Funding Solutions for Your Auto Glass Business
What Exactly is
The auto glass industry, while profitable, is undoubtedly very competitive. Many shop owners operate on small cash flows and often run into a situation where their outgoing expenses occur more quickly than their incoming revenue. These upfront costs include anything from glass and supplies purchased from vendors, to recurring business expenses like office rent, vehicle payments, and payroll for employees and technicians. On the other hand, insurance companies and glass claim intermediaries can take a substantial amount of time to pay on submitted claims. Payments may take 30, 45, sometimes 60 days or longer, creating a problematic cash flow shortage.
Thankfully, there is a solution. Shops owners can accelerate revenue by factoring invoices. Invoice factoring is the purchase of a shop owner’s invoices by a factor, a company that specializes in the purchase of accounts receivable. To think about it another way, shop owners sell their invoices to a factor at a discounted rate. This rate varies from company to company but is usually between 2-5%. The sale of invoices provides auto glass companies with immediate, useable capital, which allows the company to increase and maintain a steady cash flow.
Fast and easy account setup:
With our efficient and direct onboarding process, we can have your shop funding ready within 1-5 business days.
Tailored to your business needs:
Choose from two different funding programs and always have the flexibility you need to be successful.