BusinessWeek Factoring Article

Today, I found a really interesting article on factoring and the pros and cons or invoice factoring. The article was published earlier this month by BusinessWeek.

BusinessWeek is a great portal for small business owners and those in other business related industries. You can view the full article at : businessweek.com/smallbiz/content/oct2008/sb2008103_176420.htm – they cover what factoring is and a scenario under which one might need to access funding through factoring. They also give some resources for finding a factoring company in the US.

Check it out – it’s worth a quick read. There are other articles like this located on the invoice factoring directory.  Such as : Invoice Factoring: Who is it For? This article explains when you might need it and under what conditions. They also explain that there are certain companies who should not use factoring. Of course, most factoring companies will just give you the money you ask for and not steer you on another path because they don’t work for your best interest. So be careful and be informed.

According to a new report out today I noticed on marketwatch.com – our economy shrunk by .3% which signals a recession. If you are in a cash crunch – you should consider factoring. It can help you meet your payroll obligations and weather this storm of financial uncertainty.  If you’re not familiar with factoring you could try it out on a small invoice to get familiar with the company and the routine. Start with someone local who you can sit down and discuss your options with. Usually, those that are involved in factoring can also help with some other business finance issues you may have. Give it a whirl and see how it goes. If it doesn’t work – you’re not out much and you learned what it’s all about.

Whether you are looking for services for Washington Factoring or Virginia Factoring – the directory can help you find the right company.

Credit Markets and Running Your Business

Is your business being affected by the credit crunch? We want to hear the comments of business owners to see how many different ways this is affecting various businesses.

It’s been an interesting month or two and we’ve seen another big bank get combined with another in Wachovia.  There is a battle to see who they get hooked up with – Wells Fargo or Citi.  This shouldn’t affect depositors, but it certainly doesn’t help people keep at ease.

We have been getting calls from a wide variety of business owners who are experiencing cash-flow problems. A lot of contractors use factoring services to keep their business going and with the recent housing bust – they are hurting.   Another sector of the market where we do a lot of business is trucking and freight factoring.  However, we expect them to be ok with the oil prices dropping. If there is a country-wide recession – this may have a huge effect on them. We’ll see…

We primarily work in the southwest areas so we’re limited to hearing business owners in that area. Are you having problems with your line of credit at the bank being frozen or having trouble getting a real estate loan? Having trouble getting approved for your low apr credit card? We want to help you. There might be a reader that has an idea for a solution that has worked in their industry or region. 

Send us your thoughts and we’ll see how we can help or work together.