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.
- How cooperatives improve small town economies - May 8, 2022
- Metaverse business idea: virtual world tour guide - April 15, 2022
- Make extra money from extra workspace: co-working and 3rd workplaces in small towns - March 28, 2022
- Trade show booth design trend: hand drawn visuals - March 21, 2022
- New business sign design? Don’t use cursive script - February 14, 2022
- Way more people prefer rural than urban, new Pew Research study finds - February 1, 2022
- Top 5 Rural and small town trends 2022 - January 3, 2022
- How to start a real small small business - December 17, 2021
- Tip for better pop-ups and shed businesses - December 5, 2021
- Small town business idea: cat grooming - November 15, 2021
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