History of Factoring

Understanding Invoice Factoring and how it works can change the path of your small Business.  Factoring has been practiced for centuries.  The Romans sold promissory notes at a discount as did the Phoenicians.  The word "factor" comes from Latin, the language of Rome.  It means "to do" or "to make."   The Pilgrims journeys to America were financed by advances from a Factor who provided the funds to pay for the journey.  The Pilgrims repaid the money with earnings from America.  Factoring to this day is an extremely common business practice in Europe whereas many American business men have never heard of it. This year alone thousands of businesses will Factor billions of dollars in accounts receivable, and they are doing it for profit, growth, and in some cases, their very survival