What Will My Customers' Think?
This question tends to be of concern for companies who are considering factoring as a form of financing for the first time. We at Texas Factors can assure you that factoring is a positive statement to make to your customers. A $150 billion dollar industry and growing, factoring is a traditional financing option for all businesses, and has been around in various forms for several centuries. Some of the largest companies worldwide use factoring as an important part of their overall financing strategy.
Common questions:
Q: How will our customers be treated? A: The relationship and goodwill that you've built with your customers will be treated with the utmost respect. Your personal Account Executive will discuss any issues of concern to you in this regard in a professional and timely manner.
Q: If customers know that my invoices are factored, won't they take longer to pay? A: No. Often, just the opposite is true. Large corporations will continue to adhere to their credit policy and pay accordingly, because it makes no difference who the creditor is. Smaller companies tend to pay faster, knowing that we, as a Factor, are an influential credit-reference resource and a prime reporter of credit information to credit bureaus.
Q: Will my customers think I'm facing financial difficulties if I factor? A: Not at all! As long as it's handled by a professional company such as Texas Factors, your customers will understand that you're taking the necessary steps to meet business demands. Many companies are already familiar with factoring, since it's a $150 billion dollar business annually!
