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ADVERTISMENT PRWIRE - Press Release Distribution Service * Home – ADVERTISMENT – PRWIRE - Press Release Distribution Service FACEBOOK FEED @2021 - All Right Reserved. Designed and Developed by PenciDesign News FACEBOOK ENTERS THE INVOICE FACTORING ARENA AND MORE by DailyBriefers September 12, 2021 September 12, 2021 19 comments Facebook is the latest tech company to enter the small business financing space. Starting October 1st, Facebook will begin offering eligible American businesses the opportunity to sell their invoice receivables for cash upfront. The only cost is a 1% fee of the A/R and invoices can be as small as $1,000. Dubbed Facebook Invoice Fast Track, a promotional video touts it as a solution to cash flow challenges. The caveat is that it will only be open to businesses owned by minorities, females, veterans, LGBTQ+ or someone with a certified disability. Also, the invoices must be issued to a corporation or government entity with an investment-grade rating. An outstanding invoice from something like “Joe’s corner t-shirt shop” for example, would not be eligible. Facebook COO Sheryl Sandberg predicts the company will be funding $100 million in invoices on an ongoing basis. That’s not all, however. The company is also introducing a new small business loan resource through an arrangement with Connect2Capital. Facebook claims that in doing so, it is not “brokering” loans. The developments may not be all that unsurprising given Facebook’s recent foray into India’s small business loan market. Last modified: September 11, 2021 -------------------------------------------------------------------------------- 19 comments 0 FacebookTwitterPinterestEmail previous post “DUST FROM PASSPORT”: VACCINE CERTIFICATE PLANNING IN PROGRESS next post AIRLINE OFFERS FREE FLIGHTS TO LOUISIANA RESIDENTS AND IDA VOLUNTEERS YOU MAY ALSO LIKE EXPLORE A RANGE OF 2 AND 3 BEDROOM... January 23, 2024 NETWORK INTERNATIONAL APPOINTS JAMAL AL NASSAI AS GROUP MANAGING... 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January 23, 2024 RUSS LAWTON, SCOTT METZGER, & RAY PACZKOWSKI ANNOUNCE LAMP SPRING... January 23, 2024 CARNEGIE SCIENCE CENTER CHANGING NAME AFTER LARGE DONATION January 23, 2024 KATHY HILTON REVEALS SHE AND RICK HILTON HAVE... January 23, 2024 GUY FIERI COOKS WITH DALLAS RESTAURATEUR FOR NEW... January 23, 2024 EAST DOWNTOWN DEARBORN’S CULTURALLEY PROJECT WILL TRANSFORM ALLEYS... January 23, 2024 LEAVE A COMMENT CANCEL REPLY Save my name, email, and website in this browser for the next time I comment. SUBSCRIBE TO OUR NEWSLETTER Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated! 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