"Factoring" - Secondary Market Helps Businesses in need of Cash Flow
Many businesses who supply goods and services to other businesses are waiting for their payments to get back to them on the invoices that they sent out. They may be in need of money to pay their payroll, material bills, etc. but have used up the line of credit at the bank (primary market). Factoring is the term used to refer to a funding source who can buy the invoices from such a business and advance the needed cash and then recieve the payments from those invoices.
Laramie, WY, June 04, 2005 --(PR.com)-- Factoring is one of the world's oldest methods of finance. According to historias, factoring dates back to the ancient Roman civilization, when merchants used factoring to settle their trade debts. In the early 1900's the first independent factoring companies were started in the United States.
As factoring became more established, it became a mojor source of financing in the garment, transportation, and furniture industries. In the 1950's small to midsized businesses began to use factoring to solve their cash flow needs.
Today there are approximately 400 to 500 factoring companies in the United States. About 15 to 25 percent of these are small, independent factors. Total factoring volume in the United States in 1996 (the latest year shown for which I could find statistics) exceeded $80 billion. In 1997 factoring volume was estimated to reach $100 billion.
National factors are using trained "Certified Cash Flow Consultants" to reach those small to midsized companies to get out the word about the benefits of factoring in areas that have not been aware of this service.
Many businesses today are not aware of the service called "Factoring". They may have need of cash for growth or survival and have used up their line of credit with their banker. Banks (primary market) usually do not take business to business invoices as collateral for cash loans. The Cash Flow Industry is actively seeking to help businesses in need of cash flow by offering to buy invoices from such businesses at a resonable discount, so those businesses can plan for growth or survival.
As a Certified Cash Flow Consultant I am glad to announce the start of my company known as Mutual Cash Flow Assistance. To contact Mutual Cash Flow Assistance with questions or referals please go to: www.mutualcashflowassistance.com or contact us at 307-760-6455. Our address is P. O. Box 1700 Laramie, WY 82073. My name is Morris.
###
As factoring became more established, it became a mojor source of financing in the garment, transportation, and furniture industries. In the 1950's small to midsized businesses began to use factoring to solve their cash flow needs.
Today there are approximately 400 to 500 factoring companies in the United States. About 15 to 25 percent of these are small, independent factors. Total factoring volume in the United States in 1996 (the latest year shown for which I could find statistics) exceeded $80 billion. In 1997 factoring volume was estimated to reach $100 billion.
National factors are using trained "Certified Cash Flow Consultants" to reach those small to midsized companies to get out the word about the benefits of factoring in areas that have not been aware of this service.
Many businesses today are not aware of the service called "Factoring". They may have need of cash for growth or survival and have used up their line of credit with their banker. Banks (primary market) usually do not take business to business invoices as collateral for cash loans. The Cash Flow Industry is actively seeking to help businesses in need of cash flow by offering to buy invoices from such businesses at a resonable discount, so those businesses can plan for growth or survival.
As a Certified Cash Flow Consultant I am glad to announce the start of my company known as Mutual Cash Flow Assistance. To contact Mutual Cash Flow Assistance with questions or referals please go to: www.mutualcashflowassistance.com or contact us at 307-760-6455. Our address is P. O. Box 1700 Laramie, WY 82073. My name is Morris.
###