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TIL the invoice factoring company I ignored for 3 years was actually the real deal
A rep from a factoring outfit in Charlotte kept calling my landscaping business about covering the gap between finishing a $14,000 job and getting paid 45 days later, and I blew her off as a pushy sales call. When two big clients started stretching payments to 60 days this spring, I finally signed up and the money hit my account in under 48 hours minus a small fee. Has anyone here used factoring long term, and did the fees start adding up once your cash flow smoothed out?
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elizabethn568d ago
Doubt the fees stay small once those 60 day payers go back to normal, since factoring only makes sense when you're actually stuck waiting on money. Seems more like a quick fix than something you'd want to keep forever.
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