Franchising offers financial service entrepreneurs the same benefits that food outlets, hotels and car repair shops currently enjoy. For an upfront investment, the franchisee receives support from the franchisor, association with a trusted brand and expanded business opportunities. David Banfield explains how factors and invoice discounters now use franchises, rather than branches, to provide clients with a local presence.
Factoring — selling invoices for cash to obtain working capital — can provide a business with much-needed liquidity to spur growth. Robinn Mikalic has spent 18 years in the factoring business. A passionate factoring advocate, she uses real life examples to illustrate how factoring works and how businesses can best use it to generate cash and promote growth.
Before revolving credit, venture capital and equity investments, there was factoring. Today, the world’s oldest method of raising business capital has moved online. With the push of a button, companies can sell their accounts receivable and have funds in their accounts within hours. ABF Journal editor Nadine Bonner speaks with the owners of two fintech factoring companies and their clients to see how factoring has been revolutionized.
Online factor BlueVine closed $40 million in funding led by Menlo Ventures, with participation from Rakuten FinTech Fund, Lightspeed, 83North, Correlation Ventures and a new debt facility from Silicon Valley Bank.
BusinessCash announced an increase in biotech supplier invoice factoring and purchase order financing deals in the 3rd quarter of 2015.
In a Q&A, Mike Hudgens, Southeast regional manager of CIT Commercial Services discussed the U.S. furniture industry and why it’s expected to outpace the U.S. economy.
DS-Concept Factoring provided a $1 million export accounts receivable facility to a components manufacturer in Germany.
Forbes reported that small business invoice finance company Fundbox raised $50 million in a new round of financing from new investors Spark Capital Growth and Amazon CEO Jeff Bezos.