Get Fast Cash With Factoring — NO Loans, No Debt
Every day, companies use invoice factoringÂ — selling unpaid invoices to a third party at a discounted rate — to provide funds to run and expand their businesses.
It is one of the oldest forms of financing in the world, and dates back hundreds of years.Â Major retailers use it every day. A Commercial Finance Association Survey found that asset-based loans totaled $600 billion in 2008, a figure that has grown since the 1970s.
But many people still don’t know about invoice factoring, how to use it, or how it can benefit their business.Â
Invoice factoring is more common than you might think. Although it is thought of as “alternative financing,” it is used by many types of businesses, including service industries, retailers and health care companies.
There are many reasons businesses use invoice factoring:
*Get working capital
*Relieve stress from no-pay and slow-pay clients
*Fill more orders
*Increase sales with flexible funding
*Take advantage of vendor discounts
*Fund payroll and taxes
*Extend credit to customers on large orders
*Buy equipment or inventory on demand
I can’t think of anything that allows you to finance yourÂ business with no debt, no loans or no credit applications.If you need fund to expand your business, invoice factoring is a viable solution.