Do your circumstances require you to look beyond traditional bank financing for the necessary funds to operate or expand your business. You may have signed a large contract with a customer or received larger orders and need immediate cash to deliver your product. However, you may not have been operating long enough, or have enough collateral, to qualify for a bank loan or credit line, or you have outgrown your current facility and are not able to get more.
An alternative source of financing, such as factoring also known as accounts receivable financing, may be your solution.
In factoring, your invoices serve as collateral. This is an option for businesses that receive large contracts that stretch their cash flow resources to the limit, companies with extensive payrolls or up-front costs, or those experiencing a surge of growth. An advantage of factoring your invoices is that it allows you to supplement your basic financing to avoid difficulties meeting the cost associated with your commitments to customers.
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