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Has anyone got any expreience of factoring

Discussion in 'Business & Tax Advice' started by mattbowden, Jul 26, 2011.

  1. mattbowden

    mattbowden Regular Member

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    how sucessful was it and what sort of level of income do you need to generatein order to be accepted
     
  2. kralcx

    kralcx Junior Member

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    never heard of it
     
  3. ichiban

    ichiban Junior Member

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    merchant credit processors?
     
  4. Nookie Monster

    Nookie Monster Senior Member

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    Are you taking about factoring A/R ?
     
  5. jonnyquest

    jonnyquest Regular Member

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    factoring is the process of buying a companies Account Receivables at a substantial discount for cash

    Ex ... you pay company 50 cents on a $1000 invoice ... the company get $500 cash now and have to wait for the $1000 at a later day.

    Advertise: We Buy Your Accounts Receivables

    You have to be aggressive and a good negotiator
    You must have cash or a financial backer

    Suggestion is you work for a factoring company and then strike out on your own

    JQ