How Factoring Works Common Misunderstandings About Factoring The Cost of Factoring Who Can Qualify For Factoring?

What kind of credit do I need to be eligible for factoring services?

In many cases,  even companies with less than stellar credit can qualify for factoring. 

With factoring, clients are approved in large part based on their customer or debtor's ability to pay. 

In other words, the factoring company is not just looking for them to be qualified enough to pay those invoices, rather they need them to be qualified enough that they're not going to go out of business tomorrow and stop working on the project so the factor doesn't get paid by the customer. That's it. 

Other than that, factors look at the debtor's qualifications and usually that's exactly what small businesses need.  They need someone to take over those invoices so they can get paid and somebody else can wait for the payment.

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