Factoring is one thing you would possibly contemplate when financing a start-up if you have already got some clients and cash move coming in. With factoring, you’re leveraging your outstanding accounts receivable to borrow money for your small business. A business line of credit might be simpler to get approved for however it works a little in a different way than a mortgage. With a mortgage, you’re getting a lump sum of money that you have to use to fund your corporation. You then repay the loan based on the reimbursement schedule set by the lender.
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