Anchor Funding Services Blog

Morry Rubin, CEO/Chairman of Anchor Funding Services Quoted in New York Times
posted by Jeff Novak: Tuesday, December 23, 2008 | 0 Comments Links to this post | Permalink

Morry Rubin, CEO/Chairman of Anchor Funding Services was quoted in a New York Times article titled "The Fight to Survive, Writ Small" in the Small Business Section. The article is about the difficulty that small businesses are having as lenders hoard cash and customers take longer to pay their bills. Many small businesses can not meet requirements to get bank loans.

The article then goes into detail about one avenue of financing that is readily available, factoring or accounts receivable financing. Morry Rubin discusses the tightening of the current credit markets and that clients who normally paid in 15 days are extending to 30 and those that paid in 30 are well past 60. Anchor Funding Services, a factoring company has seen a significant increase in business over the last couple months and expects that to continue as "the crisis was not created in one day - it will take time to heal."

If you are a small or medium sized business that has been turned down by bank lenders and are having a difficult time meeting payroll or your clients have been slow to pay contact one of our Business Development Officers at 866-950-6669 or go to our website and get a no obligation quote to learn if accounts receivable financing would help your business.

Labels: anchor funding services, factoring, morry rubin

WSJ - Small Firms See Financing Harder to Get
posted by Jeff Novak: Tuesday, September 16, 2008 | 0 Comments Links to this post | Permalink

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

Fed Says More Banks Are Tightening Lending Standards
posted by Jeff Novak: Tuesday, August 12, 2008 | 0 Comments Links to this post | Permalink

According to the AP, The Federal Reserve said Monday that a majority of the banks surveyed reported tigtening their lending standards and terms on all major categories of consumer and business loans over the last 3 mos. The tightening of standards means that less and less small and medium sized businesses are unable to get a loan from the bank to expand or continue operations. According to additional results of the survey, according to Forbes, the trend will continue, "as on loans to businesses, 55% of domestic respondents, ... said they expected to tighten standards in the second half of 2008."

This means there will be little relief for small and medium sized businesses through the rest of the year. These businesses will have to turn to alternative financing methods to increase their cash flow. Factoring, or accounts receivable financing, is one alternative to quickly and easily increase cash flow.

Anchor Funding Services, a factoring company, offers low rates, flexible programs, Free Credit Checks, and a free ho hassle application. Visit our website to get a no obligation quote or us call toll-free at 866-950-6669.

Labels: factoring, tightening business loans

Learn about Factoring with JoeBiz Video
posted by Jeff Novak: Wednesday, July 23, 2008 | 0 Comments Links to this post | Permalink

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

Premiere Blog Post
posted by Jeff Novak: Thursday, July 17, 2008 | 0 Comments Links to this post | Permalink

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.

Feel free to subcribe to our RSS Feed or check back often for updates.

Labels: anchor funding services, factoring