One strategic way for small businesses to find and use cash to grow centers around a 4,000 year old tactic called factoring. This allows companies to move beyond reliance on loans, and borrowing money from credit cards to survive and grow. Invoice factoring or spot factoring, enables companies to get short-term working capital and improve cash flow and grow their businesses. Factoring makes business success more predictable.
Since most companies do not get paid immediately for delivered products or services, spot factoring benefits businesses that do not get paid for 30, 60 or 90 days by advancing up to 90 percent against the company's invoices. A factoring company like ACD Financial Services purchases selected invoices at a discount.
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Source: IFG Network
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