Alternative Business Financing Solutions: Dispelling the Myths about Factoring

in Forum: Startup Funding

Source of this discusssion: /articles/1213/1/AT_Alternative_Business_Financing_Solutions.asp Page description: Many professional advisors and consultants — including CPAs and bankers — are sometimes hesitant to recommend alternative business financing solutions to their clients. But factoring, commercial finance lines, advance pay programs, purchase order financing and supplier guarantees are viable financing alternatives. The problem is that many misconceptions exist concerning these options, so let’s look at two of them.

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Aug. 09 2007 at 12:36 PM
Posted by: JKLEAN “Quote Reply
Hi! I may have the need to consider getting factoring money. Has anyone done this? Do you have any recommendations? Thanks! JenniferScentually Yours! Jennifer Hardaway http://www.kleanbathandbody.com 866-412-7343
Aug. 09 2007 at 12:57 PM
Posted by: robertj “Quote Reply
Jennifer, Factoring has advantages and disadvantages. It can be very useful in managing cash flow. I don't recommend it as your primary "long-term" funding strategy. So my recommendations are: 1. Consider your options 2. Talk to several professionals in the factoring business. 3. Check them out!!! Make an informed choice. Business Growth Masters, LLC - Capital Catalysts for Entrepreneurs Home of the Scalable Business Plan and QuikStart Capital Programs http://www.bizgrowthmasters.com info@bizgrowthmasters.com