Question
A small business owner is facing a cash flow crunch due
to delayed payments from customers. The business owner has a significant amount of outstanding invoices and needs immediate access to funds to cover operational expenses. Which financing option would be the most appropriate for this business owner to quickly convert their receivables into cash?Solution
Factoring involves selling accounts receivable (invoices) to a third-party financial institution (factor) at a discount, providing the business owner with immediate cash flow.
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