Our customers tell us that our combination
of
low rates and exceptional service makes
us the best choice for factoring
services.
How Factoring Works
The First Step:
The Client
profile
You begin by filling out a simple client profile, which we will
provide you.
This profile
will cover
basics such as your company's name and address, the nature of your business,
and information about your customers.
You may need to supply
an accounts receivable aging report, existing customers' credot limits, or other
related documents. Remember the factor will attempt to determine the
creditworthiness of your customers independent of their credit history with your
business. We want a broader view of their
overall credit
status.
During this initial stage you will also cover basic
financial arrangements with the factor. For instance, what will be the monthly
volume of invoices you want to factor(i.e. how liquid do you need to be)? What
will the advance rate and the discount rate be? How quickly will the factor
issue the advance to you?
In most cases, the answers to these
questions will vary depending on the financial strength of your customer(s) and
the anticipated monthly sales volume to be factored. Variations between
industries, length of time in operation, and general reputation of how risky a
customer of yours may be. For instance, a long list of high-risk clients will
cost you more in factoring fees than a short list of government agencies with a
slow-pay history.
In the factoring business, volume is all
important. The higher your volume(the dollar amount of invoices you factor), the
more favorable your rates will be.
The factor will use the client
profile you submit to determine if your business is suitable for factoring. This
process is simply the factor analyzing the risks versus the rewards, using the
information you provided.
Once approved, you can expect to
negotiate terms and conditions. The negotiation process takes several aspects of
the deal into consideration. For instance, if you want to factor $10,000, you
can't expect as good a deal as a company that wants to factor
$500,000.
During the negotiation process, you will become well
aware of what it costs to factor your accounts receivable. After you reach an
agreement with the factor, the funding wheels begin to roll. The factor conducts
due diligence by researching your customers' credit and any liens placed against
your company. The factor also confirms the legitimacy of your invoice before
buying your receivables and advancing cash to you
We are a nationwide company
offering
factoring programs the others can't
because of our unique
funding capabilities.
The others are restricted by their banks on
what
kind of factoring programs they can offer.
We are not
restricted!
We have been providing factoring
services nationwide for decades and have clients
in hundreds of
industries
When you become
our client you will
be served by our staff that has an average of 11 years factoring industry experience
per account executive.
(Well above the factoring industry
norm!)
You will have one dedicated person and his or
her assistant
who will handle your account.
Unlike the others, you don't have to
start over each time you call with a new person
Unlike other
factoring companies, our program includes the following features at no
additional charge:
• 12-24 hour funding on approved invoices
•
Highest advance rates in the industry
• Credit analysis on new and existing
customers
• Continuous collection management and follow up on factored
invoices
• Invoice and statement mailing (postage included)
• Account
status inquiries anytime;
24/7 online account access.
• We allow you to electronically
submit Invoices
• Free credit checking on new customers at no additional
cost
Our
flexibility allows you to maintain control:
• You select accounts
you prefer to factor on an invoice by invoice basis.
• You control total
factoring costs by only factoring on an "as needed" basis.
Up to 97% Advance
Rates:
Advance rates are based on overall risk
associated with a particular industry as well as experience and track record. We
hold reserve accounts to accommodate industries which typically experience
dilution and that we would otherwise not be able to service. Advance rates range
from 80% to 97% of the gross invoice amount.
Fee
Structures:
Fees are determined based on your industry, the
credit worthiness of your customers, how quickly your invoices turn, and monthly
factoring volume.
GET YOUR CASH
TODAY
Call
our factoring specialists at
1-866-593-2205 or
Email Us or
Complete our
ONLINE REQUEST
FORM
