Small Business Loan Alternatives – What is Invoice Factoring? Turn Unpaid Invoices into Fast Cash in 2022
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As a small-business owner, you can turn your unsettled client billings into quick money with billing factoring. This funding alternative is best for entrepreneurs whose consumers are other organizations. Since these clients usually do not spend for products or services right now, billing factoring can offer instant money for company owner to keep paying staff members or other costs.
What is billing factoring?
Technically, billing factoring is not a loan. Rather, you offer your billings at a discount rate to a factoring business in exchange for a swelling amount of money. The factoring business then owns the billings and earns money when it gathers from your consumers, usually in 30 to 90 days.
Find out more https://www.nerdwallet.com/article/small-business/invoice-factoring
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