WIMPY'S FINANCES
For those who remember the corpulent character J. Wellington Wimpy or better known as just “Wimpy,” who appeared in the popular and long-running cartoon, Popeye the Sailor, they may also recall that Wimpy was always short on cash.
In fact, perhaps Wimpy’s most memorable statement was the classic, “I’d gladly pay you Tuesday for a hamburger today.” Well, if Wimpy had been savvy enough to enlist the services of a factor, such as the experienced financial experts at Factor King, he not only would have had his hamburger immediately but he also wouldn’t have to pay for it on Tuesday or any other day.
That’s because with factoring, also known as Accounts Receivable Financing, a company sells its accounts receivable to the factor at a discount and in return gets quick cash that the company can use for a variety of things from covering payroll and paying vendors to purchasing new equipment to help facilitate growth and expansion plans.
Plus, unlike a traditional small business loan, with factoring there is no accrual of debt.
In addition, factoring allows business owners to keep control of their company and gives them the ability to grow at their own pace. Smart business owners will also use the surplus cash for speedy-pay discounts from suppliers. For many businesses, factoring can be an effective long term cash flow management solution and not just a quick fix.
So, if your company has a voracious appetite, just like Wimpy, get your hamburger today. Factor Kings’ experienced staff will make sure you don’t go hungry. Call toll-free at 888-919-7770 or visit www.factorking.com.
Reader Comments