Spot Factoring Is Another Option for Cash-Strapped Businesses
Friday - April 26, 2013 at 07:52 am
Although the economy appears to have turned the corner from the Great Recession, our next guest says many businesses still find themselves unable to obtain credit lines from banks. And so another option for funding that they turn to, in this situation, is known as factoring, in which a company offers to buy another company's accounts receivable at a discount, in order to provide some short-term working capital. But factoring doesn't always have the greatest reputation.
Mike Switzer vinterviews Mark Osborn, a Principal with the Interface Financial Group in Mt. Pleasant, a "spot-factoring" company.