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Accounts receivable factoring–also known as accounts receivable funding–is a way for small businesses to obtain fast working capital without the need for a loan or repayment. A company’s accounts receivable–invoices sent to clients for goods, or services rendered–are listed on a balance sheet as an asset. The small business can then sell these invoices to a larger company, which then takes on the risks of collecting the money owed by clients and provides the small business with immediate funds.
A small business will usually be required to “age” its invoices before receiving accounts receivable factoring. For accounts less than 30 days old, a provider may pay around 75 percent of the value of the invoice. But for accounts that have been outstanding for a longer amount of time, the provider will typically pay less. Some providers are unwilling to take on accounts that have been outstanding for longer than 90 days.
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