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An Invoice Factoring Affirmation: Bankaholic.com Tells Companies It Is A Mistake To See Banks As The

An Invoice Factoring Affirmation: Bankaholic.com Tells Companies It Is A Mistake To See Banks As The .

In a country where everyone seems to be addicted to debt, a positive change in perspective has been demonstrated on the financial web, site Bankaholic.com. Founded by John Wu, who turned a project from his student days at the University of California at Berkeley into a rapidly growing business, the site has about 750,000 visitors every month. It helps guide consumers and companies by presenting them with a variety of financing options.


One of the positive alternatives that Wu has backed is invoice factoring and accounts receivables financing with companies like PMF Bancorp.
Founder and Entrepeneur John W


u has seen that both consumers and companies are focusing more and more on finding savings accounts and certificates of deposit as opposed to the old avenues of credit. But the banks still need to provide credit and loan money. As a result, they have significantly boosted their ad spending on the site. “Banks really need depositors to put money in them,” Wu said. “They’re desperate to get more money.”

However, the banks are not passing forward lower money costs made possible by the Federal Reserve cuts along to either consumers or businesses. Wu clearly points out that the interest rates on credit cards have dropped modestly at best, and 30-year mortgage rates have not declined substantially. “People have been expecting that credit card rates would come down. But because there’s greater risk now in lending, credit card companies have been raising their rates a little bit as the Fed has been cutting,” Wu commented in the Washington Post.


As a viable alternative for companies experiencing a cash crunch, Wu recommends invoice factoring and accounts receivables financing with companies like PMF Bancorp. He clearly reminds his business readers and company financial officers that they can factor their invoices without taking on any more debt. As a result, they both solve the cash crunch problem and keep the cash flow moving forward without taking on the burden of more debt at exorbitant interest rates.

PMF Bancorp appreciates the independent support of such financial sites like Bankoholic.com. If you want to learn more about our one-stop shop of excellent financial services and reasonable financing options, please contact us today. As John Wu pointed out, invoice factoring and accounts receivables financing could be the viable answer your company needs to remain productive and profitable.



 
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