If you own a small business, you know how hard it can be to secure funding from banks and traditional lenders – and even though the economy is showing hints of improvements, small business loans are still almost impossible to get. So what do you do if your business needs extra financing but can’t get it through traditional means?
Factoring is a little-known secret in the business world that can make the difference between just scraping by and actually having the funds to help your business grow. Factoring isn’t lending – it’s actually the purchase of anticipated accounts receivable by a factoring company, providing advance funding for businesses facing delays.
Liquid Capital is a Canada-based company that specializes in factoring for small and medium businesses. Co-founder Sol Roter published a guest blog on Business News Daily discussing the potential benefits of factoring for businesses of all kinds.
You can read the article here.