Manufacturing factoring differs from bank loans in several ways:
- Faster approval: Factoring approvals take just a few days, while bank loans may take weeks.
- No collateral required: Factoring relies on your invoices, not your assets.
- Credit focus: Your customers’ creditworthiness is assessed, not your business’s credit score.
- Flexible funding: The amount you receive grows as your sales increase, unlike fixed loan amounts.
