FACTOR KING, LLC BBB Business Review
Chat with a Factoring Specialist.

Quick Contact Form

You have questions? We have Answers!
Chat
with a live representative;   Call toll free: 888-919-7770;  fill out our Apply Now form or fill out our Quick Contact Form below:














Message:


Please answer the following question to help us prevent spam from getting sent to our inbox:
5 + 5 =

Thursday
Dec192013

3 Holiday Retail Marketing Success Stories

Here are three retailers who ran effective holiday marketing that resulted in high volume sales - these retailers got it right this holiday season.

Click to read more ...

Thursday
Dec122013

Startup Capital: What You Should Know About Government Business Grants

This article is part four of the Factor King® blog series “Startup Capital: Sources of New Business Funding” which explores the most common financing options for a business in need of startup capital, expansion capital, or short-term cash flow. If you’re considering obtaining a government grant for your small business, there a few things you should know before starting the grant application process:

Click to read more ...

Thursday
Dec052013

In the News: Top Stories in Business and Finance - November 2013

November Edition: Factor King offers this quick monthly rollup of important stories related to business and finance. We also track leading economic indicators each month giving you a quick snapshot of the status of the economy.

Click to read more ...

Thursday
Nov212013

5 Strategies for Building a Strong Personal Brand Online

Personal brand has become the latest buzz word for entrepreneurs, small business owners, and company executives, due to the rise in the number of social media profiles, blogs, and online personas. The following five strategies will help you to successfully brand yourself online so that you maintain a professional reputation and continue to experience success in business.

Click to read more ...

Thursday
Nov142013

Startup Capital: Pros and Cons of Venture Capital and Private Equity

Typically provided in early stage startup companies, venture capital or private equity comes from an investment group or angel investors interested in having ownership interest in exchange for the funds given. The following are the pros and cons to accepting this type of business funding.

Click to read more ...

Wednesday
Nov062013

8 Mobile Apps for Small Business

Small business owners understand the importance of time management.  Technology is making it easier than ever to manage work flow especially as a small business with limited resources. The following is a list of our favorite eight mobile apps for business professionals:

  1. Quickbooks Online App: Stay productive, organized, and connected to QuickBooks Online, the #1 cloud accounting solution for small businesses! Enjoy full access to all features on the web, plus the freedom to work anywhere from your smartphone or tablet.
  2. DropBox: Dropbox is a free service that lets you bring your photos, docs, and videos anywhere and share them easily. Never email yourself a file again!
  3. Evernote: Evernote is an easy-to-use, free app that helps you remember everything across all of the devices you use. Stay organized, save your ideas and improve productivity. Evernote lets you take notes, capture photos, create to-do lists, record voice reminders--and makes these notes completely searchable, whether you are at home, at work, or on the go.
  4. Basecamp: The official app for Basecamp, the world's #1 project management app. Basecamp keeps all your projects, people, and data all in one place. no matter how many projects you have or how many people you have working on them, Basecamp keeps everything organized.
  5. Speek: Make super simple, free and visual conference calls. Choose an easy-to-remember username for your calls, instead of fumbling for a traditional phone number and PIN.
  6. Pulse: Pulse is an elegant newsreader that brings all your favorite sources to one streamlined interface. Winner of the Apple Design Award, Pulse allows you to experience your go-to blogs, newspapers, social networks, magazines, and more in a fresh and fun new way.
  7. Sprout Social: A social media profile management platform, Sprout Social allows you to create an exceptional brand experience across networks. Sprout's collaborative environment ensures smarter, faster and more efficient social communications. You will need to have an active Sprout Social account to use this application.
  8. Docusign Ink: Sign documents and get signatures quickly and easily from your mobile device. A must-have app that will save you time and eliminate the need to print, fax or mail documents and forms for signature.


------------
About FACTOR KING®
Factor King is a direct financial service provider that specializes in the Factoring of invoice receivables for companies that maintain commercial accounts receivables. We can manage your record keeping and offer fast processing of accounts receivable payments.  Apply now to convert your company’s assets into immediate cash!

Thursday
Oct312013

In the News: Top Stories in Business and Finance for October 2013

Factor King® offers this quick monthly rollup of the most important stories related to business and finance. Here are the top business & finance stories for October 2013.

Click to read more ...

Wednesday
Oct232013

Startup Capital: Small Business Bank Loans

One of the most common sources of business financing are traditional bank loans. The following are pros and cons to getting a small business loan from a lending institution.

Click to read more ...

Wednesday
Oct092013

5 Tips for Managing Invoiced Receivables

Invoiced accounts receivables are often the first place to look to improve cash flow. The following tips will ensure proper management of accounts receivables so that you can continue to build and grow your business.

Click to read more ...

Wednesday
Oct022013

In the News: Top Stories in Business and Finance for September 2013

Factor King offers this quick monthly rollup of the most important stories related to business and finance. These are the top stories in business and finance for September 2013.

Click to read more ...

Thursday
Sep192013

Startup Capital: Sources of New Business Funding

Sufficient startup capital is key to the success of a new business. Whether you borrow from family and friends for a small business with minimal startup costs or seek venture capital and business bank loans for a large organization, it’s important to have a plan to pay it back before starting the application process.

According to Frank Skelly of Factor King®, a New York based finance company, ”In today’s economy, it’s more important than ever for small businesses to manage their cash flow effectively to ensure their short term debt doesn’t outgrow their receivables. This includes having a comprehensive business plan that outlines how to manage their growth”.

There are many options available to businesses seeking a capital infusion to get off the ground. In this series of articles, we explore sources of new business capital and important considerations for each.

Sources of New Business Capital

  • Traditional Bank Business Loans: Business loans from a lending institution are given as a lump sum to be paid back in regular installments including interest or as a line of credit to be used as needed.
  • Venture Capital and Private Equity: Typically provided in early stage startup companies, private equity typically comes from an investment group interested in having ownership interest in exchange for the funds given.
  • Factoring: A financial transaction whereby a business sells its accounts receivable to a third party at a discount, factoring often results in immediate cash to be used as needed.
  • Government Programs: Through the Small Business Administration, some businesses can receive expanded access to capital through federally-funded programs that support high-growth startups.
  • Loan from Friends or Relatives: A loan from family or friends, these loans are often paid back at a a reduced interest rate, interest-free or are in exchange for ownership interest in the business.


Stay tuned for next week’s article about traditional bank business loans in this series of posts dedicated to start-up capital!

Available Articles: Startup Capital: Small Business Bank Loans

------------
About FACTOR KING®
Did you know that Factor King® offers a quick and easy way to get cash for your business? Factor King is a direct financial service provider that specializes in the Factoring of invoice receivables for companies that maintain commercial accounts receivables. Simply put, the only criteria is that your receivables be from other businesses - no lengthy application process, no changes to your business operations, and no risks to personal relationships. Apply now to convert your company’s assets into immediate cash!

Friday
Sep062013

IRS Sets Its Sights on Small Businesses

The IRS recently implemented a campaign to target small businesses scrutinizing at least 20,000 small business tax returns under the guise that these businesses may not be accurately reporting their cash sales. Small businesses will now need to be even more vigilant with their accounting methods in order to ensure compliance and that they retain the maximum tax benefits allowable.

Click to read more ...

Sunday
Aug252013

Tax Reform Proposal & What It Means for Small Business

In order to ensure small business success in America, President Barack Obama has recently proposed new tax reform aimed at boosting the small business bottom line. However this new tax reform proposal may not be a “better bargain” for small businesses.

Click to read more ...

Friday
Apr262013

The 4 Best Business Tips You'll Ever Receive 

We are business owners, and so too are our clients as well as many of our friends and associates. So, we first sat down and devised a list of the best business tips we could think of. Then we asked around a bit, and eventually came up with a comprehensive list. We then refined the list, limiting it to only the ones that would have the greatest impact on your business. We hope they help, and please feel free to comment and suggest any we may have missed.

Click to read more ...

Friday
Apr192013

WIMPY'S FINANCES

For those who remember the corpulent character J. Wellington Wimpy or better known as just “Wimpy,” who appeared in the popular and long-running cartoon, Popeye the Sailor, they may also recall that Wimpy was always short on cash.

In fact, perhaps Wimpy’s most memorable statement was the classic, “I’d gladly pay you Tuesday for a hamburger today.” Well, if Wimpy had been savvy enough to enlist the services of a factor, such as the experienced financial experts at Factor King, he not only would have had his hamburger immediately but he also wouldn’t have to pay for it on Tuesday or any other day.

That’s because with factoring, also known as Accounts Receivable Financing, a company sells its accounts receivable to the factor at a discount and in return gets quick cash that the company can use for a variety of things from covering payroll and paying vendors to purchasing new equipment to help facilitate growth and expansion plans.

Plus, unlike a traditional small business loan, with factoring there is no accrual of debt.

In addition, factoring allows business owners to keep control of their company and gives them the ability to grow at their own pace. Smart business owners will also use the surplus cash for speedy-pay discounts from suppliers. For many businesses, factoring can be an effective long term cash flow management solution and not just a quick fix.

So, if your company has a voracious appetite, just like Wimpy, get your hamburger today. Factor Kings’ experienced staff will make sure you don’t go hungry. Call toll-free at 888-919-7770 or visit www.factorking.com.

 

 

 

Friday
Mar292013

Bigger isn’t always better. Microfinancing is helping businesses grow

There was a time, not too long ago, when raising cash through venture capitalists was the way to go. But, in the last few years more small business owners have been taking a road less-travelled to funding: Microfinancing.

Although the numbers vary by lender, most microloans are under $25,000. According to a recent report in Entrepreneur Magazine, non-bank lenders such as Accion USA and the San Francisco Bay Area’s Opportunity Fund provide loans that average just $7,000. And, even more surprising is that these same lenders say that the businesses they lend to have a survival rate that’s more than twice the national average with repayment rates being about equal to traditional banks.

In part, micro lending as a practice has been growing as many banks continue to struggle to serve the needs of small business owners.

Experts in microfinancing believe that borrowers do better than owners who've gone the route of traditional banks or credit cards due to a variety of reasons including more thorough screening, where Micro lenders take care to better know business owners personally, a practice that is not generally employed by traditional banks.

In addition, microloans are often made in a group setting where business owners support each other and are also financially accountable for each other’s loans.

Moreover, smaller-scale loans help entrepreneurs stay focused on their business and less likely to get caught-up in over-expansion.

For those small business owners interested in giving microfinancing a shot, here are some great ways to help get started:

SBA’s Microloan ProgramThe SBA provides small, short-term loans available to small businesses and certain types of nonprofit organizations through specially designated intermediary lenders. The intermediary lenders make loans to eligible borrowers where the maximum amount is $50,000 but most microloans average about $13,000. Terms vary but most SBA microloans can be used for working capital, to purchase inventory or supplies, furniture or fixtures and machinery or other equipment.

Accion USA—Accion is a leader in U.S. microfinance and has been in existence since 1991. The company is committed to helping microentrepreneurs secure affordable small business loans. They lend with the mission of empowering small business owners by providing access to working capital and financial education.

 

Opportunity Fund--Opportunity Fund, based primarily in California, is a not-for-profit social enterprise that has helped scores of families build financial stability. The organization brings together microloans for small businesses, microsavings accounts, and community real estate financing.

However, microfinancing does have its limitations such as generally smaller loan sizes and certain restrictions on the types of activities that capital can be used for. For example, the SBA stipulates that its microloans can not be used to pay down existing debt.

So, still other small businesses might benefit from less restrictive ways of raising capital, such as short-term loans or factoring.

 

Friday
Feb222013

Your Company's Own Personal Debt Ceiling. It All Starts With Spending Cuts.

Have you devised a true, long-term strategy to ease your company's debt centered around spending? If not, maybe it's time.

Click to read more ...

Friday
Jan252013

Treasury Department Begins Spreading Funds To Local Lenders. Will You Benefit?

The Small Business Lending Fund… is a government fund designed to funnel $30 billion from the Troubled Asset Relief Program (TARP) to community and smaller banks to support small business lending.

Click to read more ...

Friday
Dec282012

Will Capital Ever Again Flow Free For Small Business?

Banks really haven't loosened up all that much, it would appear. And we can't really blame them, I suppose. They are, after all, in business to make money--and in business to stay in business. With the future of global business still standing with one foot in the graveyard, banks can't loosen the reigns just yet.

Click to read more ...

Friday
Nov162012

Small Business Credit Cards: Procede With Caution

Approximately 70% of small businesses in the U.S. use credit cards to pay expenses. Of those, almost half use cards for ALL expenses. If you're using a credit card for your company, there are many things to consider.

Click to read more ...