History of Factoring
Factoring, as a method of securing capital, goes back to early times evolving into a modern financing technique. Historically, most factoring took place in the textile and garment fields. Factoring extended into the shoe, furniture, hardware, and other manufacturing industries. Now factoring is spreading into all business-to-business lines.
Factoring provides well in excess of $200 billion of improved cash flow to industries each year. It has been used for decades by multi-billion-dollar Fortune 500 companies such as IBM, Georgia Pacific, Scott Paper, Honeywell, and Shell Oil.
Now, this proven, debt-free, and flexible method of effectively multiplying your working capital is available to smaller-sized businesses like yours.
Some of the more common industries that rely on factoring to maintain a steady flow of cash include:
- Personnel / Temporary agencies
- Trucking companies
- Caterers
- Commercial printers
- Commercial bakeries
- Manufacturers
- Wholesalers
- Importers
- Distributors
- Apparel (garment, textile)
- Communications
- Footwear
- Toys and sporting goods
- Security companies
- High-tech and related industry
- Cable installers
- Professional services (legal, accounting)
- Construction companies
ANY BUSINESS GENERATING INVOICES TO BUSINESS OR GOVERNMENT
