The History of Factoring

The History Of Factoring

The need for financing to facilitate commerce created factoring.  First found in the Mesopotamian culture, the laws of factoring are lined out the Code of Hammurabi.  Factoring was instrumental to international commerce in England in the 1400’s and was essential to financing the growing North American colonies.  Even the famous trip the pilgrims took on the Mayflower was paid for by factoring.

By the twentieth century factoring in the United States was instrumental to providing working capital to the booming textile industry.  As long as businesses have a need for additional working capital, entrepreneurs will turn to invoice factoring to finance their success.

When American Receivable opened its doors in 1978 transactions were hand posted on ledger cards and accounting paper.  Technology has brought a lot of changes, what has not changed is our commitment to provide the working capital our clients need to grow and succeed. We are a Top-Rated Factoring company with a 5 star Google review.  Call us today to learn how the team at American Receivable can put you on the fast track to success!

Schedule a time to chat:   https://americanreceivable.com/schedule-an-appointment /

Voted best Invoice Factoring Company for SMBs for 2022 by Business.com

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