Tag: reverse factoring

Kompass Funding Adds Team Members

Kompass Funding Adds Team Members Kompass Funding, based in Overland Park KS, recently added two new team members to its organization. Tom Joerger joined as a Division Manager and Ben Hagenkord will serve as their lead account executive. Tom Joerger will be focusing on business strategy and development, as well as client relationship management and process implementation. He has over 10 years of experience in software implementation and support, print and digital marketing, project management, consulting, process improvement, and international business. As the lead account executive,...

Continue reading

Small Business Funding

Alternative funding options for Small Kansas City Businesses in Growth Mode

Alternative Funding Options for Small Kansas City Businesses in Growth Mode Covid-19 changed the landscape for small businesses around the country and especially in Kansas City. “The Payment Protection Program (PPP) was a good band-aid, but now small businesses are really looking for that growth capital and it’s been a challenge for them to find that,” according to John Minnis, CEO of Kompass Funding. Traditional funding isn’t as accessible as it used to be. And, although every small business can’t qualify for a bank or SBA loan, there are other ways they can access capital – solutions they...

Continue reading

One stop-shop for Logistics and Freight Factoring

One stop-shop for Logisticsand Freight Factoring In the trucking world, there are lots of moving parts (literally and figuratively). Literally in the sense that goods are being shipped across the country and figuratively because shippers and carriers are constantly being matched to determine optimal routes for shipments. Another important moving part is cash.  For many carriers, sometimes it can take a couple weeks for brokers to pay for their loads. This can cause a buildup in invoices and a gap in cash flow, especially if truckers are hauling every single day. In partnership with our sister...

Continue reading

Funding for an Uncertain Future

Funding for an Uncertain Future Although the ripple effects of COVID-19 are still prevalent today, we want to take this moment and recognize people’s adaptability and resilience over this last year. Many of us turned bedrooms into offices, living rooms into gyms, and kitchens into personal 5-star restaurants. We were obsessed with shows involving tigers and murders and reliving the run of 1990’s Chicago Bulls in The Last Dance. Many things served as a distraction to what was happening outside our homes, but it is no secret many businesses were forced to close their doors for good. Understanding...

Continue reading

What are the differences between factoring & a bank loan?

What are the differences between factoring & a bank loan? When business owners are faced with financing and funding challenges, many of them will turn to banks for help. And in some situations, bank loans make sense! However, factoring can also be an option to help with cash flow needs. That is why we pulled together some of the key differences between factoring and bank loans to help determine which option may make the most sense for your business. Form of Repayment – Repayment of bank loans includes the principle payment + interest. Factoring does not have interest. Credit History –...

Continue reading

What is Reverse Factoring?

What is Reverse Factoring? Reverse factoring is commonly referred to as supply chain financing.  This is because the factor will insert themselves between a business and supplier in a reverse factoring relationship. Like traditional factoring, the factor will agree to pay a company’s outstanding invoices. Unlike traditional factoring, the factor with be paying the company’s invoices to the supplier.  For a small fee, the suppliers can be paid faster and in a more organized fashion. The same benefits of traditional factoring apply to reverse factoring: Improved cash flow Less time spent collecting...

Continue reading

Follow Us On Facebook

Contact Us

Kompass Funding
7240 W. 98th Terrace
Overland Park, KS, 66212
913-728-0298