Invoice Factoring Blog

Link: http://www.ifgnetwork.com

This year, if you are rushing to file your taxes so you can get your hands on the refund cash quickly, then there are some things you will want to know first, and a better alternative. You may have seen ads for what some tax preparation folks offer called “instant” tax refunds. This is basically a loan, sometimes called an anticipation loan, that provides cash within 24 to 48 hours. Refund anticipation loans can be costly, so be aware!

As we all know, it can take a few weeks, and sometimes months, for the IRS to issue a check or send your direct deposit after you file your taxes. A tax refund anticipation loan is a way for people to get their tax refund without having to wait. It is a short-term loan usually issued by a bank. It is secured by the tax refund. As with all loans, interest and fees apply. But here’s the warning! These fees are automatically deducted from the loan amount – but the terms may not be what you are familiar with, so in some cases, once you calculate the fees on this type of loan, it may be the equivalent of over 200% APR, which is in the small print.

If you are in a pinch for case, it would be best to wait on your IRS refund, and instead use your accounts receivables for invoice factoring.IFG Network provides invoice factoring, specifically single invoice factoring, also known as accounts receivable financing, services to small B2B enterprises. If your company is in the process of fulfilling orders, or has accounts receivable invoices, you can receive funds tomorrow. IFG can advance up to 90 percent against invoices you are selling, and the professional fdees are more fair than most tax anticipation loans.

To find out more about how invoice factoring can grow your business, call IFG Toll Free: USA - 877-210-9748, Canada - 877-340-6893.