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BUSINESS BORROWING BASICS 2020: Alternative Structures- P/O Financing, Factoring & MCA



Content Partner:  Financial Poise
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Description: Purchase-order financing (P/O financing) is a type of asset-based loan designed to extend credit to a company that needs cash quickly, to fill a customer order. A company may operate with such a small amount of working capital that it cannot afford to pay the cost of producing a customer’s order. P/O financing enables such a company to not turn away business, by borrowing from a lender using the purchase order itself as collateral to support a loan.
 
Factoring is one of the oldest forms of business financing. Note that the term is “financing”
rather than “loan” because factoring is not actually a loan. In a typical factoring arrangement,
the company needing financing makes a sale, delivers the product or service and generates an
invoice. The factor (the funding source) then purchases the right to collect on that invoice by
agreeing to pay the company in need of financing the amount of the invoice minus a discount. 
 
MCA lending is, in summary, an advance on a company’s sales.  Financing through a merchant cash advance (MCA) is used mostly by companies that accept credit and debit cards for most of their sales, typically retailers and restaurants. The concept is this: funder purchases a portion of the company’s future credit card receivables for a discounted lump sum. The MCA funder receives the purchased credit card receivables as they are generated either by taking a percentage of the company’s daily credit card proceeds or by debiting a certain amount of funds from the company’s bank account. Depending on the risk profile of the company, it can be a more expensive form of financing for a business compared to other types of financing.
 
What these three things have in common is that they are each a type of “alternative lending.”  Alternative to what?  To the type of loan a company can get from a “regulated” commercial bank. This webinar explains these types of financing arrangements, what to consider before entering into them, and provides some tips on how to negotiate them.
 
This webinar is delivered in Plain English, understandable to you even if you do not have a background in the subject. It brings you into an engaging, even sometimes humorous, conversation designed to entertain as it teaches. And, it is specifically designed to be viewed as a stand-alone webinar, meaning that you do not have to view the other webinars in the series to get a lot out of it.
 
 
Speaker Information
Moderator:
Hajar Jouglaf, Attorney, Sugar Felsenthal Grais & Helsinger LLP
Hajar was recruited to join Sugar Felsenthal Grais & Helsinger, LLP after coming to the attention of one of the firm’s senior partners. She is a member of both its Business Transactions Group and its Restructuring & Insolvency Group.
Hajar attended the University of Charleston on a merit-based full-ride scholarship and graduated summa cum laude in three years.
While in undergrad, Hajar was one of two students selected to engage in an independent study course with the president of the university, which led to her conducting extensive research on alternative energy sources and briefing national energy experts on various issues facing the energy sector in the United States. Hajar was also selected by the university to serve as the Rhodes Scholarship institutional candidate and was awarded the President’s “Outstanding Senior of the Year Award.”
While in law school, which she attended on a partial academic scholarship, Hajar earned several CALI Excellence for the Future Awards awarded to the student with the highest score in each law school class. She also served as a Student Ambassador, Parliamentarian of the academic senate, and on the board of the Women’s Law Caucus. Hajar is fluent in French and Arabic.


Practice Areas: Banking & Finance Law, Bankruptcy & Creditors Rights
Online Media Type: Audio
Production Date: 08/05/2020
Level: Intermediate
Category: Standard
Duration: 1 Hours, 2 Minutes
Online Format: On Demand

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AK, AL, AR, AZ, CA, CEU, CO, CT, FL, GA, GU, HI, IL-EXPER, IL-NEWADMIT, IN, ME, MO, MS, MT, NC, ND, NH, NJ, NV, NY-EXPER, NY-TRANS, OK, ON, PA, PR, QC, TN, UK-BSB, UK-SRA, UT, VI, VT, WI, WV
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Total Credits: 1
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Status: Reciprocal Credit Available
Expiration: 08/04/2023
Training Type: Online

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Speakers:
Hajar Jouglaf - Attorney, Sugar Felsenthal Grais & Helsinger LLP
This product is designed to provide information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought.


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