University of La Verne SBDC Small Biz Blog

By Joshua Botello Transcript: In this video, I’ll show how to keep your business running using Factoring.  I'm Josh from the University of La Verne Small Business Development Center. Here at the SBDC, we provide small business owners with free one on one consulting and business tip videos just like this one. So if you are new here, consider subscribing to our channel. Introduction If you are a business owner who extends terms for your customers to pay later, then you may have run into times where you run low on money to keep the business going. If you need cash quickly to run the business but are still waiting on your customers to pay their invoices, then a factor may be the one to help you out. In this video, I’ll explain what a factor is, how factoring works and the benefits of using a Factor. What is a Factor? So what is a factor? A factor is an intermediary lender who provides your business with working capital in order to keep it running.  The factor provides a short-term loan

by Joshua Botello Picking a professional service provider like a lawyer, accountant, marketer, or IT service is such a confusing task. I mean they're all good, right? Not so fast! Picking the right professional for your business is similar to picking a partner for your business. Since you are going to be spending a lot of money on these services you want to make the right decision the first time. Your search may sound daunting but if you break it into these four steps, the process couldn't be easier. So let’s take a look at the 4 simple steps to pick your professional service provider. Start Your Search The first step to picking the right service provider is starting your search. Don’t know anybody? Check with friends and family first. These are the people who are closest to you and whose opinion you will trust most. Check with those who are business owners themselves, as those will be the ones who have similar needs to your own.  The next place to search is your local Chamber