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Re: Factoring?

A factoring company is sometimes used by MSO's when they don't have the capital to flow payroll or expences. Once the vendor has signed off that the work has been completed the factoing company will provide funds to the MSO who will hopefuly pay they're employees or subs. The factoring company then collects from the vendor. Some vendors don't pay for 60, 90, or even 120 days (like Sprint). Don't think that the factoring company does this out of the goodness of they're heart. They usually charge about 2% but that is determined by how long they have to wait on they're money. This may not be true in all cases, but this has been my experience. The MSO I worked for did this, I have no idea what company he used.
This is CABL.com posting #146241. Tiny Link: cabl.co/mMcT
Posted in reply to: Factoring? by Deputydog
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