9. July 2009 03:53
Back in the good old days, you know before the government took over GM… Before the likes of Lehman Brothers, Circuit City and countless others went belly up. Back when doing business with any large, well known company was practically a guaranty of growth for your business. Your first class ticket to ride the smooth waters of prosperity.
You know…BEFORE 2008.
We all now (and at least for the foreseeable future) find ourselves living in an alternate reality. One which causes business owners to question the health and life of even their best customers. Even large, solid companies that are not running out of red ink while printing their quarterly financials, are holding on to their cash as long as possible. The result? Slower payments to their venders.
Can a factoring company help in this situation?
Most factoring companies spend a good deal of their underwriting process vetting their prospective clients’ customers. And for good reason.
It’s the ultimate goal of both the factoring company and client to get paid for their receivables. This is a crucial component of any factoring relationship. Over the years we have helped many clients sail past the squalls and choppy waters of customers who posed a big credit risk.
So…here’s to partnership and smooth sailing; or at the very least a less bumpy ride!
1. July 2009 04:50
Recently Crestmark Partner Services was able to partner with a local MI bank to provide financing for a struggling manufacturing company.
Case Study from Crestmark Bank