Solving tax issues with invoice factoring business finance
Recently I have had a number of enquiries from small businesses which have had some large tax bills or owe a lot of money to suppliers. The most common problem I notice is the business has no real estate or other traditional assets to borrow money from the bank, not that the bank would look favourably at someone who has a tax issue or blemishes on their credit from suppliers chasing payments.
I often work with businesses that are struggling to pay off the tax office that have not realised that if they have receivables (invoices) outstanding these can be used easily through factoring to release immediate funds to pay off bills and taxes.
“invoice factoring can help a company solve its cash flow problems and continue to grow.”