for Optimism
Extending Credit to Customers
Many firms face challenges when planning for growth. Researching finance opportunities that leverage invoicing and credit can help provide higher return on investment and free up valuable time. At some point, nearly every business finds themselves in a position with limited funds on hand. This situation can be difficult when facing unanticipated expenses and liabilities. Ensuring access to capital now, and putting better practices and processes in place, can mean success today and improved financial stability long term. At Plus Funding Group, our goal is to guide business owners towards success through invoice factoring and other methods to leverage revenue.
Extending credit through invoices is common, but may not be practical for every business. To decide if extending credit is right for your business, you must weigh the associated rewards and risks.
- The option of credit enables customers to focus less on prices, enhances customer relations, and has the potential to generate more sales.
- Extending credit costs money.
- Selling on credit means the payment is not in hand and will need to temporarily recoup the cost from other areas of your operating capital.
- If customers don’t pay, you could be in for a long settlement process.
- Extending credit could be the factor that keeps your business afloat if it makes it easier for your customers to buy from you. Nevertheless, if it isn’t necessary it may not be worth the extra time and paperwork.
At Plus Funding Group, we understand the risks associated with extending credit to new customers. Our team is well versed in performing the due diligence to determine credit worthiness that can eliminate credit write offs and slow payment before it happens. Partnering with us gives you access to the tools and background data you need to make intelligent business decisions and carefully assess risk.
The Plus Funding Group offers quick, efficient, and professional services. Learn how our services can enhance your bottom line today.