Discount Factoring is the wave of the future in terms of Small Business Financing. Not that is was simple before, but no longer can a small business owner go into his local bank and get a Small Business Loan without having a strong history to back up the requirements of the banks.
And face it, with the economy what it has been over the last few years, fewer and few companies will fit into the banks idea of what a good customer for them is. If you happened to get in to any problems with the CRA or IRS, you need not apply
This is exactly what happened with a company in New Mexico who needed Discount Factoring to cover their payroll and tax arrears. The company had been struggling with Receivables Collections but now they are using Discount Factoring to bridge the gap in Collection times.
When the IRS or CRA get involved in the process, the deal does become more complicated for sure. The time for funding does get stretched out, but it can be done.
To satisfy the government, a proposal must be done to the agency you are dealing with along with a plan to pay off the arrears as well as keep current with future payments. Discount Factoring is very similar to what the Auto Industry is doing for their bailout financing where the government is covering many of the debts of the automakers to the Auto Suppliers in Detroit.
Next question then becomes who will handle the process to the government? If you have a Commercial Finance Broker, they will handle it. And since they will have been down this road many times, the process will go smoother. The Professional Commercial Finance Broker will handle the negotiations with the IRS or CRA on your behalf and assemble all the required documents for the process.
If your company needs additional Cashflow for supplier payments, payroll, new equipment or to pay the IRS/CRA Discount Factoring may be just what your company needs. Be sure to speak to a Professional Commercial Finance Broker to get the best program for your businessand best of all, most lenders pay the broker directly so you do not have too. - 16890
And face it, with the economy what it has been over the last few years, fewer and few companies will fit into the banks idea of what a good customer for them is. If you happened to get in to any problems with the CRA or IRS, you need not apply
This is exactly what happened with a company in New Mexico who needed Discount Factoring to cover their payroll and tax arrears. The company had been struggling with Receivables Collections but now they are using Discount Factoring to bridge the gap in Collection times.
When the IRS or CRA get involved in the process, the deal does become more complicated for sure. The time for funding does get stretched out, but it can be done.
To satisfy the government, a proposal must be done to the agency you are dealing with along with a plan to pay off the arrears as well as keep current with future payments. Discount Factoring is very similar to what the Auto Industry is doing for their bailout financing where the government is covering many of the debts of the automakers to the Auto Suppliers in Detroit.
Next question then becomes who will handle the process to the government? If you have a Commercial Finance Broker, they will handle it. And since they will have been down this road many times, the process will go smoother. The Professional Commercial Finance Broker will handle the negotiations with the IRS or CRA on your behalf and assemble all the required documents for the process.
If your company needs additional Cashflow for supplier payments, payroll, new equipment or to pay the IRS/CRA Discount Factoring may be just what your company needs. Be sure to speak to a Professional Commercial Finance Broker to get the best program for your businessand best of all, most lenders pay the broker directly so you do not have too. - 16890
About the Author:
Wade Henderson - very Professional - 15 yrs in the Business Finance Field - Gets the deal done. IMMFinancial.com Accounts Receivable Factoring Accounts Receivable Financing
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