The factoring industry is unique. If we had to write a mission statement for what we do it would read something like – “To provide cash flow to businesses to sustain and expand their operations”. The cash flow that factoring companies provide is through the purchase of clients receivables at a discount which allows the client to utilize the capital for expansion, take advantage of vendor discounts or any other reason they may have to keep their business an on-going concern. Over the past several years many new factors have entered into the asset based industry, as traditional lenders constricted credit to new and existing businesses. The aftershocks of the great recession had a rippling effect that was felt from Wall Street all the … [Read more...]
Is Invoice Factoring Right for All Businesses?
So many authors, including myself, have written about the benefits of invoice factoring explaining how we help businesses in need of working capital. Just type something like, “benefits of invoice factoring” into your favorite search engine and you will find pages of articles telling you how factoring works and why it is the best solution for your business. As the owner of a factoring company I can definitely say that factoring is an extremely useful tool to help businesses grow by unlocking cash in the form of an account receivable. But is factoring a one fit all tool for all businesses to achieve growth? As a featured speaker and panelist at small business workshops over the last several years, I’m fortunate to be given the … [Read more...]
A Factoring Thank You For 2012
What makes the factoring business enjoyable? Don D'Ambrosio shares his answer in this year end thank you. Wow, time flies and we are looking at closing out another year. Many articles this time of year tend to focus on reflection, comparing estimates to actual results and anticipating the New Year. This year I would like to take a slightly different approach. … [Read more...]
The Factoring Business Notice of Assignment – Never Fund Without It
Real life scenario explains why factoring companies require a Notice of Assignment to fund business invoices in this article from Oxygen Funding. A few years ago we had a factoring business prospect referred to us from a broker that was affiliated with our company. The prospect was engaged in the business of logistics, working with several well known automotive companies. His business was growing and he needed cash flow to hire additional employees and take on more jobs. … [Read more...]