George Orwell, in his seminal work from 1945 entitled Animal Farm, wrote, “All animals are equal, but some animals are more equal than others.” You may not be familiar with Orwell’s work, but you likely are all too familiar with evidence of his premise: that all animals (businesses, people, governments and other entities) may appear the same, but they definitely are not.
In the same vein, all factoring companies are not the same. JOBE Services, Inc. in Humble, Texas, frequently encounters skeptical business owners that have been warned to beware of factoring because of dishonest practices and other risks. As a reputable and well-established factoring company, we are well aware of shady businesses that give factoring a bad name. Here are three shady practices that these unethical businesses use.
Above-board factoring companies like JOBE Services, Inc. provide a completely transparent and simple fee schedule for clients. Shady companies advertise a certain low fee for invoice factoring, but then add on numerous hidden extra fees that undermine your ability to fund your business needs. These fees are usually buried in long, wordy contracts that lock you into long-term commitments that you may not want or need. Beware any factoring company that does not quickly and openly explain their fee structure up front.
JOBE Services, Inc. has been in business since 1996, providing solutions to cashflow problems for small and medium-sized businesses all across Texas and beyond. This means you can depend on us to have the capital assets available to keep the cash flowing, regardless of the size and number of your invoices. Shady factoring companies usually have limited assets or caps on the amount of cash you can acquire, but this is often hidden deep within complicated contracts.
No Online Access
JOBE Services, Inc. believes in transparency and complete access. We have an online portal and a mobile app that allows you to view and control your account with us as you wish, any time night or day. Beware of factoring companies that require only face-to-face interactions and limit your access to your own account information. This is usually a sign they have something to hide.
Factoring is not a loan and it is not something to fear. Investigate how ethical and legal factoring can work for your business by contacting us at JOBE Services, Inc. today.