One Houston Financing Company - 4 Financing Options

With Crown Financial Services, you are getting an all-inclusive, one-stop shop for all of your business financing needs. When bank financing is not right for your company, Crown Financial is able to offer a variety of financing options to help your business grow and capitalize on your cash flow situation. Here are 4 different business financing options available to your business from Crown Financial:

 

Accounts Receivable Invoice Factoring

 

Our most popular form of financing, invoice factoring in Houston puts you in control of your money. Instead of waiting for invoices to get paid, factor your invoices for instant cash. Simply submit your invoices to Crown Financial, and within 24 hours, you will have the capital you need to meet your financial goals. One of the greatest benefits of invoice factoring vs. traditional bank loans is that it does not increase your business debt.

 

Construction Financing

 

Looking for financing to close a big real estate deal in Houston? Before signing anything, call Crown Financial to see how we can help you meet your goals. We are developers ourselves, and this expertise is invaluable in closing deals and underwriting large real estate projects. We underwrite projects nationwide, so geographic location is no obstacle.

 

Bridge Loans

 

Achieve your short-term financial goals by applying for one of our bridge loans. These loans allow you to bridge the gap while long-term financing is being secured. A bridge loan will give you the means to close on a foreclosure or take advantage of any Houston real estate opportunity in a flash.

 

Specialty Financing

 

Looking for specialty financing in Houston? Crown Financial offers these loans when backed by a variety of assets including inventory, aviation, vehicles, equipment, and more.

 

Call Crown Financial Services in Houston, Texas today to see how we can help you achieve your financial goals!

3 Advantages of Bridge Loan Financing

In today’s market, it is imperative to understand all of the financing options available to you and your business to ensure growth and stability. One such financing tool available to your small business: the bridge loan.

 

What is a Bridge Loan?

 

Bridge loan financing is a form of financing that fills the gap until a long-term financing solution can be found.  Let’s say you find a property in foreclosure that you want to pounce on immediately. A bridge loan may be the answer to securing the property while working out the long-term funding details. Bridge loans are a valuable asset to any business looking to grow and diversify.

 

How Can a Bridge Loan Work for Me?

 

Like all financial transactions, bridge loans have their pros and cons. Here are 3 advantages to using a bridge loan:

 

1.     Provides the Opportunity to Make Quick Decisions

 

Bridge loans are perfect financing tools for foreclosures or any real estate transaction that you are looking to close on quickly. Instead of waiting for a bank to process your long-term loan, a bridge financing company like Crown Financial can give qualified borrowers the funding almost immediately.

 

 

2.     No Long-Term Debt

 

As a short-term loan, the repayment period is shorter, normally designed to be paid off before the long-term loan goes into effect. Crown Financial in Houston, Texas offers repayment periods between 6-24 months, depending on your situation.

 

3.     Improved Financial Standing

 

Due to the short nature of a bridge loan, taking out the loan and repaying it in a timely fashion is likely to improve your overall financial standing – helping you qualify for better financing options in the future. 

 

Interested in a bridge loan to achieve your business goals? Call Crown Financial in Houston, Texas today. We strive to be the best bridge financing company in Houston, offering bridge loans as well as construction financing, other specialty financing, and invoice factoring.

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Crown Financial: More than just a Factoring Company

When Crown Financial was founded, we set out to be different than your average factoring company. In the early 1970s, factoring began as a source of cash flow for many businesses, but it wasn’t until the 1990s when people began to see the legitimacy and worth of this type of business model. When your business has capital at your fingertips, you can jump on any opportunity that comes your way, thus growing your business in the long-term.

 

While Crown Financial specializes in accounts receivable factoring, we also offer other valuable services to our clients, providing them a higher level of service than your average factoring company in Houston:

 

Credit Management

As a business owner, you have enough on your plate already. Crown Financial has the expertise to handle all of your credit monitoring for you. We have the ability to check your clients – both existing and prospective – to make sure they are in good standing with major credit bureaus and that they can pay on time. This is a valuable tool when you have a prospective new client who wants to place a large order, but you are unsure about their credit standing. Crown Financial makes it easy.

 

Collection Services

No one likes to hound client’s to pay their bills, let alone find the time to do so! When working with Crown Financial, you can count on us to monitor credit and handle collections issues so that you can focus on growing your business. Our team handles these matters in a respectful, professional manner, taking the utmost care to maintain your precious business relationships.

 

If you are looking for an experienced factoring company in Houston, give Crown Financial a call today! Our team can quickly walk you through the application process and start getting you more cash in no time!

 

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Crown Financial: Approved for Government Contract Factoring

Crown Financial in Houston, Texas has 25 years of experience in business financial services, specializing in invoice factoring and accounts receivable financing.  We are proud of the solid foundation, wealth of knowledge, and strong relationships we have built over the years. A testament to our viability is our approval for government contract factoring.

 

Experience You Can Trust

 

At Crown Financial, we understand how lucrative your government contracts can be! Securing a government contract is a huge step to growth, security, and increased visibility for any business owner. Let those contracts work for you by factoring your government contract invoices with Crown Financial. Our reputation precedes us as an honest, trustworthy partner to help you get the most for your money.

 

Knowledgeable

 

As with any government contract, there is a long list of government purchasing regulations that must be met. Crown Financial is intimately aware of these regulations and will always abide by the Federal Acquisition Regulations and theguidelines laid out in the Assignment of Claims Act. You can trust your federal, state, and local contracts are in good hands with Crown Financial.

 

Committed to You

 

Our mission is to “Help Your Business Do Business.” We understand how important those government contracts can be, and we want to do everything we can to be the best factoring company in Houston – helping you get the capital you need to grow your business. We would never do anything that would jeopardize your relationships or cause you to lose these precious contracts. Honestly and integrity are at the root of all we do.

 

If you have recently secured a government contract on the federal, state, or local level, start maximizing your capital today with invoice factoring from Crown Financial in Houston, Texas. We know the ins and outs of the factoring process so that you can focus on what matters – your business.

crown financial government factoring

Do you know your Factoring Agreement Terminology?

Last week, we discussed fees that you may see listed in your factoring agreement. This week, let’s talk about the agreement’s wording.

 

The factoring agreement – or contract – is a legally binding document drawn up by lawyers. And as is the case with contacts and documents of the sort, many of the terms listed can be confusing to the average reader. While this list is not exhaustive, understanding these commonly used terms will get you on your way to reading and comprehending your contract, and making sure you are getting the most out of your factoring agreement:

 

General Terms

Overarching terms that will be used throughout the document to address the parties involved.

 

·      Invoice Factor: Invoice factoring company, such as Crown Financial in Houston, Texas

·      Client: A client is you, the business owner.

·      Debtors or Accounts: Your business’s customers

·      Approved Accounts: Your customers that you are vetted as reliable payees, and the pool of companies from which you can invoice factor.

 

Financial Terms

Specific terms related to the exchanging of funds between you and the invoice factoring company.

 

·      Advance Rate: This is the percentage of money you will receive when an invoice is factored, generally around 80%.

·      Credit Line/Limit: Maximum amount of money you can fund through factoring.

·      Customer Limit: Just like a credit limit, but it is applicable to a specific company you work with.

·      Factoring Commissions: Specific fees that are payable to the invoice factoring company. These may be listed as monthly, yearly, one-time payments, etc. Be aware of the timing and frequency of these fees, because it matters just as much as the rates themselves.

·      Assignment: When an invoice is “assigned” to the factoring company for payment.

·      Minimum Annual Commission/Commitment: Minimum amount you must invoice factor per the term limit set, generally a year. Note: this means that if you decide to stop factoring invoices before the minimum is met, you may still owe more money, making your factoring less lucrative.

·      Recourse Period: The length of time a factoring company will keep your invoice open before requiring you to close it out, normally somewhere between 60-120 days.

·      Misdirected Payment: A payment that is paid by your clients to you vs. the invoice factoring company.

 

When working with a factoring company in Houston, be sure they are open and honest with you about all the contract details. Crown Financial has been in business for 25 years, and we are happy to walk you through the entire factoring process – from frequently asked questions to getting the factoring agreement signed. Give us a call today to get started!

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Be Mindful of these 3 Factoring Agreement Fees - Crown Financial

You have searched high and low for the best invoice factoring company in Houston, and have now settled on one. The contact is in hand, but do you know how to evaluate it?

 

When you receive a factoring agreement, it is important to understand the fine print. Where are the fees? How much am I getting upfront? These are important questions to ask. Let’s take a closer look and some of the details to be aware of in your invoice factoring agreement.

 

Many companies will bury the fees and nickel and dime you, making it unclear whether or not you are really getting the most money for your invoices. Here are a few fees to understand when reviewing your factoring contract:

 

·      Monthly Fees: Maintenance fees, lockbox fees, etc. are monthly fees on the amount factored. These are important to consider in the bottom line. The monthly fees may not seem like much, but be wary of these fees adding up. They can easily add up to an additional 2-5% in fees.

·      Origination/Draw Fee: Origination fees – or draw fees – are a flat rate fee that is assessed per invoice. A typical advance rate for factored invoices is 85%. If you are charged a 1% origination fee, then your net is really just 84%. Be mindful of these small fees that add up quickly.

·      Termination Fee: Some contracts have a guaranteed length of time to which you will be working with your invoice factoring company. Be aware of when that date is, and be sure you understand all fees associated with cancelling services before that date. Many companies will charge a termination fee, which is normally a percentage of your line of credit.

 

Need an honest, reputable invoice factoring company with 25 years of service under their belt? Call Crown Financial in Houston, Texas today. We will walk you through each step of the factoring agreement so you know what you are getting into before you ever sign anything. 

invoice factoring fees

Factoring Companies to Avoid

All invoice factoring companies are created equally, right?

 

Unfortunately, this is not the case. Each invoice factoring company in Houston varies in their level of experience, depth of capital, and the way they run their business. When consider which factoring company is right for you and your business, avoid companies with the following:

 

·      Low Advance Rates: The entire reason to use a factoring company is to maximize your cash flow. Make sure that company is really working for you by providing at least 85% of your invoice value upon invoice approval. Accepting anything less is selling your business and growth potential short.

·      Hidden Fees: No company wants to be nicked and dimed. Determine up front whether or not your factoring company charges hidden fees for bank transfers, origination fees, cancellation fees, etc. All of these extra costs can add up, creating additional hardships and headaches for you and your company.

·      Contract Restrictions: Avoid companies that force you to submit every invoice for invoice factoring. It is your business, and it should be your choice as to which invoices you choose to factor. Choose a company that allows you the flexibility to factor when it is beneficial to you.

·      Lack of Experience: This may seem obvious, but avoid companies that do not have a proven track record for success. New factoring companies have come into the market in recent years and do not necessarily have the capital or experience to help your business maximize its potential. Look for a company with a proven record.

 

If you are looking for an invoice factoring company in Houston, Crown Financial would love to talk with you. With over 25 years of experience, we have survived through the ups and downs of the financial market and have worked with clients from varying industries. Give us a call today to see how we can help you and your business thrive through the best invoice factoring service.

 

invoice factoring crown financial

Things to Look for in an Invoice Factoring Company

Factoring is an excellent financial tool to help you continue business as usual, even before your clients pay their invoices. Making payroll, accounts payable, and growing you business is all stress free when an invoice factoring company is involved.

 

When choosing a factoring company in Houston, consider looking for these important points:

 

·      No Application Fee: Do not let a company charge you to fill out an application. Look for a company that has no application fee, but wants to help you grow your business and help you succeed instead.

·      Quick Turnaround: While all factoring companies will want to vet your companies credit standing and viability, do not let the application process take too long. Look for a company that will turn your application around in less than 48 hours with a response. Crown Financial will actually do you one better and will respond within 24 hours of the recipient of all paperwork.

·      Quick Funding: The point of invoice factoring in Houston is to give you the cash flow to continue business as usual and take advantage of new business opportunities. Look for a company that pays cash quickly. Crown Financial will begin paying cash via wire transfer as soon as all paperwork is approved. When invoices are submitted, you can expect payment with 24 hours of submission.

·      Information at Your Fingertips: Do not let your factoring company keep you in the dark. Look for a company that is going to keep you informed on invoice payment status, changes in your clients’ credit rating, approvals, funding, etc. You want to know that your factoring company is a part of YOUR team and has your best interests in mind.

·      Experience: Factoring companies may all seem the same, but look for those that have been in business for quite some time and can prove their solvency. Crown Financial has been helping clients succeed for over 25 years, working with all industries and types of businesses. Our experience and depth of capital make us an obvious choice above the competition. 

Improve Your Factoring Application in 5 Easy Steps

Factoring companies focus on the credit of your customers more so than the credit of your business; however, it is still important to show validity when completing a factoring application. Follow these 5 easy steps to improve your approval rate and begin collecting cash today:

 

1.     Become a Business Entity: Just because you become an LLC or other business entity does not mean that you give up control of your business. As a sole proprietor, you run higher financial risk. When you become an LLC or corporation, you are showing a factoring company that you are a less risky client, business savvy, and are going the extra mile to make your business succeed.

2.     Have an Online Presence: In this digital age, having a presence online demonstrates your legitimacy to potential factoring companies in Houston. Create a business web page if you haven’t already done so. Become active on Twitter, Facebook, and other social media sites. Have a LinkedIn profile. All of these things show factoring companies that you are committed to your business’s success.

3.     Be on File with the Secretary of State: After forming an LLC or corporation, it is important to register with the Texas Secretary of State’s office. Any factoring company will verify your credit standing and check for unpaid taxes, so showing you are in good standing with the Secretary of State’s office and have paid your taxes in full is key to a successful factoring application.

4.     Submit a Stable Company’s Invoice: Since factoring relies heavily on the credit of your customer, consider including a sample invoice from a blue chip customer who has excellent credit standing and regular business dealings with your company.

5.     Keep your Documentation in Check: Showing an invoice factoring company that you have all your files in order is an important step toward an approved application. Keep all purchase orders, contracts, invoices, and payments well documented.

 

Looking for a factoring company in Houston? Call Crown Financial and fill out an application today.

 

factoring application

Factoring Invoices vs. Bank Loans

Many believe that factoring invoices with a factoring company in Houston is just like taking out a bank loan, when in fact; both forms of financing are very different.

 

Bank Loans

 

Every business owner understands the impact of a business loan. Financing is based on credit history and individual operations. While this traditional means of gaining capital may feel comfortable, it does have its drawbacks. Obtaining financing through a bank loan may be simple for some seasoned businesses, but a start up will likely find this process more difficult. Not to mention, increasing your credit may not be feasible in the early stages of your business. With a bank loan, payments – plus interest – are made over time and your funding is capped at a certain amount.

 

Factoring Invoices

 

Factoring is often an option for companies that have difficulty getting financing through traditional means, such as start-ups. In fact, many bank loan officers will send clients to factoring companies in Houston. First and foremost, factoring does not produce any debt to be repaid. You simply go through the application process, gain approval within 24 hours, and funding begins immediately. There is no cap on the amount of funding potential and approvals are based on the credit history of your clients. One of the best things about factoring invoices is the flexibility and speed. Once an invoice is submitted, money is transferred almost immediately to you via wire transfer. It is up to you as the business owner to decide which invoices get factored and how often factoring should take place. You are in control, not the bank.

 

If you are interested in exploring financing options through invoice factoring, give Crown Financial a call today. With over 25 years of experience, our team is well equipped to handle your accounts with the quality and expertise you deserve.

 

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Common Misconceptions about Factoring - Crown Financial

Factoring invoices is a commonly misunderstood and underutilized strategy for producing a cash flow that can, in turn, grow your business.

 

Misconception #1: Factoring is a loan.

 

Factoring is not a loan, but in fact the purchase of a financial asset – your receivable. Unlike a loan, the focus of the partnership is on the cash and the quality of the receivable at hand; the credit rating or risk is not taken into account. All three parties – your company, the factoring company, and the invoiced client – are a part of the transaction.

 

Misconception #2: I lose control of my company with factoring.

 

Factoring is a tool to help you gain MORE control of your company by giving you the capital you need to grow your business, pay your bills, etc. There is no need to be tied up in the hassle of invoice payment. Crown Financial will keep you informed with up-to-the-minute reports on all of your accounts, monitor your clients’ credit, and more.

 

Misconception #3: The process for getting cash is slow and costly.

 

When working with Crown Financial, invoices are funded via wire transfer on a daily basis. You can expect to receive cash with 24 hours on most cases. Our typical payout per invoice is 85%, but this can very based on the individual client. And if you do not want to factor all invoices, you do not have to do so. The choice is completely yours!

 

Crown Financial has been working with companies for over 25 years to grow your business through factoring. While many claim to be experts in the field, Crown Financial can confidently say that we are experts given our wealth of knowledge, experience, and deep capital reserves available. Give us a call today and see how factoring invoices in Houston, Texas can work for you.

 

factoring invoices crown financial

Turn Your Invoices into Cash: The Benefits of Factoring with Crown Financial

What business is not looking for ways to increase cash flow and minimize the effort it takes to get outstanding invoices paid?

 

Crown Financial is your one-stop shop for getting cash up front, so that you can continue to grow your business, while letting us handle the dirty work. If you have not considered factoring invoices, here are some benefits to consider now:

 

·      More Working Capital: When you use invoice factoring with Crown Financial in Houston, Texas, there is no need to add debt or dilute equity to get working capital. You have cash at your fingertips.

·      No More Payroll Headaches: With factoring, delays in payments do not give you cash flow headaches, leading to payroll woes. It is cash you can count on.

·      Increase Your Profits: With cash on hand, you are able to take advantage of growth opportunities as they present themselves.

·      Improve Supplier Relationships: When you have capital on hand, it is much easier to pay your own bills quickly and efficiently. Expect to see your supplier relationships flourish, in turn leading to opportunities for discounted supplies and other perks.

·      Greater Inventory Management: As a business owner, your job is to take advantage of opportunities as soon as you see them. Consistent cash flow allows you to purchase inventory when necessary, take advantage of bulk discounts, increase production at the drop of a hat, and ultimately fill more orders.

·      Thorough Credit Assessments: Crown Financial’s extensive credit database allows us to effectively offer advice on a client’s credit risk, recommend credit limits, and monitor those credit limits on an ongoing basis. Our team is well-trained to offer solutions that will ultimately make your business more profitable. 

 

Ready to turn your invoices into cash? Give Crown Financial in Houston, Texas a call today.

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