First, Jeanne (OkieJ), explained that small businesses don’t get much of our money from banks. I gave a link to a bit more on how to raise money from friends and family. Now Marco Terry explains another option in his blog, Invoice Factoring: Small Business Financing:
There are still two types of financing that are widely available to small businesses – even micro businesses. They are factoring, small business factoring and purchase order financing.
These three business financing tools have one thing in common. They can supply you with financing if you:
* Sell products to business clients (not consumers) or the government
* Have an ongoing business with some clients
More importantly, they can help your business grow without the restrictions of a business loan.
Terry is a professional in invoice factoring, and his blog explains all about it, removing some mystery from a subject most small business people, and especially rural small biz people don’t know much about it.
UPDATE: Here’s the link to Terry’s updated website.
- Holiday 2022 Marketing: Share your holiday traditions - November 28, 2022
- Holiday Marketing 2022: Support your service businesses - November 22, 2022
- Holiday 2022 marketing: Giving Tuesday is November 29 - November 21, 2022
- Holiday 2022 marketing: Cider Monday November 28 - November 17, 2022
- Holiday 2022 marketing: Artists Sunday is November 27 - November 16, 2022
- Holiday 2022 Marketing: Small Business Saturday November 26 - November 15, 2022
- Holiday 2022 marketing: Plaid Friday is November 25 - November 14, 2022
- Holiday 2022 Marketing: Spotlight on Community - November 10, 2022
- Holiday 2022 marketing: Spotlight a local business - November 9, 2022
- Picking your Holiday 2022 marketing theme - November 8, 2022
Hi Becky –
Well, I am flattered! I was browsing through your blog and found that my little company is in one of your posts.
Have an excellent day (you made mine)
–Marco