Traditional Lines of Business Credit are Elusive--Unless You’re Factoring

Traditional Lines of Business Credit are Elusive--Unless You’re Factoring

By SEO Factor

It might just be the worst lending climate in the past two decades. Banks are refusing to renew lines of credit and they’re calling in loans. Decades-old family businesses that are current on payments get no preferential treatment--and new businesses get even less. Those who rely on mortgage financing aren’t doing any better. In fact, thousands of business owners--many of them young and minority entrepreneurs--suddenly have no place to turn for capital. Business lines of credit have been rescinded or refused, leaving businesses without the financing they need to expand or even to remain solvent. Can factoring be the proverbial light at the end of the tunnel?
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