OnDeck. Rapid Advance. BlueVine. You can hardly turn on a television or radio or conduct an Internet search for factoring without these and other cash flow lending sites popping up. Alternative lending has become a highly publicized and, dare we say it, popular funding option for businesses to pursue. Great, you say. Why should I care? Over the last two months we covered a variety of situations that make a traditional factoring arrangement difficult, if not impossible, to close. Cash flow lenders can fund those deals that factoring companies are unable or unwilling to touch, adding another arrow to your quiver of resources to benefit your prospects. Alternative lenders can work with nearly any deal, including small medical deals; … [Read more...]
Small Business Financing: Where To Go When Banks Say No?
Lending to small business was down a whopping 12.5 billion or 4.6% for the 7 months ending in November. That sobering news comes from the Treasury Department's tracking of the 22 largest banks receiving bailout money. Of course these stats are no surprise to business owners. Rebuffed by banks, they increasingly turn to factoring and purchase order financing for cash flow needs. The New York Times recently … [Read more...]
10 Benefits to Factoring Invoices and Accounts Receivable
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...]