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In a Politico.com opinion piece titled, “Financing for small businesses is fuel for economy,” the authors suggest that small businesses are essential to new job creation and “employ half of the privatesector workforce.” With small businesses playing such a key role in the economy, it’s no wonder politicians regularly argue the best ways to support entrepreneurs; but what is truly necessary to be successful? While ingenuity and a terrific business plan are critical, access to stable cash flow is also essential to getting a business up and running and ensuring it continues to grow. And, as the Politico.com authors suggest, access to such funding is not always easy to obtain—approximately a quarter of small businesses feel uncertain about their financial future. Rioux Capital, an assetbased lender serving markets in Austin and Houston, Texas, is dedicated to filling this pivotal role in the life of a small business. Rioux Capital offers a variety of ways to support small businesses, including Factoring. Factoring is basically a cash advance; a small business sells its invoices at a discount to a lender, such as Rioux Capital. The lender advances 90% of the amount due to the company, so the lender is the one waiting to get paid—not the small business. With such immediate access to cash, the small business can meet payroll and other financial obligations. Once the customer pays its invoice, Rioux Capital pays the company less the advance and discount fee. Such innovative lending options are essential to repairing our economy and providing security to small businesses. Many entrepreneurs may be hesitant to expand their businesses if options such as factoring are not available to them. To find out more about how Rioux Capital can support your small business through Factoring, or other assetbased lending options, please visitus at www.riouxcapital.com.
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