Mike Hudack is a tumblelog.

WHEN small businesses face funding squeezes, Mr. Eitelberg and others like him offer an enticing, if expensive, pitch for desperate entrepreneurs. He peddles what is known as purchase-order financing to companies that sell goods but often manufacture them in factories abroad. It is a relatively new line of business — he estimates it’s about 20 years old — and a twist on the ancient and much larger practice of factoring, in which a business sells an invoice at a discount to get its money faster, providing the factoring company with a hefty fee.

Spurned by Big Banks, Small Firms Find Cash Where They Can - NYTimes.com

Interesting peek into the world of factoring and purchase order financing.  I don’t know much about this space but it reminds me a lot of the check cashing business (which a lot of Koreans run) and the importance of really knowing and having a relationship with your customers.