This content has been marked as final. Show 3 replies
Go to Google and you will find companies that could help you out.
Hi, our company is elite business financing & we provide financing for accounts receivable & factoring, sale & lease back programs, & also cash advances through your business credit card transactions if you accept cc's as payment. We'd love to help you. If interested & for more detailed info, please check out our website & fill in your contact info & we'll get in touch w/ you immediately! www.elitebusinessfinancial.com
Ok, you have one offer and an explanation regarding your question 'To factor or not to factor?'
Remember, one can negotiate factored percentages, what will that do? will make you money! Be aware some companies have an account minimum per month or your costs will be higher. There is a cost your going to be incurring over the period you factor. You should know your costs, understand the risk associated with a non-performing receivable, who will pay that outstanding sum? There are some companies out there which provide attorney services for non-performing balances, inquire about that service. Always read the small print, as a rule of thumb I always read the small print first. The equipment you mentioned, is that depreciated value? Any money owed on the equipment?
Have you looked into the Small Business Administration loan programs for 100,000 or less? You can use a longer term loan and expand your business continually through the SBA.
A little about me, I managed a small transportation company with revenues of 5.5MM annually. A percentage of the receivables we factored for ubiquitous reasons. One must always manage his financial priorities, this situation and thought to expansion is good but always weigh your options and keep a business continuity plan handy.