It's frustrating when your business experiences cash flow fluctuations due to payment gaps in the accounts receivables. What that means is, you won't have enough cash to keep your business moving as fast as you would want to. Fortunately, you can take advantage of invoice factoring to get your business back on track. Factoring gives you a cash advance of up to 90% of your original invoice. If your business is in the following industries, then you can benefit from invoice factoring.

Oil and gas Invoice Factoring

Whether you are in a small or medium-sized oilfield business, you can still use factoring to secure financing. Oilfield service factoring ensures you are paid right away. You can extend your credit terms to attract new customers. Here are some benefits of factoring for the oil and gas industry.

• Fast financing: The approval for factoring takes 3 to 5 business days. Factoring companies transform your accounts into cash instantly.

• No maximum financing amount: As long as you have outstanding invoices, you'll get the cash you need. You'll only factor in the clients you want to factor.

• Administrative support: The factoring company will handle the collections, credit reports, and online reporting at no extra charge. You can, therefore, invest in building your client base.

Staffing agencies Invoice Factoring

One of the challenges staffing agencies face is promising to pay workers on a contract basis on behalf of their clients. If you fail to pay the contractors, they will not work. As a result, it affects your client's operations.

When your clients don't pay their invoices for 30 days or more, what do you do? You turn to invoice factoring companies. You'll get the working capital you need by using invoice factoring for staffing companies. You can solve payroll issues, recruitment, and hiring costs by using invoice factoring. Factoring ensures you have a consistent funds flow, which gives you the confidence to bid on larger projects.

Manufacturing Invoice Factoring

Manufacturing companies have to buy large materials, pay overheard and contractors, and rent space. It is also common to offer customers long-term payment plans to remain competitive.

However, manufacturing companies with low cash flow will be unable to offer their customers trade terms. Invoice factoring allows you to continue attracting customers and maintain your cash flows.

Telecom Invoice Factoring

Waiting for 30 days or more for customers to make their payment can be challenging, especially when you have bills to pay. Invoice factoring is an excellent way to get the cash you need faster. Telecom and wireless companies that use invoice factoring don't have to wait for 30-60 days for carriers to make their payments.

You can get 90% of the invoiced amount when the invoice is generated. You can use the cash to meet your payroll, pay your bills and even invest in new resources. Invoice factoring allows you to speed up your cash flows.

Aerospace Invoice Factoring

Aerospace factoring is an excellent way to solve your cash flow problems in the aviation industry. You no longer have to wait for 30 to 90 days to receive payment from your customers.

Invoice factoring allows you to build enough cash flows to meet your customer demands, expand your business and pay your customers on time. The factoring company takes care of the back-office services, including free credit analysis and customer collection. You'll have more time to focus on growing your business.

If you are struggling with cash flow issues, Crown Factoring Services is here to help. We have served several industries and understand what it takes to build a successful business. You'll get your invoice advances in 1 or 2 days. Get in touch with us today to get started with your application process.