How 3 Entrepreneurs Grew Their Businesses with Fast Cash Flow
The business owners we talk to day-to-day work in different industries, offer different products, and face different challenges. What do they have in common? A couple things. The first is the dream to grow their businesses. The second is a lack of cash that slows down that growth.
That’s one reason we enjoy our work so much. With invoice funding, B2B business owners get cash for their receivables in a few days, rather than a few months (or 30 to 90 days to be specific). Because their customer pays the invoice total to the factoring company, business owners get cash without debt, equity, or the obligation of a bank loan. Fast cash flow enables them to easily make payroll and other operating expenses while taking on large contracts and more customers. In other words, accelerating cash flow accelerates growth.
But don’t take our word for it. Recently, Intuit QuickBooks recently caught up with a few of our shared customers to talk about how boosting their cash flow boosted their ability to grow and achieve their goals. Hear them tell their stories in their own words in the videos below. You might just recognize yourself in some of the cash flow challenges they faced and how they’ve overcome them.
Entrepreneur Story #1: Nurses at Heart Spreads the Love with More Contracts
Meet LeQuitha Simmons, registered nurse and CEO-owner of nurse staffing agency Nurses at Heart. As demand for nursing staff ramped up during the pandemic, and with one facility six to eight months behind on payments, she knew she needed fast cash flow. LeQuitha unlocked the ability to make hires and take on all the clients and contracts she wanted by unlocking cash stuck in unpaid invoices – all with minimal admin work because of FundThrough’s integration with QuickBooks Online. Watch her story.
Entrepreneur Story #2: Bow Valley BBQ Discovers Their Secret Ingredients for Success
Jamie Ayles tells the story of how Bow Valley BBQ, Inc. has rapidly grown and shares an exciting accomplishment: their high-quality sauces and condiments are now listed with major retailers. With the need to maintain the current business and invest in R&D for new products, cash flow has been a constant challenge along the way. Data and fast cash flow became their secret sauce in their recipe for success. Watch his story.
Entrepreneur Story #3: 5Fort Contractors Builds Business Without Delays
Long payment terms and a lack of funding are common in the construction industry. No one knows that better than Dax Castro, CEO of 5Fort Contractors. If he had to rely on the bank, the wait for funding would’ve made him go bankrupt. Faster cash flow means he can pay his crews quickly, continue daily operations with peace of mind, and take on new jobs for custom home construction. Watch his story.