You have problems collecting from clients or customers. We have the will and the ways to get monies owed.
Why wait to get paid for the hard work that your business has performed when BP Financing can take care of it for you?
BP Financing is a factoring company that can help you get your bills paid while relieving you of the work and the worry of making it happen.
For 15 years, BP Financing has served as a solid partner for businesses who want to keep their focus on productivity while getting paid promptly.
Who We Are
BP Financing provides accounts receivable solutions for your business. When you need money fast to use immediately, BP Financing works with you to get the cash you need upfront.
Our mission as a company lies in helping other businesses, especially small businesses with limited resources, get the cash they have earned so they can use it when they need it, not when clients or customers decide to pay.
What We Do
Our business helps you through a process called factoring.
When businesses submit an invoice for goods and services, even getting paid on time means waiting four to six weeks for the money.
If your business needs the cash right now, our factoring service can help.
Factoring in accounts receivable means that we take the effort of collecting the bill off of your hands. The account is not necessarily delinquent, so we engage in the same type of collection efforts that you would.
Once we assume the burden of collection, we pay you a certain percentage of the amount owed. We can pay up to 95 percent upfront, but the amount will vary depending on a number of variables. Once we collect the bill, we deduct our fees and turn over whatever amount remains.
For example, if the bill turned over to us is $1,000 and we pay 90 percent upfront, you receive $900 within 24 hours. That money belongs to your company free and clear, meaning you can apply it in any way you need.
Most of our clients think of our service as providing an almost immediate advance on their billing.
The Benefits of Collection Using a Factoring Company
Small businesses can find themselves spending a large number of work hours in collections. Sending invoices, performing follow-ups when necessary, and engaging in other collection-related activities takes time away from core business functions.
In other words, we believe that you should concentrate your efforts on what you do best. Focus on producing goods and services while we concentrate on the following:
• Obtaining payments faster
• Providing you money upfront with no charged interest
• Preventing you from accruing new debt
• Allowing you to almost immediately reinvest your money into growing your business
• Keeping you from waiting for payments from habitually slow customers or clients
• We take all of the risk out of billing, paying you upfront for goods and or services rendered to your customer or client
Most companies use factoring services as a convenience that comes at a reasonable cost. In some cases, using a factoring service instead of employing a full time accounts receivable collection specialist can save money for your business overall.
Reach Out Today
Learn more about how factoring can help your business keep the focus on productivity. Our staff will be happy to answer any questions about how factoring works and how it has brought benefits to our clients in a wide range of industries.
Visit our site today to see how easy it is to sign up, submit your paperwork, and get paid through us.