How do we get involved in Purchase Order financing or invoice factoring for providing funds to businesses, is there a crowdfunding way for this now or what is the scope to start one.
Pooler and Pooler have rightly defined purchasing as, “The job of purchasing continues to receive increased recognition as a vital management function”. Considering this definition, after a factoring firm buys either the purchase orders or the invoices, they will then collect on them. All money is then returned to the original purchase or invoice owner. The factoring companies will receive a fee that is predetermined and agreed upon by both parties.
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Does your business plan include offering other financing options to potential clients as well? You may consider connecting with the Commercial Capital Training Group. They are a like e-Harmony.com for lending alternatives and offer money factoring services. You can license through them to access that library of opportunities to help finance with this method for a client. But doing this has a price, and the offer of service includes additional financing platforms too. I would be happy to discuss this with you as I have a contact in the space and can connect you.