Daily News: December 31, 2014

BusinessCash Announces Purchase Order Financing Services

BusinessCash, a factoring company offering services across the U.S., announced a new invoice verification service supporting credit unions, community banks and ABL groups by reducing risk in funding invoice factoring and purchase order financing transactions. Their program, previously only internal, has resulted in a historical loss of less than 1/2 of 1%.

Credit unions, community banks and ABL groups can brand BusinessCash’s products under their own banner but outsource all credit, verification, collection, risk and back office functions to BusinessCash utilizing their 16+ years of experience. Further, BusinessCash shoulders credit risk with their portfolio insured against bankruptcy/insolvency in regards to the banks customer’s clients (the account debtors).

Chris Curtin, BusinessCash’s national sales manager, said, “We look at risk in all its flavors: fraud, proper verification, dilution and debtor credit risk just to name a few. This process protects the bank, the factoring company and factoring client helping ensure a smooth and successful transaction.”