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HI all
We are very new to GP and have a question about how to handle factoring companies? This is very common in the transport industry
Do you use credit card payment? National accounts? We need this for Customer as well as Vendor.
Any suggestions would be appreciated.
Thanks,
Karen
Hi Karen,
This (old) blog post might help: dynamicsgpblogster.blogspot.com/.../asset-base-lending-and-receivables.html
National Accounts seems to be the way to go in GP..
The domestic factoring division offers to fund businesses in India. The export division provides funding to businesses that export goods from India. The branch network offers to finance to businesses in India that have branches in other countries.
Domestic factoring is a type of financing that allows businesses to sell their receivables to a factoring company at a discount. This type of financing is popular among small businesses that have difficulty obtaining traditional bank loans.
If you’re looking for a place to start your search, consider these factoring companies:
AltLINE
Best for: General small businesses
AltLINE works with a variety of small businesses, including startups and those with less-than-perfect credit histories.
India Factoring
It is a financial institution that offers supply chain finance to businesses. It has a domestic factoring division and an export
factoring division
FundThrough
Best for: Factoring invoices using accounting/invoicing software
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