Looking to be attractive to a factoring company?
Start selling to creditworthy customers. Are you currently doing credit checks on your customers (on an ongoing basis)? There’s an old saying that goes, “anyone with no credit will buy anything on credit.” It’s easy to sell to a company on credit that has none. Roll up your sleeves and go after larger, better customers.
Then keep selling. Don’t stop with one large customer. Another old saying goes, “don’t put all your eggs in one basket.” Too many invoices payable by one customer is called CONCENTRATION in the business. Something happens to the one customer and… you get the picture.
Selling to a variety of creditworthy customers will have you not only attracting funding, but it’s also good for business.