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“Services provided by IGF allowed us to capitalize on significant growth opportunities over a short period of time; tripling our workforce and increasing our revenue 10 fold”
Carol Craig
President,
Craig Technologies
A Beginners Guide To Factoring
why didn't somebody explain factoring to me before this?
Although factoring has been around for over 4000 years and was instrumental in supporting the American colonies prior to the revolution, it is one of the least known and most misunderstood financial tools available to the small business.
Invoice Factoring
It used to be factoring agreements were on an all or nothing basis. In other words, you either factored your invoices or didn't. Recently, single invoice factoring (spot factoring) has become popular because you are allowed to factor as many or as few invoices as you desired. Read the rest of this article for a more complete understanding of how single invoice factoring works.Working Capital Loans
You own a small business. Business is great. If only you could lay your hands on some additional working capital,you could expand your company and take it to new heights. Whether it's a one-time need, or an ongoing necessity,
working capital or the lack of it, is often the difference between success and failure. Find out how spot or invoice
factoring can provide solutions and working capital just when you need it the most.
Factoring for the Small Business
You've heard about factoring. You even have grasped most of how factoring works in practice. The next question is howdo you know whether factoring is right for you and your business? There's a time and place for everything and that includes
what the right times and conditions are for a small business to use spot or invoice factoring to speed up cash flow, increase working capital and grow their business.
Accounts Receivable Financing
While often confused with accounts receivable factoring, which is another way of saying invoice factoring, accountsreceivable financing technically refers to a loan agreement between two parties. Factoring is a financial purchase or
transaction and involves three parties. The biggest difference is that with a loan it's your credit that matters, with a factoring agreement it's your customers credit worthiness that matters. Sometimes, this can make all the difference in the world.
Accounts Receivable Factoring
Just when you thought you had factoring figured out, you hear things like accounts receivable factoring with and withoutrecourse. What does this really mean? Our clearly written factoring primer has the answers to this and other questions.
Spot Factoring
This term has been creeping into the factoring lexicon. Essentially, it is the same thing as single invoice factoring.The reason that it is called spot factoring, and is becoming more common in its usage, is that it refers to the increasingly
popular practice of being able to pick your spots and choose which invoices, if any, you want factored. This allows you to
retain the most amount of your money, while spending the minimum fees to guarantee adequate cash flow.
Spot Cash Loans
As the name implies, spot cash loans are frequently used to get you and your company out from under a tough spot.Frequently, factoring services can be used to provide these spot, or immediate, cash loans thereby ensuring the
companies continued success. If your company is struggling with cash flow issues, a spot factoring consultant from
IFG Network may have the answers.
We invite you to contact us by clicking here if you have any questions concerning single invoice factoring, or are
interested in learning how factoring can be of assistance to your business. You are also welcome to give us a call
at the IFG Network corporate offices at 877-210-9748. We'll be happy to discuss your factoring options.
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