If you want to know how to do factoring, this article will be a good start. First, the factoring company will deduct a small percentage of the final balance owed by the customer as the fee. It is based not upon your credit score or your credit history but the credit of the customers you deal with. You don’t have to wait for your customers to pay you in order to continue your business operation. There are many customers and shippers who do not pay on time and this could affect your relationship with your creditors. If you learn how to do factoring, this will no longer be a problem for your business.
The payment on the invoices goes directly to the factoring company to repay the advance made to the company seeking accounts receivable factoring. Always keep the original invoices and bills to submit to Read full article>>