Which Receivable Factoring options are available for Women-Owned Business? The article describes steps women entrepreneurs can take to get the funding they need.
Factoring companies base Accounts Receivable Financing or Receivable Factoring on a few variables.
Women entrepreneurs should keep these in mind:
- Client’s Credit Worthiness
Factors base the Invoice factoring on your client’s credit score or business balance sheet and not yours. Also, a good receivables factoring company will become your de facto credit department. Remember, there is only one thing worse than no sales, which is selling it and not receiving any payment. Your receivables factoring can pre-approve all your potential clients.
- You Own your Invoices “Free & Clear”
Many of our potential clients do a great job of selling and have a growing business. They reach out to us and then realize that their too small and inadequate line of credit from the bank has their accounts receivables encumbered via a UCC filing.
- No Open Bankruptcies or Foreclosures
Again, your receivables cannot be clouded, and an extensive legal reorganization of your assets does this.
- No Unpaid Taxes
When it comes to sales tax and payroll tax, there is not a corporate veil. However, we have clients that have tax issues. We work with them and taxing authorities to get you still funding.