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they have agreed to sell the West Coast customer’s invoice to the factoring company in exchange for a 90% advance on the total amount – within 24 hours! This much needed influx of cash will replenish
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Ted chimed in with, “Without a doubt! Whatever the fees were we made back and more since we were now able to hire more personnel so we could take on more business. It worked out for us and for them
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whereas factoring converts receivables (an asset) into cash (another asset); • And of course, bank loans can be very difficult to get because they’re limited by your balance sheet. How Do You Start