By Midland American Capital
Commercial factoring is a quick way to turn business receivables into cash. In an typical scenario a business owner will most likely have to wait between 30 to 90 days for invoices to be paid. A commercial factoring company will examine a business’ customers’ credit and may offer to pay that business the majority of what’s owed on the invoice in a short amount of time. Factoring can be a great way to build a business, because it allows a business to bring in cash quicker and put that cash to work quicker.
Additionally, some factoring companies may offer consultation and business growth services to supplement their primary factoring services.
At Midland American, we believe that factoring can be a much better way for many businesses to grow, as factoring can provide cash far quicker than a traditional bank loan.
A judge was merciful on Yelp, again. A class action lawsuit that alleged that Yelp was trying to extort small businesses by promising to remove negative reviews in exchange for money was recently thrown out. The case began with a business that claimed that Yelp’s salesteam said it would delete a “false and defamatory review” only if the business purchased advertising at about $300 per month. This is not Yelp’s first time being accused of wrongdoing, and many feel it won’t be the last.
SAP subsidiary, TomorrowNow, will plead guilty to 12 criminal charges in a U.S. Department of Justice copyright case in U.S. District Court of Northern California. TomorrowNow illegally downloaded software from Oracle’s servers. The penalty SAP faces is not certain so far. ”The United States will lodge an under-seal copy of the proposed plea agreement with the Court separately,” according to documents filed in the U.S. District Court of Northern California. Sentencing will take place at a hearing on September 14th of this year.
Many of Countrywide’s former borrowers will receive somewhere between $500 to $5000 for the settlement. The company, now owned by Bank of America, is responsible for overcharging 450,000 customers.