If you are considering factoring your receivables, you are probably already aware of its benefits. But other things are essential to know before you sign on the bottom line with a factoring firm. The most important is this: not every factoring firm is the same! Not only does every company have its own procedures and requirements, but some also have more experience in certain industries and factoring methods than others. Here is a list of questions you should ask before signing a factoring contract. 1. How many years has the company been in business? Over the years the factoring industry has grown considerably as more and more people realize factoring is an excellent method for increasing cash flow. However, with the increase in … [Read more...]
10 Benefits to Factoring Invoices and Accounts Receivable
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Every business has cash flow needs but options are dwindling in the face of a recession. Fortunately savvy business owners know they can still raise cash when banks say no to business financing. It is helpful to understand why more businesses are benefiting from factoring their invoices and account receivables in 2009. … [Read more...]