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Industrial Revolution Focuses on Invoice Factoring
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The era known as the Industrial Revolution was a time in its 4,000 year old history when factoring became more focused on the issue of credit, as factors guaranteed payment for their "approved" customers. During the 1930's in the U.S., factoring occurred primarily for the textile and garment industries. After the war, factoring expanded.
Private factors became popular during the 60's and 70's - when interest rates rose. This just intensified in the 80's due to the increasing impact of interest rates and banking industry changes. Small businesses were forced to find other sources of financing for expansion and growth so factoring became and still is a popular option.
Businesses who use innovative approaches like accounts receivable factoring for profit and growth, will survive.
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