(May 15, 2000) Howard Chernin is the senior vice president of Quantum Corporate Funding, Ltd., a position he has held since joining the firm in 1993. Quantum is a national asset-based financing company which currently handles some $80 million in annual factoring and/or financing industry transactions. Quantum is the largest factoring organization in America that serves the construction and building trades industry. In this interview, Chernin explains what a factor does, and some advantages and disadvantages to using factoring. Chernin also raises some questions an accountant should ask to determine whether or not to refer a client to a factor.

	Track 1
Factoring touches many different industries. Chernin explains what a factor does and when a factor may become an option for companies.

	Track 2
Factoring can be more advantageous than borrowing from a bank, claims Chernin. He details what are some advantages and disadvantages of factoring.

	Track 3
What happens when a business decides to use factoring? Chernin goes over a step-by-step process of what transpires between a company and a factor, from the initial stages to how the relationship evolves.

	Track 4
A good accountant is a key element between a factor and a client. What kinds of questions should an accountant ask to determine whether or not to refer a client to a factor? Chernin discusses what to ask and look for.

	Track 5
"A lot of our business comes from banks," says Chernin. Instead of viewing banks as an unlikely ally, Chernin thinks banks and factoring compliment each other in order to benefit the client. He also views factoring as having the ability to provide more freedom and opportunities than banks.

	Track 6
Factoring is often associated with the garment industry - how did that relationship begin? Chernin also discusses how many other businesses use factoring and how large the factoring industry is on a yearly basis.

	Track 7
For companies that do business with state and federal governments, what is the role of factoring?

	Track 8
The real dirt: Chernin discusses the normal duration of a loan that a company can expect from factoring and the rates charged for factoring.

	Track 9
Chernin sees "banks tightening up on loans to people." For this and many other reasons, he thinks that factoring has a bright future ahead of it.

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