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Re: Looking for Factoring companies

ONLY use factoring agent as last resort!

I used factoring agent for one year as clients just were not paying on time. In the end, the factoring company is now suing me, put a lien on my home and I had to close down business.

The are basically purchasing your receivables, then advance you approx 80% . But if your client does not pay you on that invoice, you not only owe what they advanced you but the totall amount of the invoice plus interest. Remember, you pay interest % daily on full amount of invoice.


IT IS TO BE USED ONCE IN A WHILE FOR CASH ADVANCE, NOT TO BE USED WEEKLY AND ON EVERY INVOICE YOU GENERATE.

DO NOT GO THERE...It is a sure way to loose everything!
This is CABL.com posting #134993. Tiny Link: cabl.co/mJht
Posted in reply to: Looking for Factoring companies by rick@osp
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