When Should You Consider Factoring?
When lack of cash keeps you from making the next sale, factoring may be a solution. When the benefits of factoring (including immediate access to cash, and the ability to continue production, make payroll, pay taxes, and/or take advantage of vendor discounts) outweigh the costs of factoring, then factoring should be considered.
How to tell:
"This article gives an excellent perspective of why a great operating company may not be a great innovator anymore. The great operators of the world certainly do need to have innovative products and processes, but acquiring them may end up being the best path for them."
Dylan Morgan, Executive Vice President, Prairie Business Credit
What Others Are Saying About Us
"Prairie Business Credit quickly assessed an existing borrower's financing needs, and they refinanced us out of that difficult credit. They closed what they proposed, and we've added them to our bank's possible refinance lenders in the Chicagoland marketplace."
- Bank C&I Workout Leader
25 Years Has Taught Us...
After being in business for 25 years, financing over 500 companies, graduating 70% of them to be bankable clients, we have learned a few things along the way.
Honestly assessing your product and service is what your customers do. Know what they think.
An ongoing and built in mistake most entrepreneurs make, especially those with a close knit team, can and often do make is to reassure themselves that they are meeting their customer's/client's needs, without really knowing if that's true. All the best companies we've dealt with in the past few years, survey their buyers constantly. So should you. We're just starting. The answers can be both uplifting and a cold splash of reality. The customer is paying for your product or service so they are really the only opinion that matters.