Continue reading as we take a look at the changes in factoring that have taken place.
The Effect of the COVID-19 Pandemic on Factoring’s Popularity
As mentioned above, many businesses have been hit hard by the economic effects of the COVID-19 pandemic. The impacts have been far-reaching, disrupting almost all sectors.
As a result, many operations have been utilizing financing solutions to ease cash flow restrictions.
Factoring has been a staple cash flow financing option across many industries for millennia. How factoring works has also rendered it a go-to solution during the pandemic. The principle of increasing cash flow based on current assets has made factoring a prime fit for pandemic-spurred business conditions.
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