What is Spot Factoring? A Guide to This Clever Work-Around for Invoice Payments

Spot factoring is a business transaction approach that revolves around small business financing. A small business receives payment for their open invoices. The payment covers the invoice, and the invoice is “sold” to a third party spot factoring provider. The third party then receives the payment for the invoice when it comes through.

It is not unlike debt sales. A company has their debt invoices. Instead of dealing with them directly and having them recorded in their books, they sell it. The debt buyers are now free to chase down payments as they see fit, relinquishing the responsibilities from the original lenders. The third party will assume 100% responsibility for the invoice, which frees up their time and their finances for other tasks.

How does this benefit the invoice holder?

The original invoice holder has the lovely perk of being able to get money now for an invoice, as opposed to waiting to maturity. Some may argue that the payment is the same regardless. Why go through the extra steps? In the case of spot factoring, the original invoice holder can actually implement the funds from the invoice to other sources. They can act faster and with more income. Why would they have to wait if they can get paid now? The company can act faster with extra active capital.

Where can the money go from paid invoices?

The amount paid for invoices is liquid cash. It can be used for any purpose. To clarify, it is not tied to specific business tasks or in some kind of escrow-oriented account. It is free to be used in any way for the original invoice holders. They can then develop on new projects, build new machinery, increase payroll, and do as they desire.

Imagine having all open invoices paid for. This kind of arrangement is known as spot factoring, and it is directly injecting new resources to companies of small to moderate sizes. Spot factoring is the boost many companies need to stay at the edge of the competition. without these third party payments for invoices, companies are restricted by the payment of customers directly.…

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Exploring Reasons To Purchase Physician Disability Insurance

Medical professionals require insurance coverage to protect them against sudden and unexpected accidents that lead to disabilities. The right policy offers extraordinary benefits that cover their expenses and won’t leave them facing a financial hardship. A local insurer provides Physician Disability Insurance for all medical professionals at each stage of their career.

A Loss of Income

The policies prevent the medical professional from facing a loss of income when they sustain a long-term injury, disability, or occupational illness. They offer benefits payments based on their status in their career or medical program that range between $1,000 and $15,000 per month. The medical professional can use these benefits for their monthly living expenses, tuition, medical costs, or anything that they need.

Medical School Loans

Medical professionals that become completely disabled and can no longer work in their preferred specialty receive payments to cover their medical school loans. These payments range up to $200,000 and are available for medical professionals who qualify for disability insurance policies. They must have a valid medical license and face no chance of recovering from their disability and returning to their medical career.

Medical Treatment and Costs

The disability insurance provides coverage for their medical treatment and costs related to their disability or illness. These funds can prevent the medical doctor from facing a financial hardship due to excessive costs. They can also prevent the doctor from failing to acquire adequate treatment due to a lack of coverage or funds to pay these costs.

Long-Term Care Requirements

Any medical professional who sustains a long-term injury, illness, or disability that requires long-term care receive benefits to cover these costs. The services include admission into a nursing home or long-term care facility for treatment. The coverage is available according to the disability insurance program in which the medical professional participates.

Medical professionals who need insurance coverage in the event of a long-term condition or disability can purchase disability insurance. The policies provide special benefits for physicians at all stages of their medical career starting with medical school. Medical professionals who want to start a policy today can contact an insurer today and enroll now. …

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