Keep your company's cashflow strong

Invoice Financing / Factoring

Staying On Top

Cash Flow is one of the most important aspects of any business. Invoice Financing can help keep your cash flow strong and protect your business.

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Instant access to money through your receivables

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Digital onboarding, includes agreements and signatures

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Funds released within 24 hours from approval

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Simple pricing

Cash in on the benefits of invoice finance

Factoring, Invoice Finance, Cashflow Solutions and Business Loans

Whether you’re new to business or have been around the block, you’ve probably noticed that customers are often slow to pay and cash is sometimes not as abundant as you would like. Factoring, or Invoice Finance, can deal with both these challenges and offers a smart tool for maximizing the flexibility of your business.

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Our Services

Worcaps are experts in cashflow solutions for small, medium and large businesses.

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Staying on top of your supply chain and invoicing

Trusted by more than 50 independent agents and hundreds of businesses in Puerto Rico, Mexico, Dominican Republic, USA and Latin America.

Take control of your cash flow with invoice finance, and don’t wait for a customer to pay their invoice before you grow.

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Business Finance

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Invoicing

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Your Future

Why Introducers choose us to help raise business finance for their clients.

Invoice finance means that your clients are invoiced as normal under agreed standard terms yet you have access to those funds once invoicing has happened. In simple terms, you’re paid straight away, while Worcaps is paid in 30 – 90 days time. There’s no catch, clearly explained, competitive fees with the added benefit of less administrative work leaving you more time to get on with your main business task.

These days, factoring is one of the best ways in which businesses can avoid the problems associated with negative cashflow. Forget the constant phone calls and email to your client’s accounts team and forget payments that are eventually made on 60 days or beyond.

Invoice financing through a Factor is the way forward for a modern business that’s looking to establish itself, develop or move forward on to the next level.

Based in Puerto Rico, Worcaps is a well-respected business finance company that offers an array of finance solutions to fit your business from longer term business growth loans right through to flexible short-term arrangements to spread the cost of Self Assessment liabilities or Tax.

If now’s the time for your business to start thinking about the next stage, then now’s the time to start talking to us at Worcaps.

At Worcaps we specialize in helping businesses overcome these issues, enabling them to get on with what they do best, leaving cash flow to the professionals and the administration that surrounds it, to us.

The problem with modern day businesses is you often become reliant on the flow of cash from certain, regular clients. You use it to fund the business, pay the staff and keep the supply chain working properly. You only need a slight interruption to the supply chain, such as a client not paying on time and suddenly the ‘knock on’ effect can be massive, especially if you don’t have significant cash in reserve. We can source invoice finance plans to suit your business.

Plan for tomorrow

You may have a great cash flow position today but it’s difficult to be certain about tomorrow. The fact is that many reasons for cash flow issues are outside an individual business’s control. These include customers failing to make payments; banks changing your security rating or assessing an industry as more risky; and sudden or unexpected bills like tax.

If something happens that could impact your cash position, you’re going to need to move fast to protect your business. You could consider setting up a standby invoice finance facility with Worcaps to protect your business from unexpected setbacks.

A standby facility is free to set up and you don’t pay unless you access the funds. Having a standby facility means that you can access lending in the fastest possible time because you’ve already completed all the paperwork. So you can rest easy in the knowledge that you can react quickly to unexpected cash flow setbacks, and keep your business operating while you plan your long-term strategy.

Invoice finance is a flexible short term funding tool that can give you fast access to cash when your business needs it. With invoice finance in your toolkit, you’re free to take control of your cash flow, and you don’t have to wait for a customer to pay their invoice before you take your business to the next level. Even if you don’t have an immediate need, you may benefit from setting up a standby facility to prepare your business for unexpected cash flow problems.

Factoring

Who can benefit from invoice finance?

Invoice finance can work for any business that invoices its customers. It’s particularly effective in situations where a business needs fast access to cash for a short period of time, especially if you don’t want to impact existing finance arrangements.

Here are some situations where invoice finance can really help:

Managing day to day costs if your business finds itself short of cash.
Dealing with frozen or reduced funding from the bank – invoice finance could give you time to find a long term solution without experiencing a cash flow crisis.
Dealing with a change to your security rating from an existing finance provider.
Seizing a growth opportunity when you don’t have the cash to make it happen.
Bridging the gap between delivering goods and receiving payment: this can be especially important in industries like labor hire if you have to manage weekly pay cycles.
Funding an internal project or opportunity.
Dealing with cash flow fluctuations in a seasonal business.
Providing funding if traditional lending facilities can’t help.

maximize the flexibility of your business

Cash in on the benefits of invoice finance

Those who haven’t used factoring or invoice finance are often unclear about what it is. But those who have benefited from it rarely miss a chance to praise both its flexibility and its practical applications. Invoice finance is a great tool to have in your financial toolbox. Here’s some detail on how it works and how you can use it.

Fast access to cash can be achieved with invoice finance when your business needs it. Taking control of cash flow is easy with invoice finance, and you don’t have to wait for customers to pay before you take your business forward. If you don’t have an immediate need, set up a standby facility to be prepared for unforeseen cash flow problems.

How invoice finance works

You invoice your customers when you have delivered a product or service. Your customer then has a number of days to pay the invoice but your business needs the cash straight away. What do you do? Use Invoice Finance.
With invoice finance you sell your unpaid invoice to a finance company, like Worcaps. The finance company then advances you a percentage of the invoice value – usually between 80 and 90%. When the invoice is due to be paid, your customer pays the finance company directly and they deduct their fee and then pay you the remainder of your balance.
Depending on the finance company, you can choose to finance a single invoice or a group of invoices. This flexibility is great to allow you to match your finance to your needs exactly, ensuring you can finance your opportunities while avoiding the cost of unnecessary debt.

What are the benefits of invoice finance?

Invoice finance is quick to set up and deliver.
You are effectively borrowing money you’ve already earned, so you know when your customer pays their invoice your debt is cleared.
Because the debtor works as security, the amount you borrow can be more flexible. You can choose to finance single or multiple invoices depending on your business needs.
Your finance agreement only lasts until your customer pays your invoice.

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Purchase Order Financing

Maintain customer relationships, and capitalize on growth opportunities.

Receive cash advances for purchase orders through purchase order financing.

Worcaps will pay your supplier up to 100% of the cost of producing and delivering the goods to your customer. When your customer receives the goods, you will invoice them for the fulfilled order and they will pay Worcaps directly.

Purchase order financing provides immediate cash flow to businesses to fulfill customer orders.
It’s a flexible funding option available to businesses of all sizes and financial standings.
Helps businesses maintain customer relationships by fulfilling orders on time.
Lower risk than traditional loans as it’s based on a specific purchase order or contract.
Enables businesses to take on larger orders, leading to increased sales and growth opportunities.

Flexible funding option

Cash in on the benefits of Purchase Order Financing

Purchase order financing (PO financing) is a funding solution that provides businesses with the capital they need to fulfill customer orders. It’s a type of short-term financing that helps businesses cover the cost of manufacturing or purchasing goods to fulfill an order, without having to wait for payment from their customers.

PO financing is becoming increasingly popular among businesses of all sizes as it provides a flexible funding option that can help take advantage of growth opportunities, maintain customer relationships, and improve their cash flow. In this era of growing competition, PO financing has emerged as a powerful tool for businesses to fulfill orders and expand their operations.

Process

Why choose Worcaps’ Cash Flow solution?

Invoice factoring has been revolutionized with our digital onboarding process:

Instant access to money through your receivables
Digital onboarding (Digital agreements and signatures)
Client Trust Account
Funds released within 24 hours from approval
No uncleared effects
Simple pricing

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Get answers to your questions

Understanding factoring and what an invoice factoring company does

Our questions and answers can help you learn more

How does the invoice factoring process work?

Supply the goods: Supply your customers with goods or services and invoice your customers as normal.
Your factoring company will handle the credit control: Your factoring company will release up to to 90% of the raised invoice value. Your customers will pay the factoring company directly and chase payment of the invoices on your behalf.
You receive the money: Once the customer settles the invoice, the finance company will release the remaining invoice amount to you minus the relevant fees.

Is invoice factoring right for your business and industry?

Generally speaking, invoice factoring facilities are best suited to companies that sell to other businesses on credit terms.

Invoice factoring can be used by any industry that sells products or services to another company but in particular industries that suffer cash flow problems due to the nature of their business.

Industries that experience high production costs, seasonal sales slow downs, slow paying clients, experience unexpected growth and other unpredictable costs affecting their day to day operational cash flow use factoring as a non debt solution to their cash flow problems.

These industries will include (but are not limited to) manufacturing, construction and service industries, trucking companies and staffing agencies.

Expand your operations
Invest in stock, machinery or equipment
Employ new members of staff
Fix long-standing issues with cash flow

What are the advantages and disadvantages of invoice factoring?

Advantages of invoice factoring:

Benefit from improved cash flow.
Enjoy better working capital, which means more money for growth projects, staff training or stock purchases.
Be able to move away from more restrictive forms of finance, like small business loans or overdrafts.
Benefit from your chosen finance provider’s in-house credit control processes.
Be able to focus on running your business, instead of chasing clients for payment.

Disadvantages of invoice factoring:

There are some disadvantages of invoice factoring too – your clients will be informed that you’re using an invoice factoring service, and your factor will contact them to collect on factored invoices which means that:

The image of your company may be affected, particularly if your clients assume that you are not established enough to oversee your own credit control.
There are some companies that are not willing or able to change their payment instructions directly to their factor. In such cases, we setup an alternative process, which may take a little longer.

What are the advantages of working with Worcaps’ Cash Flow as your factoring company?

Flexibility – your funding line increases at the same rate as your turnover meaning that you don’t need to renegotiate terms.
Improved cash flow – release money tied up in unpaid invoices and boost your cash flow.
Bargaining power – Invoice discounting can help you to negotiate better terms with your suppliers.
Faster growth – grow your business at a much faster rate due to the flexible funding line.
Award-winning service – benefit from our award-winning client service.

What is a factoring company?

A factoring company buys a business’ unpaid invoices in return for a factoring fee which is deducted once the full payment has been collected from the customer. A factoring company enables businesses to release cash by purchasing their invoices at a discount.

Most factoring companies are recourse arrangements, which means that you will be responsible for any unrecoverable invoices, as Worcaps is not a debt collection company.

What is factoring?

Factoring is when a company purchases the accounts receivable of another. It provides working capital to the first party while they continue trading, and can be used to reduce debt, or enable growth.

What is invoice factoring?

Invoice factoring is when a business sells its invoice to a third-party company. It’s a form of invoice finance and will give your business an effective way to improve its cashflow position.

The invoice factoring provider provides the credit control service to recover payment of the unpaid invoice. Invoice factoring companies allow you to release cash from your unpaid invoices quicker than having to wait between 30 to 90 days – and sometimes up to 120 days – for your customers to pay you.

As your acting invoice factoring provider we handle your credit control, allowing you to concentrate on other areas of the business instead of chasing up late payments.

What is the definition of a factor in financing?

A factor is an intermediary between the company and its customers. The factor effectively buys an invoice at a discount and then collects payment from the customer based on the full value of the invoice. This business relationship allows companies to obtain capital they need to operate and expand, whilst also ensuring any suppliers are paid promptly.

Quick takeaways if you’re in a hurry

If you invoice your customers you could be using invoice finance.
Invoice finance is flexible to a wide range of needs and situations, and can be adapted for both small and large cash flow requirements.
Keep debtors out of any security agreements for existing finance arrangements and you should be able to boost your cash flow with invoice financing.

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Invoice finance quote calculator

Please note that costs are an estimate only and are based on the entered values. Your final quote may change once a Business Development Manager has assessed your business in more detail.

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Sales

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Sales

Supply the goods

Supply your customers with goods or services and invoice your customers as normal.

Funds

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Funds

Credit control

Worcaps will release up to 90% of the raised invoice value. Your customers will pay the factoring company directly.

Settlement

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Settlement

You receive the money

Once your customer settles the invoice, Worcaps will release the remaining invoice.

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Complete the form below with a few words about your requirements for a free Consultation.

Get a no obligation quote or call us on the number below to have a chat with one of our invoice factoring experts.

Contact us on +1(787) 568.67-54 or at info@worcaps.com.

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