Small Business Trends is now providing content services to other websites. One of the sites at which we contribute is a small business finance blog over at Facteon.
Facteon is a factoring service for small businesses. What that means is that if a small business is owed a decent-sized invoice (typically US$25,000 and up), but needs money for, say, payroll and can’t afford to wait 60 days until the invoice is paid (because we all know employees won’t wait that long for their checks), the owner can “sell” or factor the invoice to a company like Facteon. Facteon will advance the invoice amount, less its fee of course.
My role in the site is to help de-mystify the factoring process and provide sources of reliable information about factoring.
I write under my byline to add to the posts of the CEO of Facteon, who also will be blogging.
Some of you know that I was a banker… back in the day. So I feel comfortable writing about financial matters for small business.
You’ll find a truly-astonishing number of spam sites about factoring out on the Web. The Facteon blog is not like that. Rather, it offers on-point information from only the most credible sources. Kudos to Facteon’s management for not taking the spam way out, but instead charting a highly-credible approach.
(My acknowledgement goes to Paul Chaney at Radiant Marketing Group who enlisted our services on this project.)