Small business owners often do not possess the financial literacy to implement invoice factoring to fund their business. Despite that lack of knowledge, an increasing number of small business owners are using invoice factoring as their primary source of funding. Guided by a systems thinking approach, the purpose of this exploratory multiple case study was to understand the effect of invoice factoring of 5 small business owners, 5 small business finance managers, and 5 factoring program managers, all of whom managed factoring programs and technical services companies with less than $3 million in annual revenues. Participants were located in 6 states with data collected through semi-structured Skype and telephone interviews. Data were analyzed according to the Krippendorff method. Member checking and transcript review established trustworthiness and credibility of interpretations. Three themes emerged from interviews: owner eligibility for traditional capital sources, profit margins, and third-party relationships. The small business owners were not eligible for traditional funding options. Factoring administrators and small business owners cited that companies with better profit margins implemented invoice factoring successfully. Finance managers mentioned that factoring companies acted as a third-party to the invoicing and collection processes. Social implications include a contribution to the advancement of small business success rates and to an entrepreneur's preparation to launch a business venture properly.

Small and medium-sized enterprise (SME) business owners influence the growth and development of sub-Saharan Africa and the welfare of its citizens. However, SME owners often lack the strategies to access and obtain invoice factoring financing to fund their businesses. Guided by the pecking order theory and the credit rationing theory, the purpose of this multiple case study was to explore strategies that 3 SME owners in Kenya used to access and obtain invoice factoring financing to fund their businesses. Data were collected from in-depth semistructured Skype interviews and organizational documents. Data were analyzed using the Krippendorff content analysis methodology. Member checking was used to validate the interview responses and enhance the credibility of results. Three strategy themes emerged from data analysis: proper documentation, effective third-party relationships, and connections with government officials. The study may contribute to positive social change for SME owners in sub-Saharan Africa by providing actionable strategies they can use to access and obtain invoice factoring financing to fund and sustain their businesses. Citizens of Kenya may experience more job opportunities, improved quality of life, increased household incomes, and sustained economic growth.