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ACCOUNTING

Noted

Remembering a factoring guru.
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Even long-established smaller companies find it relatively hard to get the financing they need, and some can't get any at all.

-Herbert R. Silverman

To fund small companies, this legendary New York financier popularized the practice of factoring-- lending money to businesses in return for taking over their accounts receivable. Silverman died on August 21 at age 91. This quote is from a speech he gave at the annual dinner of honorary business fraternity Beta Gamma Sigma on May 10, 1956.

Last updated: Nov 1, 2003




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