Factoring History
Factoring: an essential, yet often unnoticed, financial tool in American business. It’s a must-know for business owners and entrepreneurs seeking financial acumen.
Despite its significant role in business finance, factoring is seldom highlighted in academic or business planning discussions. However, it’s crucial in mobilizing billions of dollars, facilitating business growth.
Factoring involves the purchase of invoices at a discount, a practice deeply rooted in history and essential for businesses extending credit terms. It originated in ancient Mesopotamia and has been a fundamental financial strategy since then.
Throughout history, factoring has offered a more efficient financial alternative to conventional banking. From the ancient Roman Empire to American colonial traders, it has been a key to financial agility.
Today, factoring is a versatile and vital financial strategy, especially during times of high interest rates and restrictive banking regulations. It enables businesses of various scales to convert receivables into growth capital, ensuring financial health and expansion.
We relieve your headaches and stress of collecting on accounts receivables.
You have 24/7 account access 365 days a year.
When you call, you get to speak to a real live person.
Don't wait long periods for a loan. Many of our factoring deals can take place in as little as 24 to 48 hours. If you need capital right now or are looking to expand then factoring is the way to go. We work on your time instead of you working on a bank's schedule.
If you need cash and you're sitting on a lot of unpaid invoices then factoring with us is the way to go. We'll give you the cash that your business needs and collect from your customers.
Debt is risky while at the same time being beneficial to growing a business. Start-ups can relieve themselves of the risk of debt and still create capital with factoring.
If you're a start-up or your business has a poor history or credit then you can still get the cash that you need. Today's banking atmosphere makes it a challenge for even the most-qualified businesses to get a loan. Factoring takes care of all of that.
Without a collections department or a small staff, collections often come down to you doing all of the leg work. Our Factoring Service will alleviate that burden and provide the service that you're not equipped to handle.