Interview 4

Accounts receivable factoring can help fund your new business and keep it strong as you prosper.

Here, Gage Price, head of factoring company MP Star Financial, resumes his November 1, 2005 interview with the “Capitalist Cleveland” radio program. Please read on to learn how factoring loans can strengthen your young company, or help your established firm achieve new heights previously thought to be impossible.

Need to jump-start your start-up? Factoring loans are the key to a solid beginning.

Host: “What’s the smallest loan you’ve made? What’s the largest?”

Gage explains: “Over the years our factoring company has dealt with start-ups. Sometimes we’re factoring a company’s first receivable. I have a client who’s since moved his location, but I can remember factoring his first receivable. His company was just awarded the Entrepreneur of the Year Award, and it’s a $6 to $7 million dollar-a-year company. We’ve gone from factoring his first invoice to basically doing spot factoring for him. We will work with people all the way from start-up to $3 or $4 million dollars outstanding.”

Accounts receivable factoring helps healthy firms without a collateral base maintain great cash flow.

Host: “When companies become a fully established organization, do they tend to stay with accounts receivable factoring as a means of financing because they like it, or do they lean towards other funding methods?”

Gage: “It depends on the basics of their business. A lot of times bigger companies with $5, $10, $15 million a year still don’t have the collateral base banks are looking for. Service companies are a good example. On day one, they may own a computer and some desks and rent their space. Years later, they may have more equipment, but what they’re providing is a service. Their real collateral, their real assets are receivables. There are a lot of big companies that use accounts receivable factoring.”

Factoring loans increase your company’s access to cash, from start-up and beyond.

No matter where your company is in its growth cycle, a factoring company like MP Star Financial can get money in your hands when banks won’t. Gage Price tells you how to get started turning your receivables into cash in part 5 of this factoring loans interview.

Request a quote for a custom accounts receivable factoring program for your growing business, or complete our online application today. Questions? Call (800) 833-3765 ext. 50 today or email us.

Go to part 1 factoring loans introduction.
Go to part 2: the concept of accounts receivable factoring.
Go to part 3: history of factoring loans.

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