Slow paying clients are often a problem for small and mid-sized businesses. Waiting 30 to 45 days for payment after delivering products or services is common, especially when the customers are large companies. They are able to leverage their size to stretch their cash-flow in this way.
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For small businesses with some cash-flow problems and tight credit, implementing invoice factoring into your monthly financial plan may be the answer. Late paying clients can quickly lead to late or missed payments for your own bills.