≡ Menu

Whenever I am asked that question, I think of the four possible reasons why they would ask:  either they are inexperienced, taking poor advice, have an awfully bad personal credit rating or they plan to commit fraud.  I know that my underwriter would also add “if they don’t believe in their business then why should [...]

I think a summary of my 12 blogs might be useful and will provide you with a place to access and share them all.  I will resume answering common factoring questions next week. Your own questions, comments and feedback would be greatly appreciated. I started to Blog in early April by introducing myself and my [...]

Whenever I am asked for an example I think about all the different industries and situations we have been involved in.  As well, not every relationship worked out successfully.  We put cash into people’s hands, but we cannot tell them how to spend it. Here are four of the most interesting deals that come to [...]

I like this question because I know that the caller is motivated, their current source of funding is inadequate, and they already feel the pain and realize the costs of suffering from cash flow problems.  I try to keep in mind that their lack of planning does not mean it is an emergency on my [...]

A lot of business owners already factor and they don’t even know it.  Every time they accept a credit payment or any time they offer an early pay discount to a customer they are actually factoring.  Some of them would be very happy to have all their customers pay within discount terms all the time; [...]

Teamwork

Banks and factors make good working partners because neither can provide what the other can offer, and both want their clients to succeed and grow.  Every business is different and has its own challenges but when banks and factors work together, they provide both the flexibility and control that will be needed over the next [...]

Since the pandemic started I’ve been getting calls to finance huge Purchase Orders (PO’s) for PPE’s.  They want us to take on a huge financial risk, so they earn big profits.  I always explain the facts and outline what it takes and that is when the conversation usually ends. Purchase Order Financing does exist, but [...]

It was a good question before the pandemic and an even better one now.  Credit is tighter; most FinTech lenders are out of business and what money is available is only there for the bigger and better businesses.  Start-ups, rapid growth and turnaround businesses who need a quick solution will find that factoring is their [...]

It’s my favorite question and one that I have answered a thousand times.  I just hate to think about the business owners who didn’t ask me the question.  Did they end up going out of business, or did they lose control to a FinTech lender, an investor, shareholder, or partner?  At least if they had [...]

The future is unpredictable as we have all just learned.  Trying to predict the cashflow for a business starts with making a bunch of assumptions.  Many times, I have heard business owners say, “I know I’ll get paid but it’s when that I’m worried about”.   A business that Factors never has to say that. When [...]