Frequently Asked Questions about Factoring
What is the main benefit for me to factor my invoices?
Selling your accounts receivables will increase your cash flow and thereby provide you with immediate working capital for your business.
What are the chances that I would qualify for factoring?
In a similar way that you extend credit to your customers, factoring relies on the strength of your customer instead of the strength of your business. This being true, factoring can even be a source of start-up capital for your business if you're just getting started (i.e. you will be selling your services or products to the federal government).
What do I need to be factored?
Factoring is open to any business that produces invoices.
Is factoring a fast or slow process?
Factoring is relatively easy and quick to do for most companies. It's much easier and quicker than applying for a small business loan with a bank.
What if I don't want to factor all of my accounts receivables?
You are not required to factor invoices from all of your vendors in order to qualify for this service. You only need to select enough invoices you need to cover the amount of money you're interested in and that could be only "one" significant invoice. This is a very flexible format.
What are some additional benefits of factoring?
Doesn't create debt on your balance sheet as would a loan.
Your purchasing power increases, enabling you to do more business.Improves your companies image.
Literally eliminate the need for venture capitalists or partners in order to grow your business.
You have the flexibility to quit factoring whenever you want - but you probably won't want to quit.
Don't need to pursue Bank loans or SBA loans.Your businesses credit rating improves and your cash position improve.
Reduces costs on your internal staff.
How do I get started?
Simply fill out our one-page form and mail it to us.