Invoice factoring is essentially a financial transaction where a company/business sells its accounts receivables (or invoices) at a discount to another company. This other company is then responsible for collecting on that invoice from the third party.
- Different factoring loans you can consider
- Why you should consider factoring your invoices or accounts receivable
Your personal credit is the best benchmark a financial institution has when deciding how much of a risk your loan would be. Make sure to pay off old debts and get your FICA score up in order to not only secure the loan, but also to get the best rate as well.
- Questions to Ask Yourself Before Applying
In today’s economy, it is almost essential to have at least one business credit card. Such credit cards are offered by a variety of financial sources, and can offer perks or rewards that can benefit your business in addition to establishing a solid credit history which can help you receive any necessary funding in the future. Business credit cards offer a variety of options, so finding one that best suits your business’ needs can be very beneficial.