Daily News: August 7, 2012

CIT Factoring U Releases ‘How to Minimize Bad Debt Losses’ Video

CIT Factoring University launched “How to Minimize Bad Debt Losses,” the second in a series of videos that educate business owners on the features of factoring and how the service could benefit their business.

“Bad debt losses can be a significant problem for business owners who need these funds to operate their companies,” said Jon Lucas, president of CIT Trade Finance. “This short video provides business owners with information about how a factoring company could help them minimize bad debt losses.”

A bad debt loss occurs when a business is unable to collect a debt that it is owed, and all reasonable efforts have been exhausted to collect the amount owed.

CIT Factoring University is a Web site that offers a comprehensive education-based approach to the financial service known as accounts receivable factoring. The site provides a variety of exclusive content that highlights the benefits of factoring for business owners. Visitors can view testimonial videos that feature executives from consumer product industries who explain why they use factoring and how it benefits their businesses. In addition, CIT Factoring University provides a list of Frequently Asked Questions; infographics that explain the factoring process, business solutions provided by factoring, and more.

CIT Factoring University’s inaugural tutorial video featured “What is Factoring?” Individuals interested can join the discussion about factoring on the Factoring University LinkedIn group, CIT said.

To view the tutorial video, click here.