I Don't Have the Cash to Run My Business: Invoice Factoring to the Rescue
Every day, businesses are turned down by the once trusted bank system that used to feed our young, growing companies. It seems that a business has to have a perfect scorecard to get the golden bank loan that was once in every business’s toolbox. Today, a business must have an A+ balance sheet and income statement. And if you’ve only been in business for a year, then forget that bank loan. What does a business do nowadays to fund the growth and expansion of a cash-hungry busin
Invoice Factoring Basics
Everything you need to know about the basics of the factoring business A factoring company buys your invoices in exchange for a certain amount of money. This allows you to continue running your business. If you have to wait for your creditors to pay you, it could be 30, 60 or even 90 days before you see any cash. With invoice factoring--also called accounts receivable factoring--you get a percentage of the money immediately and the balance, minus a fee, when the customer pays
