Marine Factoring/Financing Explained.
Marine Factoring involves converting a company’s unpaid invoices into immediate cash which the company can then use in any legal way it chooses.
Business owners work with a Factoring Company (Factor) to ensure that they have the necessary cash flow to keep their business running easy and more efficiently.
Invoice Financing is a form of Revolving Business Loan or Business Line of Credit. Businesses can borrow money from a lender with the funds being secured and based on the value of one or more of their outstanding company invoices.