First, Jeanne (OkieJ), explained that small businesses don’t get much of our money from banks. I gave a link to a bit more on how to raise money from friends and family. Now Marco Terry explains another option in his blog, Invoice Factoring: Small Business Financing:
There are still two types of financing that are widely available to small businesses – even micro businesses. They are factoring, small business factoring and purchase order financing.
These three business financing tools have one thing in common. They can supply you with financing if you:
* Sell products to business clients (not consumers) or the government
* Have an ongoing business with some clients
More importantly, they can help your business grow without the restrictions of a business loan.
Terry is a professional in invoice factoring, and his blog explains all about it, removing some mystery from a subject most small business people, and especially rural small biz people don’t know much about it.
UPDATE: Here’s the link to Terry’s updated website.
- Downtown is your town’s core: How to make your case - February 22, 2021
- Zoom Towns: attracting and supporting remote workers in rural small towns - December 10, 2020
- In an economic crisis, spend your brainpower before your dollars - November 25, 2020
- Video: How to fill empty car dealership buildings for the holidays - November 6, 2020
- How has 2020 changed the challenges rural small towns face? Tell us here - October 20, 2020
- The Idea Friendly Method to surviving a business crisis - October 6, 2020
- Join me for the Rural Renewal Symposium online Oct 13 - September 26, 2020
- Cheap placemaking idea: instant murals - September 11, 2020
- Refilling the rural business pipeline - July 7, 2020
- Huge vacant buildings: grants to renovate? - June 9, 2020
Hi Becky –
Well, I am flattered! I was browsing through your blog and found that my little company is in one of your posts.
Have an excellent day (you made mine)
–Marco