Working capital/ Invoice factoring
Working capital/ Invoice factoring
Working capital is for when your business has unpaid customer invoices that you can’t wait to be paid. You can use invoices to get cash now. Best for businesses with unpaid invoices that need fast funding, which is easier to get approved for compared to other similar options.
Pros:
Fast Cash
Fairly simple and easy approval
Cons:
Cost of borrowing may be high
Best for:
Businesses with invoice that need cash right away
Invoice with 30,60 or 90 day payment terms are best