Starting a business is tough. Growing one is tougher. There are so many things you have to worry about: from hiring the right people to sweating out a slow-paying client. Here are some familiar refrains we’ve heard from small businesses, and how we’ve been able to send them on their way, whistling a happier tune.
Like many college-bound students, Wood Kaufman had no idea what he wanted to do when he got out of high school. He selected his major for its practicality. He thought studying finance at the University of Arkansas would actually land him a real job – and it did with Bear Stearns in Dallas.
Little did he know that one day he’d be using that finance degree to help others chase their entrepreneurial dreams.
Bryan Riordan* is having a bad day. He has been a small business banker for most of his career. Came up through the ranks at a time when a handshake was as good as a signed contract.
Banking has changed a lot since he joined the industry more than 30 years ago, and not all of it for the better, in his opinion. He doesn’t have nearly as much discretion in to whom he can lend. And the hoops he has to jump through to keep the regulators happy. Sometimes it feels as if he works for the regulators, not the bank, or its customers.
Today is one of those days.
For business owners, the promise of getting working capital without taking on debt or giving up equity may sound too good to be true. But the promise is real, and it can be realized with the simplest of transactions.
Is the cash your small business needs “locked away” in invoices for 30, 60 or 90 days?
Waiting for payment isn’t just an inconvenience. It can shut you down.
Invoice factoring can unlock your cash, converting invoices to working capital in an instant. Especially for small business owners, it can be a financial vehicle that allows you not just to survive, but thrive.