In the New York Times today, there was another article on how many banks are curtailing loans to businesses. The article quotes Federal Reserve data that commercial and industrial loans from banks and short term commercial paper dropped almost 3% over the last year. The Times article says the housing and mortgage losses that banks are experiencing is affecting other areas of the business world. Profitable businesses with solid credit are even having a difficult time getting loans, or if they do the rates are high and the wait times are longer.

If your business has been turned down for a loan from a bank or you would like to consider alternative financing methods, factoring your accounts receivable is often a viable option. When factoring, a business sells their accounts receivable to a factoring company for cash. The credit worthiness of a business or the principals of the business are not important to a factor, what is important the credit worthiness of your suppliers and how likely they are to pay their bills.

To get a free factoring quote, visit our website, or call our toll-free number 866-950-MONY (6669).

Labels: alternative to bank loan, factoring your accounts receivable

Many small and medium sized business owners are not familiar with factoring and do not know that through AR funding, they can get cash for their Accounts Receivables. The cash can then be used to expand their business, pay suppliers or meet payroll.

In the brief video below, Anchor Funding Services explains factoring and shows how easy it can be to get cash for your receivables using Joe Biz, a small business owner as an example. Anchor Funding buys Joe's accounts receivable and gives Joe cash for those receivables. Anchor then collects the funds from Joe's suppliers, gets a small fee and wires the rest of the money to Joe's business. Anchor Funding Services also provided credit checks free of charge on all of Joe's clients and prospects, so Joe can feel confident with who he does business with.

If you think your business would benefit from Anchor Funding Services accounts receivable factoring services, please do not hesitate to call 866-950-MONY (6669) to talk to one of our friendly Account Managers, or you can get a quick quote here.

Labels: accounts receivable funding, anchor funding services, factoring, Joe Biz video

Welcome to the Anchor Funding Services Factoring Blog-

Anchor Funding Services is a factoring company based in Charlotte, NC with a sales office in Boca Raton, FL and a satellite office in the Odessa/Midland area of Texas to serve the unique needs of small and medium sized businesses in the Oil and Gas Industries. This blog will keep you up to date on the latest news and trends in factoring, tips and tools for small businesses, as well as financial news that potentially could effect you, our partners and our clients.

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Labels: anchor funding services, factoring