President, Saint John Capital Corporation.
Facts & Figures About Invoice Factoring
Starting or running a business can be a great thing. There are many opportunities for success, but there are also times of difficulty and anxiety. When cash flow is limited, there are options available to you, such as factoring. Put simply, factoring is the practice of selling outstanding invoices to a factoring service company at a modified rate. The factoring company then promptly pays you the money up front. Then it collects on the full invoice. In this way, the business receives money fast to meet its payroll, buy materials, or pay its own bills.