Any company generating accounts receivable with creditworthy customers can take advantage of the cash flow benefits offered through factoring. In factoring, like any industry, there are certain clients that make up the greater share of business. … [Read more...]
Archives for April 2009
Factor Marketing – 5 Proven Referral Sources
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A factoring broker has excellent earning potential referring business to factoring companies for accounts receivable funding. But before there are commissions there must first be prospects, which all stems from active marketing. Successful factoring brokers continually turn to referral based marketing as a key component of an effective marketing plan. Consider these five proven performers when developing factoring referral business: … [Read more...]
Receivable Funding Benefits Small Business
CHICAGO (BUSINESS WIRE) -- Bibby Financial Services recently provided a $2 million credit facility to a produce company in Northern California. The company buys and sells strawberry plants to growers in California, Florida, and Mexico. In addition, Bibby Financial Services extended a $1 million credit facility to a transportation and logistics company with many fleets and locations throughout the western United States. The company plans to use the funds to meet payroll for independent contractors hired to execute deliveries and service local accounts. Nick Hart, CEO, Bibby Financial Services (CA), states, As we see traditional funding facilities continuing to tighten up on credit, it is important that businesses have the finance … [Read more...]
How to Identify a Good Factoring Prospect
Cash is always in demand so there's no shortage of companies that can benefit from the business funding factoring provides. The greater challenge is finding a business that is likely to receive funding from a factor. Ask these 4 questions to identify a good candidate for factoring accounts receivable: … [Read more...]
Working Capital During the Credit Crunch
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There's no secret banks are putting the squeeze on business lending and credit lines. In fact 55% of small to midsize businesses surveyed by the National Small Business Association reported difficulty in obtaining credit last year. And that was in early 2008 before the credit crunch really hit. So where can business owners turn for working capital as banks say no to business financing? Here are three places to consider during the 2009 credit crunch: … [Read more...]
What is Freight Bill Factoring?
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There are many businesses that outlay cash in advance of getting paid. One of the most cash flow strapped businesses is the trucking industry. Even though freight companies usually operate with significant profit margins, they have a substantial amount of cash outlay to deliver goods. Expenses include truck repairs, fuel, and even rentals; and no amount of profit helps when you are still waiting to get paid. … [Read more...]