In this video, Jacqueline explains what factoring is. Factoring is financing based on your debtors. If it takes too long before you receive your money, you can apply for financing. When is factoring suitable for you as an entrepreneur? In any case if your debtor portfolio increases or if you may have unknown debtors. Factoring companies check whether the debtors are also good for their money. You can therefore get paid earlier by factoring. Suppose you have a 30-day payment term, but you need the money earlier, you can go to such a factor company. If the invoice is accepted, you can have your money the same day.
A good example of such a factoring company is Voldaan. If you submit your invoice to them before 14 pm, you will receive all your money the same day. Please note, because all forms of short-term financing have a higher price tag than long-term financing. But it can be a nice solution when you need money a little faster. If you want to know more about alternative financing, please contact us or visit www.factuurvoldaan.nl.