Are the new California disclosure laws making financing options hard to come by for your company? Read this post to learn more.
California lawmakers have imposed new laws on open disclosures for financing companies and they are, unfortunately, harming the factoring industry.
Some factoring companies have decided to stop doing business in California to avoid these regulations.
California-based customers have been left confused, upset, and without a factor to provide their business cashflow.
What can you do?
- Don’t Give Up: If your factoring company has refused to do business with you, the worst thing you can do is lose hope.
- Understand the Regulations: The new disclosure regulations are difficult to adhere to, which is why factoring companies are shying away from the state. To gain a better understanding of why, read more about it here.
- Reach Out: Factor Finders has connections to factoring companies across the country willing to do business in California. Contact us today to find a new funder for your business!
Factor Finders understands that factoring is a useful tool for the trucking industry because of the cashflow gaps they face. Late invoice payments can pose challenges resulting in a lack of maintenance on trucks, unsatisfied employees, and other operational inefficiencies. These make operating efficiently in the trucking industry difficult and factoring a major help to ease your troubles.
If you’re a customer left stranded due to these new regulations, Factor Finders has your back. We have connections who will get your business the cashflow necessary to keep your operation running smoothly.
We understand the challenges that inconsistent payments can bring to any business, small or large, and how factoring can ensure security. Save yourself the trouble of searching for a factoring company in California and leave it to us. We are for you.