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Factoring

About Factoring

Description
Factoring is a method of financing in which you sell your Accounts Receivable at a discount to another company. The factoring company advances money to you and is, then responsible for collections.

There are two primary types of factoring, recourse and non-recourse. Recourse is when the client absorbs the risk of non-payment by the buyer. In the event of buyer default, the factors client is responsible for repayment. Non-recourse factoring is
when the factor takes the credit risk of the buyer. If the buyer becomes insolvent after the receivables are purchased, the factor absorbs the loss, not the client.

What Is Needed
In most cases your company should have revenues from $1 million to $200 million and a commercial accounts receivable. Your Company can not have any judgments and liens against it. If you have the desire to have cash flow when you need it and do not want to rely on payments from your clients in order to meet your business needs, factoring may be right for your needs.

Who Should Apply

  • Companies Needing Immediate Access to Cash
  • High Growth and Undercapitalized Companies
  • Companies with Turnaround Situations
  • Seasonal Businesses

Business Credit and Financing Articles

The Credit Process: A Guide For Small Business Owners

A Business Plan: The Roadmap To Success

Types of Business Loans

Business Debt Restructuring

 


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