Looking to be attractive to a factoring company?
Start selling to creditworthy commercial 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 when they know they have none. Roll up your sleeves and go after larger, better customers.
And then keep selling. Don’t stop with one large customer. Lenders have a word for too many invoices payable by one customer – concentration. If something should happen to your one customer it could throw the whole relationship into default.
Selling to a variety of creditworthy customers will have you not only attracting funding, but it’s also good for business.