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WORKING CAPITAL / INVOICE FACTORING
Working capital is for those times when your business has unpaid customer invoices and 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. Factoring loans are easier to get approved for compared to other similar options.
Pros:
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Fast Cash
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Fairly simple and easy approval
Cons:
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Cost of borrowing may be high
Best for:
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Business with invoice that need cash right away
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Invoice with 30, 60 or 90-day payment terms are best
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