If you answer “yes” to many of these questions, factoring could be for you.
- Do you have invoices, purchase orders or contracts?
- Are you providing goods or services to other businesses, government agencies?
- Do you have at least one strong, credit-worthy customer?
- Would immediate payment of your invoice allow you to bid on bigger jobs, take on more work, or grow?
- Would faster payment help you cover payroll and other operational expenses?
- Having trouble getting a loan or line of credit?
- Are you “managing your mailbox” and not your business?
- Would additional working capital allow your business to grow?