 TITLE: 8 Ways to Get Emergency Financing for Your Small Business CONTENT: 4\\. Invoice Financing\n---------------------\nDoes your business frequently invoice customers for work done or products delivered, but wait 60, 90 or 120 days to get paid? Large corporate or government customers often pay slowly, which can create a cash crunch for your business. Invoice financing could be the answer. Here's how it works: You sell your outstanding invoices to a financing company in return for a percentage of their face value, typically 80% to 95%. When the full invoice is collected, you'll get the rest of its value, minus the financing company's fee.\nInvoice factoring companies and invoice financing companies both offer this service. The difference is that a factoring company takes over collecting your invoices, which might cause confusion or make customers worry that your business is in financial trouble. A financing company lets you continue collecting on the invoices yourself, so customers never know you've used the service.\n**Pros**: Quick access to cash; ability to borrow against money you're already owed.\n**Cons**: High interest rates; if a factoring company contacts your customers, customers may think your business is in trouble. END