|
How
does factoring work? |
|
Factoring is the purchase of accounts receivable for
immediate cash. Once you have delivered the product for a creditworthy company
you contact us prior to sending your invoice to your customer. We will confirm
with your customer that the delivery was made and accepted, then we will advance
you up to 97% of the face value of the invoice amount in cash. When your
customer pays us, you will receive the balance less our discount.
|
|
What
type of credit do I need to qualify? |
|
We base our credit decision on the strength of your
customers credit, not yours. It's easy to qualify if you meet the
following criteria: Your invoice must be a valid one for goods delivered -
to your customers satisfaction.
|
|
What does factoring cost? |
|
The discount fee starts at 1-3% and is determined by
the number of days that elapse from the day we advance funds to you until the
day we are paid back by your customer. And we earn our fee only after we have
collected payment on an invoice - not before.
|
|
I own equipment but need cash - Can I get cash up front & make lease
payments? |
|
This is known as a
sale-lease back and yes it can be done. The amount of cash you can get
upfront depends on the equipment you own, credit score and time in
business.
|
|
How fast can
I get my money? |
|
In many states it takes as little as one week.
Once you are set up we can fund your invoices within 24 hours.
|
|
What type of information will I need to provide to get an approval? |
|
To begin simply fill out our
application and fax it back to us at 614-573-7155. Once we receive this
we will contact you to begin the process.
|
