“I’ve been working with them for over 9 years now and they’re like a partner for me. I could not have grown my business this quickly without them!!! Jaimie Smith my account executive is great!! I get credit checks done same day on new business and have never had a complaint from any customer.”
What exactly is factoring and how can it help my business? Is it like a loan? Will I incur any debt?
If you give your customers 30-60 days or more to pay their invoices, wouldn’t it be great if you could get that money right away? Well, you can! When you use the services of our factoring company, you get 85-97% up front, when you need it. We take care of collecting the money from your customers so you can focus on running the other areas of your business. After your customer pays the invoice, the 3-15% reserve balance is refunded to you less the factoring fee. It is not a loan. There is no debt. You can put that cash to work right away to grow your business..
What makes your company any better than any other factoring company?
Almost all factoring companies claim to offer simple fees, 24-hour funding, no up-front fees, no monthly minimums, etc. We do, too. But we don’t stop there. We go the extra mile for you that other factoring companies just can’t or won’t. Factoring has been our primary focus since 1979, and we’re committed to offering the most effective and versatile programs in the industry. Give us a call now to find out how we can better help your business.
I’m not familiar with your company. How do I know you’ll be in business when I need it?
We’ve been in business since 1979. We’re privately owned, financially strong, and have survived economic downturns that have put other companies out of business. We know what it’s like to go through tough times. We’ll help you make the right financial decisions in good times and bad. We’ll be here when you need us to help keep your business running smoothly and staying strong.
Experience our superior offerings and service. Call us today.
How do I know if you’re the right company for my business?
You need peace-of-mind knowing that you’ll be making the right decision when it comes to selecting a factoring company. Since 1979 we have been funding companies in a wide range of industries and sizes. Should your needs fall outside our parameters, we’ve built a vast network of resources and can save you a tremendous amount of time by helping you find the best match for your business from the very beginning. You will love our flexibility and ability to match your particular needs and industry to the perfect funding resource.
I’m a smaller business. Will I be accepted by your company?
We work with companies of all sizes. Small businesses are the glue that hold our economy together. If your business is very small we can introduce you to our network of “micro” factoring companies who assist even the smallest of companies.
I have been turned down by banks, will I qualify for factoring?
If your business provides a product or service to a creditworthy business(es), and you extend that customer payment terms yet would prefer not to wait to get paid, you are a candidate for factoring. If your customers utilize your payment terms, but have a good pay history, you will want to take advantage of factoring.
I have a UCC Filing against my company. Can you help me?
Yes, if the UCC holds your accounts receivable as collateral we will need the lender to subordinate or terminate to allow for factoring since factoring requires a first position UCC on your accounts receivable. We can help you navigate that process.
Are there any minimums? What kind of agreement do I need to sign?
We have no minimums. As a matter of fact, you can pick and choose which invoices you want us to help you with. And, we offer agreements starting as short as 90 days. You select which invoices you would like to submit for funding as frequently as you need. Our factoring program is like carrying a credit card in your pocket. You carry it to use when you need it. Call us now and let’s get started today.
Sure! Unlike most companies out there, we are totally transparent about our fees and rates up front. Our typical factoring rates run from 1.5% up to 4% depending on several criteria, including volume, industry, and risk. Our services include funding by ACH, wire transfer and electronic submission of invoices. Each of these options have nominal transaction charges associated and are always clearly stated up front in the factoring proposal. Unlike the others we do not charge you any set up costs. Nor do we charge you a monthly minimum fee or any other types of fees that the others charge.
How much of my invoice will I receive up front, and how soon will I get the money?
Most factoring companies have advance rates that run from 70% to 90%. Our advanced rates are much higher—from 85% to 97%. Once your customer pays the invoice, the reserve portion of 3% to 15% is refunded to you less the factoring fee. Your funds are deposited directly into your business checking account. It’s simple. It’s easy. It’s fast.
Speak to one of our account representatives and we’ll give you all the information that fits your particular business.
Of course! We are a privately held company made up of like-minded entrepreneurs just like you. We know what you’re going through—we’ve been there—and we’ll be helping you every step of the way. We take the time to listen to your situation and put together a personalized plan just for your business. Contact us today and let’s talk—no obligation!
How will you work with my customers to collect on the invoices?
We interact professionally at all times with your customers as we know your customer relationships are the lifeblood of your company. We should not be confused with a collection agency. We place calls on your behalf to check on payment status, we make note of check dates which we can share with you as well as pass along any messages to you. Essentially, we become your Credit and Collections Department for factored invoices which frees up your time and your staff’s time to do other more productive things.
Well, to start, our team has in-depth credit expertise and resources including business credit reports to check your customers’ creditworthiness. This can help you stay ahead of any possible negative payment trends. This is critical information you need to run your business smoothly and avoid bad debt write offs.
We’re committed to offering leading edge technology to expedite the funding process, such as electronic submission of invoices, online reports, online credit checking, and other emerging methods in order to streamline the process and reduce overhead, which means lower rates for you. Most other companies don’t even come close to our level of technology and efficiency. Contact us today and we’ll show you everything we offer that the other companies can’t, or won’t.
Companies of all sizes - from small mom-and-pop businesses to very large corporations—use factoring to increase their cash flow, which greatly facilitates business growth and keeping everything running smoothly. It’s easy to get started—just give us a call and we’ll tell you all about it.