What is Factoring
Factoring allows a business to use its accounts receivable (invoices) to a finance company. This is a fast and easy transaction used by business owners to obtain working capital quickly for their business.
How Factoring Works
- You contact us w/ a list of invoices you want to factor.
- Please choose your BEST clients. Factoring isn’t based on your or your businesses credit! Its based on the quality of the invoices you submit.
- For your first factoring deal. It will take about 72 hours to set up your account and research your client list
- Once we have done the initial set up, the next time you factor a deal it will take about 24 hours to get you the funds! That fast and simple
- Advance rates range from 75 – 90% of the invoices value depending on:
- Your customers credit history – how they currently pay their creditors.
- Your customers industry
- Our company contacts your customers and collects on the invoices when they come due
- Once we have collected on all the invoices we take our fee and release the rest of the funds to you
- Fees are based on your customers credit history and their industry
Our Factoring Program Highlights
- Receive up to 95% of the value of your invoices
- Factoring doesn’t require a personal guarantee
- No term contract. Factor as much or as little as you like
- No liens on corporate assets other than the accounts receivable
- Funding is based on your clients ability to generate eligible sales & not net worth
- It takes up to 3 days to set up your account – after initial set up funding will usually take place 24 hours after you submit your A/R
- We Only Factor Business-to-Business invoices
- Factoring is based on your CLIENT’S credit not yours!