Word: factors
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
Unlike banks and commercial finance companies, factors are not primarily lenders of money to their clients; instead, they bet that their customer's customers will pay their debts. The client company turns over all its accounts receivable (i.e., bills owed it) to the factor, who, having previously approved the credit of the client's customers, assumes full responsibility for collecting the bills and absorbing any bad debts. The factor either advances the businessman up to 90% of the amount he is owed at 7.2% interest, or pays him in full when the bills fall due. Thus, the client...
Many businessmen are still reluctant to link up with a factor for fear of scaring off customers. Richard Reynolds, president of the Childhood Interests toy company, a Talcott client since 1957, said last week: "We had little idea of what factoring meant-beyond the notion that it was something to be avoided at all costs. But our bank channels had dried up, so we had no choice. Factoring has enabled us to double our business, and, everything considered, costs us less than other forms of financing...
European Expectations. The services that factors offer their clients are some times more valuable than money. Factors keep teams of experts checking on both their clients and their clients' customers, feed their clients a steady stream of advice and business tips. In one recent maneuver, Textile Banking Co. lent $400,000 to a builder so he could buy carpeting from a manufacturer for which T.B.C. is the factor...
This year's program may not be much more extensive than last year's, but this time all honors candidates will be given the chance to apply. "The limiting factor is how many Faculty members are able to take tutees," warned Feder, "and probably many applicants will be disappointed...
...important factor in Conway's decision was his feelings for Canada. Conway, who has been at Harvard since 1945, pointed out yesterday that he had come to the University "expecting to stay only a year." He also mentioned that he had "seriously considered" leaving Cambridge in 1957, when he completed a five-year term as Allston Burr Senior Tutor of Eliot House...