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SOME OF THE NEEDS WE SERVE

  • Fast Growth Companies
  • Start-Ups
  • Payroll
  • Working Capital Needs
  • Bank Turn Downs
  • Turn Around Situations
  • High Concentration Customers
  • Maximized Credit Lines
  • Bank Workouts

Factoring Process

Factoring Process 2016-10-14T00:09:17+00:00

After establishing your Factoring relationship, the process to submit invoices, manage your account and receive the funds each time, is simple.
  • STEP 1 : Submit your invoice in one of three ways, whichever you prefer:
    • By Fax
    • By Scan and Email
    • By Scan and Upload via your online login with us
  • STEP 2 : Send your invoice along with any relevant back-up or other information that helps you verify and prove that the invoice is both valid and all of the underlying work or products are complete or delivered.
  • STEP 3 : We will work with you to verify the invoices validity (which we can do working together with you in a number of ways that are both non-intrusive and do not necessarily elude to your customer that you are factoring),
  • STEP 4 : Typically the same day that you submit the invoice and we are able to verify, we will wire or ACH 80-90% of the face value of the invoice to your operating account.
    • STEP 5: When your customer remits payment for the invoice you have issued and when we receive such we will apply the payment to the factored invoice and your account.
      • We will then rebate to you the remaining 10-20% (10% if we originally advanced you  90% and 20% if we advanced 80%), less our nominal fees.
      • All transactions, both the originating advance, and the rebate are done either by wire transfer or electronic ACH, your choice. We can issue paper checks if you request.

  

Fill out our Working Capital Needs Assessment for advice on the Best Product for your needs