Factoring Account Receivables: Keeping the Business Alive

If you want to know more about business tales, I have a lot. Most of them are fun while others are somehow frustrating, especially if you know how the business world goes. While there are days where you can see the cash flow in a lot, you will also experience days where you are impatiently waiting for them to come to your door. I experience it now and then if not often. It is okay if I have some extra cash from the previous months, but if I have nothing, I have to find ways on how to continue my business. Without money to give to my suppliers, I will not also be able to provide my customers with what they need and that would mean no money for me. One of the solutions I always use is factoring account receivables. I find it reliable than the conventional loaning method. In this financial solution, you are not borrowing money from another entity. Instead, you sell your account receivables to a group like the Interface Financial Group who then pays you so you can get instant cash. It is close to saying that you are only getting the money you should be receiving in a much earlier date. It usually works for me since I am not the type to apply for a loan and suffer the interest rates. Banks would not grant a loan as fast as a factor would. Yes, there are other types of loans that allow you to get the money fast, but the interest rates are unimaginable. I would always recommend factoring to other businesses.

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30 November 2012 | Media Arts Entertainment