Which Receivable Factoring options are available for Women-Owned Business? The article describes steps women entrepreneurs can take to get the funding they need.
Accounts Receivable Financing or Receivable Factoring is based on a few variables.
Women entrepreneurs should keep these in mind:
- Client’s Credit Worthiness Invoice factoring is not based on your credit score or business balance sheet but your client’s. 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 open 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 still get you a funding.