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3 Invoice Factoring Services You Should Know

3 Invoice Factoring Services You Should Know

Invoice factoring is one of the solutions for short term issues in cash flow. Suppose you need cash right away, but customers can’t pay for services or goods until later; this is where invoice factoring, along with invoice financing, can convert your unpaid invoices into faster cash. But don’t consider invoice factoring as loan. It is a process in which you sell your invoices at a discount to any invoice factoring company; in exchange, the company will give you lump sum cash.

In turn, now the factoring company owns your invoices, and they get paid when they collect from your customer, who has a stipulated time period of 30 to 90 days. The discount rate can vary from 1-5%, depending on invoice amount. The pros in this case are easy approval, fast cash, and improved cash flow. However, it is also costly, you lose direct control, and a customer’s bad credits can derail your finances.

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Here are three resources that can help you with your invoice factoring.

1. FactoringClub

FactoringClub is a web directory service that provides you with in depth information about invoice factoring companies, such as locations, descriptions, credit facilities, terms, services, industries served, contact information, features, and more. Any business owner looking for accounts receivable financing will find the right invoice factoring company to cater their needs on the FactoringClub site. It can help you find a company based on location, name, keywords, and industry.

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Finding the right factoring company for your business requires common sense and research. You can find companies with specialties in accounts receivable financing, commercial finance, purchase order financing, invoice factoring, equipment financing, and asset based lending.

FactoringClub helps you save time and stress. People tend to rely on reviews to find realistic insights of companies, but reviews may not always be true; FactoringClub gives you the option to talk their reputable factoring brokers, who can provide you with an unbiased opinion about any factoring company listed on FactoringClub, or they can recommend you a factoring company based on your needs.

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After providing the details of your business, you can compare the cost of different factoring companies, which will determine a cost based on how much you intend to spend per month, expected average invoices, days outstanding, and customer credit.

2. American Receivable

American Receivable provides an excellent invoice factoring service with strong support, no extra fees, and good rates. It has solid eligibility requirements and customer support systems, and offers stellar features, non-recourse factoring, and no commitment minimums, which makes it great for business. You will have a dedicated account manager, who will have complete knowledge about your account and information required for processing.

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American Receivable offers flexible factoring services for both short and long term business. They have made it easy for small businesses with credit ratings to qualify for factoring, in spite of rigid requirements. They focus on your customers’ creditworthiness, but not your business’s credit history or revenues, and they offer generous factoring terms that will help business with cash flow. They do not limit the number of invoices you can submit, and you can submit an application online, or through fax. The recovery days are up to 120 days.

3. Riviera Finance

Riviera Finance is an invoice factoring service that offers competitive rates, fast turnaround time, and various services, such as non-recourse factoring. They will buy any invoice, regardless of how overdue it is. You can start with Riviera Finance by filling out a form, or online submission. For small or medium sized businesses, they offer great security, which means they have freedom to explore new opportunities and expand.

They specialize in small business financing, invoice factoring services, business cash flow solutions, and accounts receivable management. They offer 24-hour guaranteed funding, skilled employees, application interfaces, and the highest cash advances in the industry; accounts are available online 24/7, no set up fees are required, and no long term contracts are mandatory. The only drawback is you have to pay a termination fee if you choose to stop factoring with them.

So try out any of these services to ease your cash flow and have improved business transactions.

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Abhay Jeet Mishra

Writer at Lifehack & Enterested.com

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Last Updated on January 13, 2020

11 Brain Training Apps to Train Your Mind and Improve Memory

11 Brain Training Apps to Train Your Mind and Improve Memory

Whether at work or at school, people these days are under tremendous pressure to perform, perform and perform! Stress and pressure can have adverse affects on the well-being of a person, and need to be controlled.

Now, this doesn’t mean you make a dash to your nearest therapist. There are a number of wonderful and smart apps that you can use on your phone. These brain training apps have been scientifically designed to target specific areas of the human mind and control harmful emotions such as anxiety, as well as to improve memory and sharpness of the brain.

Here are 11 iPhone apps that you will not only enjoy but also find useful in keeping your mental health balanced at all times.

1. Lumosity

This app consists of games that focus on improving the user’s memory, problem-solving capability, attention span, and thinking. There are three games in each session, and they challenge the brain by changing every time. The user has to complete the games while playing against a clock.

Free of trial. $15 per month for the full version.

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Luminosity Mind training apps-Lifehack

    2. Fit Brains Trainer

    This brain training app has 10 sets of games that work on different areas of the brain and improve memory as well as concentration. A user is required to finish a particular task from each category on a daily basis and the app tracks the progress by a color coded graph.

    Free.

    Fit Brains Trainer Mind training apps-Lifehack

      3. CogniFit Brain Fitness

      Developed with the help of neuroscientists, this fun app improves a person’s cognitive abilities, which includes memory and concentration. The progress made by the user over a period of time can be tracked. Users can also play challenge rounds with their friends. The app also modifies the difficulty level to suit the profile of the user and provide recommendations based on the results. Spending 20–30 minutes a few times every week can give measurable improvement in the performance of a user.

      First four games free, then $13 a month.

      cognifit-Mind Training Apps-Lifehack

        4. Brain Fitness Pro

        The makers of this app claim that it can improve the IQ of a user, and improve intelligence and memory. The app is fun and is user friendly, and 30 minutes a day can fetch you results in less than three weeks.

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        Buy for $3.99.

        5. Happify

        If nothing else makes you happy in life, this app will. Well, this is what the developers claim at least. This app comes loaded with lots of quizzes, polls and gratitude journals, which work on the fundamentals of positive psychology. The app also helps to control stress and emotions to make you feel better.

        Free to use.

        Happify-Mind Training Apps-Lifehack

          6. Clockwork Brain

          You will like the little gold robot that comes in every time to explain the next game you are going to play. While the games are not much different to those offered in apps such as Luminosity, the look and feel reminds me of a workshop from old times.

          Free.

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          Clockwork Trsin-Mind Training Apps-Lifehack

            7. ReliefLink

            Initially created as an app for suicide prevention, it has found its use as a great app for tracking the mood of the user by taking measure of all things relevant to the user’s mental health. In case the user experiences high emotional stress, the app has a coping mechanism that includes voice-recorded mindfulness, exercises and music for relaxation. There is also a map that informs the user of the nearest therapist and medical facilities for mental health treatment.

            Relief Link - Mind Training Apps - Lifehack

              8. Eidetic

              Eidetic is a memory enhancement app and uses a ‘spaced repetition’ technique to help users memorize information such as important phone numbers, words, credit card details or passwords. It also notifies you when it’s time to take a test to see what you remember, so that you retain information in your long-term memory.

              Eidetic - Mind Training Apps - Lifehack

                9. Braingle

                Braingle helps to maintain the sharpness of the brain and improve the reasoning ability of a person through riddles and optical illusions. It is different from other brain training apps that employ memory and reaction based tests. You can also compete with your friends and family members in figuring out the fun riddles.

                Free.

                Briangle- Mind Training Apps-LIfehack

                  10. Not The Hole Story

                  If you have a penchant for solving hard riddles, then this app is a must-have for you. Filled with exclusive riddles along with a simple-to-use interface, the app gives you riddles that you have to solve through a book. You will be given hints along the way, and when you give up, the answers will be revealed. This app will encourage you to broaden your thinking and put your mind to a challenging test.

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                  Free.

                  Not the hole story - Mind Training Apps - Lifehack

                    11. Personal Zen

                    This fun brain training app follows the journey of two animated characters who travel through a field of grass. Personal Zen is a nice app meant for reducing anxiety and trains the brain to focus on the positive aspects. The developer’s advice is to use the app for 10 minutes a day to see the best results.

                    Free.

                    personal zen- mind training apps - lifehack

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                      Featured photo credit: NeONBRAND via unsplash.com

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