Factoring Accounts Receivables
“FACTORING” is selling the interest in your accounts receivables or invoices to a factoring company at a small discount. It is often referred to as “Accounts Receivable Financing”. Factoring provides over 100 billion dollars to industries each year. It is available to even smaller sized businesses to which banks are often reluctant to lend funds.
When you offer terms to your customers and then they slow pay your invoices, you are being held hostage by your customers. Invoice discounting is a way to break free of this vicious cycle. Why spend all that time and effort trying to collect your receivables? Factoring companies screen your debtors to ensure that they are credit worthy and are going to pay and also handles the collections for you. It’s like having an accounts receivable department without the headaches.
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