Recourse Factoring vs Non-Recourse Factoring
Factoring, or accounts receivable financing is an alternative to traditional business loans. Businesses owners with cash flow challenges often turn to factor to solve this problem. Factoring their invoices enables the owner to purchase inventory, make payroll and cover administrative costs while waiting for their customers to pay.
The factoring company buys the owners invoices funding a large percentage of the total invoice to the business within 24 hours. Upon payment of the invoice by the customer, the business receives the balance, called a reserve, less agreed upon fees. Read More “Recourse vs Non-Recourse Factoring”
5 Startup Tips for Entrepreneurs
Your first few years in business will likely feel like on-the-job training as you face a host of unexpected events. That being said, having the basics covered from the beginning will help you navigate the often turbulent waters every entrepreneur faces. Here are some tips to help make the sailing a little smoother.
Startup Tip 1: Don’t Let Excuses Stand in Your Way
You can likely come up with countless reasons not to start your own business. What if the economy tanks? What if demand for my product or service suddenly drops? What if I don’t have the knowledge and skills needed to make a go of it? The list goes on and on. Read More “5 Startup Tips for Entrepreneurs”