By Lou Wallace
Start up businesses as well as expanding businesses need working capital. Even established companies occasionally need a source of quick capital. The easiest and quickest way for a company to get this needed working capital is to factor it receivables. Read the rest of this entry »
By Lou Wallace
There seems to be a lot of confusion in the financial arena about factoring. While factoring is the oldest form of financing for a business most people including some financial experts have formed the wrong opinion of factoring.
I have had recent discussion with financial advisors and accountants who feel referring their clients to a factor or asset based lender will reflect poorly on them as professionals. While they know their clients need assistance they believe that factors or asset based lenders are not as reputable as Banks. They also feel that factors and asset based lenders are the lenders of last resort or only for companies that are on the verge of failing. I am not sure who started this ridiculous theory but I have to believe it was probably some Banker who wanted business owners to believe that if they couldn’t borrow from a Bank then there was something seriously wrong with a persons company. Read the rest of this entry »
By Lou Wallace
The financial markets have not dried up; the banks are just clogged. Perseverance and creativity is a quality within every entrepreneur. Business finance is readily available to those who look beyond the bank to asset based lenders.
Before there were business credit cards or home equity lines to borrow against there was Factoring. Popularized originally in the garment, furniture and floor covering industries this form of financing has evolved to be an ideal form of financing for new or growing businesses. Cash flow factoring is the perfect solution to cash strapped companies. Read the rest of this entry »