Commercial financing, like invoice factoring, regularly requires the owner of the company to sign a personal guarantee waiver. For a factoring company, using a personal guarantee is not a preferred method of repayment. From the factors standpoint, it is seen as a deterrent to fraudulent behavior.When factoring invoices the turnaround on repayment is normally 30 - 45 days. The process of recapturing funds from an advance by going after the owner personally could take a couple years by the time it goes to court and a judgment is rendered. It simply takes too long to be considered a [...]
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[Source: The Money Blogs]
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