Date Added: Jan 2010
Slow paying customers can break almost any new business, and banks are usually reluctant with helping your business get on its feet. Recourse factoring companies offer a viable solution to your cash flow problems. By allowing a factoring company to hold your invoices today, you can get a cash advance on future payments now rather than later. When those invoices get paid, you are paid any remaining amount directly from the factoring company. Recourse factoring means that if the invoice is not paid, the company has recourse to obtain the monies advanced from your business directly.