Small Business Administration

SmallBusinessReports.org publishes ideas, trends and features for US business owners. Financial tech reinvented the oldest form of business financing, historically known as factoring. It is called Fixed fee short-term working capital with daily repayment. Early Americans including George Washington and Thomas Jefferson used factoring to finance the... ir tobacco crops. Factoring also was the key to the growth of the cotton industry. A trading partner would purchase a portion of next year's crop at an appropriate factor rate, providing the farmer with working capital for immediate needs. This flexible business capital strategy is not available from banks because it is not a loan product. It is experiencing a surge in mainstream adoption by business owners who need working capital for any reason but were turned down by their bank for a traditional business loan. Access to short-term money for working capital is critical to small businesses that need to consolidate debt, smooth out cash flow, make necessary purchases of equipment and inventory, expand to keep up with growing demand, or for any reason. Business Growth Factor is a new improved business capital strategy that was developed and tested over the last ten years, but 80% of business owners have not yet taken advantage of it or may not know about it.Read More