{"id":4716,"date":"2021-02-24T08:50:00","date_gmt":"2021-02-24T13:50:00","guid":{"rendered":"https:\/\/accordfinancial.com\/staging\/?p=4716"},"modified":"2021-03-11T15:48:38","modified_gmt":"2021-03-11T20:48:38","slug":"so-you-think-you-know-about-factoring","status":"publish","type":"post","link":"https:\/\/accordfinancial.com\/staging\/so-you-think-you-know-about-factoring\/","title":{"rendered":"Untangling Factoring Myths and Facts"},"content":{"rendered":"\n<p><\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">What\u2019s really important is to know when factoring is the best financing solution.<\/h2>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul class=\"wp-block-list\"><li>Companies that are outgrowing their line of credit or who are ineligible for one because of a lack of equity can access as much financing as they have eligible receivables.<\/li><li>Companies that are in a challenging financial situation can still be financed while they work out a game plan.<\/li><li>Companies that need more flexibility can benefit greatly from factoring. Seasonal businesses, for instance, can have wildly fluctuating financial needs.&nbsp;&nbsp;<\/li><\/ul>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Now, let\u2019s dispel some of the myths surrounding factoring.<\/h2>\n\n\n\n<p>Factoring is not last resort financing.&nbsp;&nbsp;In fact, it can be a great solution for companies facing high-growth opportunities.&nbsp;&nbsp;Knowing access to funds is available lets a company seek out and accept purchase orders with confidence.<\/p>\n\n\n\n<p>Factoring can take several forms.&nbsp;&nbsp;For instance, with full notification factoring, the customer makes payment directly to the factor.&nbsp;&nbsp;Other methods are to have the customer pay a lockbox or into a blocked account, so the customer has no direct relationship with the company.&nbsp;&nbsp;And, there are various choices in between.&nbsp;&nbsp;The factor will determine the appropriate structure based on various criteria.<\/p>\n\n\n\n<p>An asset-based loan against inventory or equipment can be granted in tandem with a factoring facility.<\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Why factor with Accord?<\/h2>\n\n\n\n<p>Accord offers the one of the most flexible programs in Canada for companies looking for $500,000 to $2,000,000.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>No fixed term<\/li><li>No set up fee<\/li><li>Disbursement within 10 days<\/li><li>Credit approval is based on the quality of the customer, not the company\u2019s balance sheet<\/li><li>No covenants<\/li><li>Spot Factoring is available&nbsp;<\/li><\/ul>\n\n\n\n<p>Accord has a long track record of successfully supporting small business.<\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><strong>We want to simplify your access to capital. For a zero cost, zero obligation discussion with one of our factoring professionals you can call or write<\/strong><\/p>\n\n\n\n<p>Cynthia Aboud, Senior Vice President:  5148466850  \/  <a href=\"mailto:caboud@accordfinancial.com\">caboud@accordfinancial.com<\/a><br>Kevin Westfall, Vice President:  4169616620  \/  <a href=\"mailto:kwestfall@accordfinancial.com\">kwestfall@accordfinancial.com<\/a><\/p>\n\n\n\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Factoring is the purchase of a company\u2019s receivables where the factor advances 75-90% of the face value of the invoices once the product or service is delivered to the customer. It\u2019s like a real-time line of credit in terms of cash flow. The reserve, the 10-25% is given to the company when their customer pays the invoice.<\/p>\n","protected":false},"author":1,"featured_media":4733,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13],"tags":[],"location":[],"class_list":["post-4716","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-insights"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>02\/24\/2021 | Untangling Factoring Myths and Facts | Accord Financial<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/accordfinancial.com\/staging\/so-you-think-you-know-about-factoring\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"02\/24\/2021 | Untangling Factoring Myths and Facts | Accord Financial\" \/>\n<meta property=\"og:description\" content=\"Factoring is the purchase of a company\u2019s receivables where the factor advances 75-90% of the face value of the invoices once the product or service is delivered to the customer. It\u2019s like a real-time line of credit in terms of cash flow. The reserve, the 10-25% is given to the company when their customer pays the invoice.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/accordfinancial.com\/staging\/so-you-think-you-know-about-factoring\/\" \/>\n<meta property=\"og:site_name\" content=\"Accord Financial\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/accordfinancialcorp\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-24T13:50:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-03-11T20:48:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/accordfinancial.com\/staging\/wp-content\/uploads\/2021\/02\/accord-news-2021-factoring-facts-myths.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2400\" \/>\n\t<meta property=\"og:image:height\" content=\"1600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Brooks\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" 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