Factorpedia.com
Welcome to Factorpedia! Here you will find all the information you need to understand factoring and how it will help you start, grow and manage your business.
We hope you will find that this site is the best resource on the web for finding and understanding how to finance a business by selling its accounts receivable. Many entrepreneurs are not aware of what factoring accounts receivable is. It can be a very powerful a tool for bootstrapping a business. It is also a great tool for funding growth or turning a business around. Our goal is to educate and inspire entrepreneurs to use factoring to finance amazing business results! At Factorpedia.com you can find information and resources to help start a business and grow a small business into a medium or large business. Industries Invoice Factoring Is Commonly Used In: · Temporary employment companies and startups · Staffing companies and startups · Apparel manufacturing business · Magazine publishers · Biotech companies
Invoice Factoring / Accounts Receivable Factoring– the selling of business to business invoices at a discount to generate cash to start and run your business.
Purchase Order Funding / Purchase Order Financing– PO funding involves using an order you get from a customer as collateral to generate the cash you need to fill, complete or deliver the goods or services in that purchase order.
Starting A New Business- Today many people will find that it is their time to start a business. You can use invoice factoring to bootstrap your new business you can fund the startup phase. Accounts receivable factoring is an excellent resource in today’s credit crunch. Many people are using factoring services as part of their business plan for reinventing their new careers as entrepreneurs.
Medical Finance / Medical Factoring– All types of health care practices use their medical accounts receivable from Medicare, Medicaid and third party insurance companies to satisfy their day to day operating cash needs. Since medical accounts usually take upwards of 120 days to pay and healthcare patient needs are growing exponentially medical factoring is filling the need for cash to keep practices going while growing.
Customer Credit / Business Credit - Invoice factoring companies rely heavily on the credit worthiness of your customer who purchases your goods and services (the account debtor). Learn more about how they evaluate your customer business’ ability to pay their bills. Factoring companies are experts on business credit and making sure the business credit on customers is solid so that invoices get paid.
Collection of Accounts Receivable – The collection of outstanding invoices is the most important step in the cash cycle for any small or medium business. Factoring companies use many collection tools and techniques to turn invoices to cash. This expertise gives the factoring client they work for an advantage when standing in line to get paid by a customer.
Common Factoring Terms / Secured Lending Terms– By reviewing factoring terms an entrepreneur can quickly understand factoring and secured lending. The business owner will be prepared to work with a factor to get the best deal for themselves.
Small Business Resources – This is the golden age for small business. Advances in technology and business models that give away technology for free make it easy to start and run a new business. These services can put the small business on par or better with their biggest competitors. Our small business resource blog highlights many of the interesting free and low cost products and services we have come across and use ourselves that make starting and managing a business easy and affordable.
Factoring Blogs– Factoring information is more accessible than ever before. Many knowledgeable factoring industry experts write blogs to inform their customers and prospects about various factoring, finance and small business related topics. These blogs can be great resources for the potential factoring client and the veteran factoring client.
Factoring Videos– Many factoring companies are embracing the video revolution of the internet and making their own short videos to promote factoring and their businesses. We include some of the more informative here.
Sales and marketing – An accounts receivable line of credit really helps a business focus on growing their revenue via their sales efforts. With the factoring company managing the accounts receivable the business owner can ramp up sales and marketing. In an economic downturn ramping up sales revenue is crucial to survival and can even help a business gain market share over its competitors.