Date Added: Jan 2010
There are many businesses that have stayed in business and benefit from the working capital garnered from invoice factoring for small business in the face of tight credit at mainstream banks. First documented in the American colonies before the revolution, at a time when materials and/or goods were shipped from the colonies to the Americas, factoring is not a loan but it's the purchase of financial assets, also known as receivables. Invoice factoring benefits businesses that do not get paid for 30 to 60 or 90 days by advancing up to 90 percent against invoices. The factor generally looks at the creditworthiness of the client's customers and can fund within as little as 24 hours.