Two factoring industry veterans have expanded their invoice factoring services to other asset-based financing vehicles as they capitalize on the reduced number of funding source for small businesses. The pair has launched a new website at BusinessFactors.com.
This is just one more example of the ability of factoring companies to bring solutions to business that were either misunderstood or below the radar. As the big boys of the credit industry look to government to keep them afloat, the stalwart members of the receivables factoring industry keep plugging away by building awareness of the value of assets already owned and the advantages that these assets present. As a matter of fact, I’ll bet a lot of companies are gaining a whole new appreciation for the existence of “accounts receivables.” For the most part, these have been viewed as money owed rather than as assets due. Now those assets can be applied to keep a company afloat.
A whole new appreciation of what’s on the P&L isn’t it?
