The winds of change are a blowing. As of the writing of this article, the Republican Party will have a majority in both the House and Senate as the country moves into the New Year. No matter which side of the political spectrum you reside, the overall approval rating of Congress was an abysmal 14% prior to the November elections which tells us they can’t do much worse in the eyes of their constituents. Will the new Congress once again try to repeal Obamacare? Will we finally see some meaningful legislation on immigration, tax reform, and fair trade deals with Europe and Asia? Only time will tell, but doing nothing surely is not a recipe for success. As for global events, the Middle East unrest continues. The situation in Syria is … [Read more...]
Should Your Factoring Company Also Offer Purchase Order Financing?
Recently, I have been writing articles about brokers who want to start factoring companies. As I have mentioned previously, the factoring field is very competitive, so you have to be highly selective when you choose your market niche. Some new factoring companies have taken this strategy a step further and differentiate themselves by adding niche products such as purchase order (PO) financing. This article discusses whether this is a good strategy. A brief purchase order financing tutorial Basically, purchase order financing helps companies that have a purchase order and need funding to fulfill it. In principle, the product sounds great. However, it has a number of restrictions. Specifically, it can be used only for transactions … [Read more...]