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There are options available to companies when additional funding is needed for accounts receivables. Toledo Business Journal obtained information that follows from a national factoring provider, BlueVine, located in Palo Alto, California, in order to provide readers with an overview of invoice factoring.
Invoice factoring turns unpaid invoices into cash immediately, making it beneficial if a company has strong sales but is perpetually waiting for customers to pay. Invoice factoring inserts a third party (the "factor") into the payment chain: the business gets paid by the factor, and then the factor is repaid by the customer when the invoice is due. Usually the...