Monthly Archives: March 2014

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Discount Factoring With Tax Liens

Looking for Small Business Financing is not getting any easier for sure. Some of us remember the days when you went in to speak to your local bank manager to get a loan from your bank and they based their approval on you and your dealings with them. This is just not the way it happens any more. This is a major reason why Discount Factoring is becoming so popular today.

To make it even worse, if you have tax arrears or other problems with the IRS or CRA, the banks will not even talk with you. With all that has been happening in our economy over the last couple of years, what is the Small Business owner to do?

Recently a business in New Mexico USA ran into a situation very similar to this where they needed a Discount Factoring facility to cover some tax arrears. The bank would not even return their call once they found out about the tax lien. The company had been having problems with their commercial customers not paying their invoices that were due in 30 day until day 75 on average. They needed financing to fix the payment gap.

With the IRS being involved it was not a simple deal to get funded. You need to understand that the implications of the IRS involvement with the file will slow things down, but at the end of the day Discount Factoring be done.

The procedure essentially requires a proposal to be done to the government which includes a plan to pay them the funds they are due along with a plan of how to get things back on track, and introducing a finance company to do management of the Accounts Receivable is looked upon very favorably. This plan is very similar to the one President Obama rolled out for the suppliers of the Auto Industry in Detroit Michigan.

Next question then becomes who will handle the process to the government? If you have a Commercial Finance Broker, they will handle it.

And since they will have been down this road many times, the process will go smoother. The Professional Commercial Finance Broker will handle the negotiations with the IRS or CRA on your behalf and assemble all the required documents for the process.

So if your company needs additional Cashflow with Discount Factoring, and whether you are having issues with the IRS or CRA or not, speak to your Commercial Factoring Broker about your options.

Wade Henderson – recognized Professional – 15 yrs in the Business Finance Field – strong reputation for getting the deal done.
IMMFinancial.com – Invoice Factoring – Line of Credit.

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