posted by Jeff Novak: Tuesday, September 16, 2008
The Wall Street Journal today said the Lehman Brothers Bankruptcy filing, Merrill Lynch being bought and the overall market conditions will lead to tighter credit and tougher borrowing standards. Â The article quotes Scott Shane, an entreneurship professor at Case Western Reserve University, "Some businesses with solid credit histories and long track records will probably be only slightly affected, but many start-ups with no financial track record and those with less-than-stellar credit histories will have trouble borrowing money to run and expand their operations."
For small and medium sized businesses that have been turned down by banks, there are several options mentioned in the article, including credit unions, smaller community banks as well as non bank lenders offering accounts receivable or assets as collateral.
Anchor Funding Services, offers accounts receivable financing, also called factoring, to small and medium sized businesses. Â With factoring, the creditworthiness of your customers is the most important factor, not how long you have been in business, your personal credit history or your creditworthiness.
To get more information on factoring, visit Anchor Funding Services, call one of our Account Executives at 866-950-6669 or get a no obligation quote.
Labels: accounts receivable financing, factoring, nonbank funding options
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