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Faced 5+ Years in Prison

People Vs Joseph Amico

Covered by NYDaily News. Las Vegas man accused of threatening a prominent attorney and making vile remarks.

Faced 10+ Years in Prison

People Vs. Anna Sorokin

Covered by New York Times, and other outlets. Fake heiress accused of conning the city’s wealthy, and has an HBO special being made about her.

Faced 3+ Years in Prison

People Vs. Genevieve Sabourin

Accused of stalking Alec Baldwin. The case garnered nationwide attention, with USAToday, NYPost, and other media outlets following it closely.

Faced Potential Charges

Ghislaine Maxwell Juror

Juror who prompted calls for new Ghislaine Maxwell trial turns to lawyer who defended Anna Sorokin.

Why Choose Us

Clients can use our portal to track the status of their case, stay in touch with us, upload documents, and more.

Regardless of the type of situation you're facing, our attorneys are here to help you get quality representation.

We can setup consultations in person, over Zoom, or over the phone to help you. Bottom line, we're here to help you win your case.

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Meet Todd Spodek

WE PROVIDE WHITE GLOVE SERVICE TO CLIENTS
WHO WANT MORE FROM THEIR ATTORNEY

The Spodek Law Group understands how delicate high-profile cases can be, and has a strong track record of getting positive outcomes. Our lawyers service a clientele that is nationwide. With offices in both LA and NYC, and cases all across the country - Spodek Law Group is a top tier law firm.

Todd Spodek is a second generation attorney with immense experience. He has many years of experience handling 100’s of tough and hard to win trials. He’s been featured on major news outlets, such as New York Post, Newsweek, Fox 5 New York, South China Morning Post, Insider.com, and many others.

In 2022, Netflix released a series about one of Todd’s clients: Anna Delvey/Anna Sorokin.

Why Clients Choose Spodek Law Group

The reason is simple: clients want white glove service, and lawyers who can win. Every single client who works with the Spodek Law Group is aware that the attorney they hire could drastically change the outcome of their case. Hiring the Spodek Law Group means you’re taking your future seriously. Our lawyers handle cases nationwide, ranging from NYC to LA. Our philosophy is fair and simple: our nyc criminal lawyers only take on clients who we know will benefit from our services.

We’re selective about the clients we work with, and only take on cases we know align with our experience – and where we can make a difference. This is different from other law firms who are not invested in your success nor care about your outcome.

If you have a legal issue, call us for a consultation.
We are available 24/7, to help you with any – and all, challenges you face.

Invoice Factoring as a Financing Option for Your Business

Invoice Factoring: A Useful Financing Option for Your Business

Invoice factoring can be an attractive financing option for businesses looking to improve cash flow and access working capital. With invoice factoring, a business sells its unpaid invoices to a commercial finance company, called a factor, to receive immediate funds. The factor then collects payment from the customers directly when invoices are due.

How Invoice Factoring Works

The invoice factoring process involves three key players – the business, its customers, and the factor:

  1. The business performs work or delivers products and issues invoices to customers with 30, 60 or 90 day payment terms.
  2. The business then sells or assigns those unpaid invoices to the factor. The business receives 70-90% of the invoice value upfront as a cash advance from the factor. This infusion of capital can be used to pay operating expenses.
  3. The customers pay the invoices owed directly to the factor when due. The factor charges a fee of 1-5% of the invoice value and returns the balance amount less fees already deducted to the business.

Benefits of Invoice Factoring

Invoice factoring offers several advantages over traditional bank loans:

  • Quick access to capital – Get funding in as little as 24 hours without waiting months for loan approvals. This improves cash flow quickly.
  • Flexible limits – Funding limits are tied directly to your sales and not fixed caps like loans. This allows your business to access more capital as your unpaid invoices grow.
  • Easy qualification – Funding decisions focus on the creditworthiness of your customers rather than your business. So early-stage businesses find it easier to qualify.
  • Low monthly commitments – You only pay for the invoices you submit for funding and there are no fixed monthly payments. This helps you better manage cash flows.

When Should You Consider Invoice Factoring?

If your business can relate to any of these scenarios, invoice factoring may be a viable option:

  • You need funds to fulfill new orders but maxed out your business credit line
  • Slow-paying customers are stretching your cash thin impacting growth plans
  • You need to staff up to support growing sales but cannot finance payroll easily
  • Sudden opportunities demand upfront funds you do not have readily available
  • You win a large order but the customer wants extended payment terms
  • Your seasonal business needs working capital between peak seasons

Businesses in industries with longer payment cycles like staffing, manufacturing, wholesale, distribution, business services etc. can benefit greatly from invoice factoring.

What To Look For In An Invoice Factoring Company

While evaluating invoice factoring companies, consider the following:

  • Industry experience – Pick a specialist that understands your customers and common payment terms.
  • Funding speed – The faster you can turn invoices to cash the better. Opt for next-day funding.
  • Transparent pricing – Avoid vague factoring fees. Seek fixed, competitive rates fully disclosed upfront.
  • Responsible funding – Partner only with a reputable company that provides responsible funding matching your needs.
  • Easy application – Go with a convenient and fast online application process.
  • Strong customer service – You need a dedicated account rep you can reach easily whenever required.

Alternatives To Invoice Factoring

A few other options similar to invoice factoring that businesses can explore are:

  • Accounts receivable financing – Similar to factoring but you retain control of collecting payments from customers.
  • Purchase order financing – Receive financing based on outstanding purchase orders to fulfill orders.
  • Revenue-based financing – Repay financing in installments as a percentage of your monthly revenues.
  • Merchant cash advances – Receive a lump sum in exchange for sharing future card transaction receipts.
  • Bank loans – Conventional business loans if you qualify and comfortable with fixed monthly payments.

Each option has its own pros and cons to evaluate before deciding what works best for your needs and risk appetite.

Is Invoice Factoring Right For You?

While invoice factoring offers easy access to much needed working capital, it comes at a higher cost than traditional bank loans. Carefully factor the invoice factoring fees against the cost of cash flow struggles slowing your business growth before jumping in.

For the right businesses, the cost is well justified to fuel their growth and take on new opportunities faster. Businesses already facing cash crunches can certainly benefit from evaluating invoice factoring to see if it is indeed a viable solution for their situation.

Resources

Reddit Discussion on Invoice Factoring Advance Rates – https://www.reddit.com/r/smallbusiness/comments/f1vile/invoice_factoring_question_about_advance_rates/

Quora Post Comparing Invoice Factoring vs Loans – https://www.quora.com/What-are-the-pros-and-cons-of-invoice-factoring-as-opposed-to-a-bank-loan-for-a-small-to-medium-sized-business

When To Use Invoice Factoring – https://www.avvo.com/legal-guides/ugc/when-to-use-invoice-factoring

Selecting An Invoice Factoring Company – https://www.lawinfo.com/resources/small-business/selecting-an-invoice-factoring-company.html

Invoice Factoring Alternatives – https://www.findlaw.com/smallbusiness/finances-taxes/invoice-factoring-alternatives.html

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Testimonials

I was searching for a law firm with some power to help me deal with a warrant in New York . After 6 days I decided to go with Spodek Law Group. It helped that This law firm is well respected by not only the top law firms in New York , but the DA , Judge as well. I...

~Fonder Brandon

5 Stars
It was my good fortune to retain Spodek Law Group for representation for my legal needs. From the beginning, communication was prompt and thorough. Todd, Kenneth and Alex were the first people I worked with and they all made me feel comfortable and confident that the team was going to work hard for me. Everything was explained and any concerns...

~A G

5 Stars
After meeting with several law firms, I chose the Spodek Law Group not only for their professionalism and experience, but for the personal attention given to me right from the initial consultation. It is important to recognize how crucial having the right legal team is when faced with potentially life altering events that impact families and the lives of loved...

~George Cherubini

Spodek Law Group

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We Provide Superior Service, Excellent Results, At A Level Superior To Other Criminal Defense Law Firms. Regardless Of Where Your Case Is, Nationwide, We Can Help You.
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