The top firms in terms of estimated annual factoring volume.
As the economy has deteriorated, banks have become increasingly reluctant to provide capital to small or midsize firms — the size of many U.S. apparel manufacturers and designers. Thank goodness for factoring, which keeps many of these businesses afloat. Factoring firms, which advance financing against sales, can be a more accessible source of lending because they are not bound by the banking industry’s financial covenant restrictions. Rather than evaluate the credit worthiness of companies based on net worth, liquidity, cash flow and profitability, factors look for the quality of accounts receivables.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"