Factoring has a long and rich tradition,
dating back 4,000 years to the days of Hammurabi. Hammurabi was the king of Mesopotamia,
which gets credit as the "cradle of civilization."
In addition to many other things, the
Mesopotamians first developed writing,
put structure into business code and
government regulation, and came up
with the concept of factoring.

After a while, Hammurabi and the Mesopotamians
went the way of extinct civilizations,
but factoring endured. Almost every civilization that valued commerce has practiced some form of factoring, including the Romans who were the first to sell actual promissory note at a discount.
invoice factoring  and account receivable factoring   services
The first widespread, documented use of factoring occurred in the American colonies before the revolution. During this time, cotton, furs and timber were shipped from the colonies. Merchant bankers in London and other parts of Europe advanced funds to the colonists for these raw materials, before they reached the continent. This enabled the colonists to continue to harvest their new land, free from the burden of waiting to be paid by their European customers.

Recognize that these were not banking relationships as they exist today. If the colonists had been forced to use modern banking services in eighteenth century England, the process would have been much slower. The banks would have waited to collect from the European buyers of the raw materials before paying the seller of these goods, the colonists. (And at that point, who needed the bank?) This was not practical for anyone involved. So, just as today, the "factors" of colonial times made advances against the accounts receivable of clients, enabling the clients to continue with their operations, long before they had been paid for what they were sold

"You have always provided
  service above and beyond any other
  company I have dealt with. Our account
  manager gives us 100% and is only
  one of the reasons we have
  chosen to stay with you."
   - Leroy , V.P.  Security Services Company

Is a Factoring Company For You?

The key to knowing if factoring is
for you is to not to look only at the
bottom-line factoring fee,
but also to consider how your company
may increase it's profits through factoring.

Here is additional information on factoring company
to help you with your decision.

How are factoring company fees
and advance rates determined?
It is based on several factors:
The creditworthiness of your clients
Your monthly billing volume
Average invoice size
Average days to payment
Fees can range from 2-5 % of
the invoice's face value.
For example if the invoice's value
is $1,000; a fee of 3% equals $30

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