From its inception, William wanted to take advantage of the flexibility and reliability of invoice factoring for his company Tourcom. William, a truck mechanic in his previous career, knew from the outset that he would need steady cash flow to keep his truck on the road. He was smart enough to plan for repairs and upgrades right out of the gate especially because he started with a used truck. Business grew much faster than anticipated and expensive repairs quickly became an issue. “As a new business owner, one of the first things you realize is the inherently unpredictable highs and lows in your cash flow,” explained William. Smoothing out cash flow was essential for him.
William was interested in factoring and had incorporated it into his business plan from the get go. Through factoring he was able to take care of the truck, getting it fixed rapidly. Furthermore, factoring invoices with eCapital gave William the ability to select only those customers that took longer to pay or the ones he just didn’t have time to deal with. “eCapital has been able to create a convenient way of processing my accounts receivable by paying me in a day and collecting from my customers in 30 days,” said William. “Getting paid sooner than later provides a better way for me to manage cash flow. Now, I can handle maintenance, unexpected repairs, fuel for the next load, and I am even building a cash cushion for future growth.”
Because his cash flow is under control, William has the confidence to start his expansion plans to purchase a second truck. His dream of running his own business is really taking off.
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