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A Day In The Life Of A Factoring Broker

Factoring Broker:

Recently I had a manager of a business contact me who was in the market for a Factoring Loan. I am a Factoring Broker and it has been a year or two since I had heard it called that, but what he was wanted to know about was Accounts Receivable Factoring.

Factoring Broker

I did not want to discuss terminology about the Factoring Definition, but it would state that this type of business funding is not a Loan, as far as many consider it. From a Factoring Broker perspective it is true the monetary expressions can be questioned but the way most see it, Accounts Receivable Funding is a business accepting an advance on the money they shall inevitably collect in the short term and it will be a 3rd party that is making payment for the Receivable so if anything the client who received the goods that is paying the funds to pay the generator statement.

For this example, the business that created the bill has confirmed the money is paid by the recipient of the statement and the Factor simply temporarily covers the debt to bridge the gap.

On the internet you will encounter lots of terms for AR Factoring for example Invoice Factoring, Factoring Accounts Receivable, Factor Financing, and so on.

As a Factoring Broker, I find it very impressive that the US Government Factored the Receivables of the Big 3 from the manufacturing suppliers in Michigan. Doing this instilled much faith for President Obama to begin the process of repairing the damage in the Auto Industry. Demonstrating to the other manufactures that AR Factoring is a required funding method for our expansion which reinforces that Cashflow is King.

Industrial service providers of United States and Canada have been destroyed by the fiscal decline we are on the road to recovery from and all kinds of businesses have fallen due to the lack of Working Capital to pay suppliers, payroll and other operations expenses that businesses must cover in spite of if there are inflows on their Invoices or not.  A Factoring Broker has access to the best funders for your company’s needs as there are no “one size fits all” solutions.

The scene has been extremely devastating to see the quantity of businesses that have fallen over the latest years due to the many economic issues we have been facing.

You can call it a AR Factoring, Invoice Factoring, or any other term you prefer. It is a process to aid with your Cashflow.

Do yourself a favor and reach out to a Commercial Factoring Broker to assist with your Business Financing requirements as they have the necessary knowledge of where to go with your Funding request to assure you of the deal you need in the shortest time.

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