Fund Your Business
How to Fund Your Business: Essential Finance Strategies
Discover comprehensive strategies to fund your business, from traditional loans to innovative financing solutions. Learn how Velocity Financial’s invoice factoring and industry-specific insights can empower your business with the capital it needs for growth and stability.
Advantages of Invoice Factoring with Velocity
Accelerated Cash Flow
Invoice factoring advances cash to your business upfront, eliminating the typical 30 to 90+ day wait for customer payments. This immediate cash flow allows you to concentrate on what’s essential—scaling your business.
Rapid Funding
True to our name, Velocity provides swift funding solutions, with same-day funding for existing clients and quick turnaround for new clients.
Simple & Clear
Velocity’s simple rate structure makes understanding and predicting your fees easy so you can focus on running your business.
Expertise Across Industries
With over 60 years of combined experience in key sectors like oil and gas, staffing, renewable energy, and trucking, Velocity offers flexible working capital solutions to meet diverse business needs.
Fuel Business Growth
Leverage the additional cash to expand your team, upgrade equipment, and increase inventory without the hurdles of traditional banking.
Velocity’s Proven Process
Velocity’s proven process provides a simple and efficient way to help you go from interested prospect to satisfied customer. We understand time is of the essence and will use this process to quickly put in place a factoring facility that will help you grow your business and meet critical expenses such as payroll.
Gathering Information
- How Can We Help
- Complete Online Application
- Collect Documents
Underwriting
- Approve Customers
- Review Financials
- Background/Credit
- Sign Agreement
Onboarding
- Velocity Portal Setup
- Upload Invoices
- Collect Customer Contact Info
Funding Approval
- Notice of Assignment
- Invoice Verification
- You Receive Funds
Collections
- Velocity Follows Up on Invoice Status
- Velocity Receives Payment From Customer
- You Earn Cash Reserve
Ongoing Customer Service
- Dedicated Account Manager
- Good Communication
- Quality Reports
Factoring Insights
Why Choose Velocity Financial for Funding Your Business
Velocity Financial specializes in providing tailored invoice factoring solutions designed to meet the unique funding needs of businesses across various industries, including oilfield, staffing, and renewable energy.
By choosing Velocity Financial, businesses benefit from:
- Immediate access to funds without the need for traditional loans.
- Industry-specific expertise that understands the unique challenges of your business.
- A partner committed to transparency, with no hidden fees or complicated contracts.
- Support beyond funding, including free customer credit checks and collections management.
- A team with a proven track record, ready to support your growth every step of the way.
Explore how Velocity Financial can fund your business and why we are the preferred choice for businesses seeking flexible, efficient funding solutions.
Contact us today to discuss how we can support your business’s financial needs and goals.
Get Started Today
Help your business meet it’s cash flow needs with Velocity Financial. Discover how invoice factoring can provide you with a flexible option to grow your business. Our experienced team is committed to getting you the funds you need quickly and working hard to help you grow your business.
FAQs About How to Fund Your Business
What are the key methods to fund a small business?
Small businesses can explore several funding options, including small business loans, invoice factoring, crowdfunding, angel investors, venture capital, business lines of credit, and grants for targeted growth initiatives.
How does invoice factoring work as a funding solution?
Invoice factoring involves selling your outstanding invoices to a factoring company like Velocity Financial at a discount. This provides immediate cash flow, allowing you to fund operations without waiting for customer payments.
What makes invoice factoring a preferable choice for business funding?
Invoice factoring offers quick access to capital, improves cash flow management, and doesn’t require collateral like traditional loans. It's also based on your clients' creditworthiness, not yours, making it accessible for many businesses.
Are there any specific types of businesses that benefit more from invoice factoring?
Businesses in industries with long invoice payment cycles, such as manufacturing, staffing, oilfield services, and renewable energy, often find invoice factoring particularly beneficial for managing cash flow and funding growth.
What are the advantages of using crowdfunding to fund your business?
Crowdfunding can validate your business idea, engage a broad audience, and provide funding without giving up equity or incurring debt. It also allows for creative marketing and community building.
How can startups access capital for growth?
Startups can access capital through angel investors, venture capital, startup financing options, crowdfunding, and invoice factoring for businesses with active sales but delayed payment terms.
What should businesses consider when choosing between a business loan and invoice factoring?
Businesses should consider their ability to take on debt, the speed at which they need funds, the stability of their cash flow, and their customers' payment habits. Invoice factoring can be more accessible and quicker than securing a business loan.
Can businesses with poor credit access funding through invoice factoring?
Yes, because invoice factoring primarily considers the creditworthiness of your clients rather than your business’s credit score, it can be a viable option for businesses with less-than-perfect credit.
What documents are typically required to apply for invoice factoring?
Applying for invoice factoring usually requires basic business information, a list of clients, and details of outstanding invoices. Specific requirements may vary by factoring company.
How do grants contribute to small business funding, and how can businesses find them?
Grants provide non-repayable funds to businesses, often for specific projects or growth areas. Businesses can find grants through government websites, industry associations, and grant databases, focusing on criteria that match their sector and needs.
Velocity Financial
Headquarters
400 West Illinois Ave., Suite 1120
Midland, TX 79701
M-F 8am-5pm
5757 Woodway Drive, Suite 329
Houston, TX 77057
M-F 8am-5pm
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