Sooner or later, every business will need financing to grow. Most owners will try to qualify for venture capital or angel financing. Others will try to get a business loan or line of credit, since business loans are popular with business owners.
All these business financing tools work well, but they also have a very important trait in common. They are hard to get and out of reach for most owners.
There is an alternative way of financing your business growth. Financing that is easy to qualify for, quick to set up and very cost effective. Not only that, its financing that grows with your business. And most of the time, you wont get it from your local bank. This form of financing is called invoice factoring and you can get it from a factoring company.
Factoring is different than a bank loan and it works well if your biggest problem is that you cant wait the 30 to 60 days that commercial clients take to pay their invoices. Basically, invoice factoring cuts the payment time to two days.
Factoring is simple. The factoring company buys your invoices (at a small discount) and pays you for them immediately. Then, the factoring company waits to get paid by...
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