Although factoring has been around for quite some time, and is a completely legitimate, legal and beneficial financial tool, many misconceptions still abound. JOBE Services, Inc. out of Humble, Texas, has been providing factoring services for small and medium-sized businesses since 1996, and the same objections and worries seem to surface over and over again.
Below are some important truths that can clear away the confusing fog surrounding factoring, and perhaps help you decide to give it a try for your Texas company.
Factoring is NOT a Loan
Factoring is not a loan. With factoring, you are simply leveraging money you have already earned, money that already belongs to you. Factoring allows you to get your money from outstanding invoices right away – sometimes even the same day – instead of waiting 30, 60 or even 90 days for payment from your clients.
Factoring is NOT a Scam
Factoring is not a scam, scheme or dirty way of doing business. It is a completely credible financial tool that enables you to get cash fast from outstanding invoices. For a small fee, and no hidden fees or contracts, JOBE Services, Inc. provides you cash for your invoices; then we collect from your clients on your already-approved invoice terms. Everything is completely legal and ethical.
Factoring Does NOT Require a Credit Check
Factoring is not a loan; therefore, it does not require a credit check. In fact, factoring depends more on the good credit and faith of your creditors. If you trust them to pay you on your contract’s terms, we will, too. You have already earned your money and are waiting to be paid – we simply provide you cash now instead of waiting for payment. Your business credit remains intact.
Factoring Does NOT Harm Your Business Credit
Factoring is not a loan, as we affirmed above. There is no credit check, so there is no harm done to your business credit. Literally hundreds of Texas businesses use factoring on a regular basis to maintain a regular cash flow to cover payroll, fuel costs, material costs and more. In fact, factoring can enable you to make payments on time, strengthening your credit and not harming it. With JOBE Services, Inc., factoring is on your terms with no contract. You can use us regularly, sometimes or just once in a pinch. It’s totally up to you.
Are you ready to consider factoring to improve the cash flow in your small or medium-sized Texas business? Contact us today with your questions or to set up an account.
Posted on behalf of
19747 Hwy 59N, Ste 425
Humble, TX 77338
Monday - Friday 8:30AM - 4:30PM