| When you become our client you will
be served by our staff that has an average of 11 years account receivable factoring industry experience per account executive. (Well above the invoice 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 Up to 97% "In all my
years of finance experience I have found you as being the best source,
your personal touch and commitment to us has made our relationship a great
blend of business and friendship."
For
the business manager who spends a good portion of the day collecting,
bookkeeping and searching for capital, the entire factoring package offers
peace of mind. The manager can actually
focus on important aspects of the business that are often pushed aside, such as
marketing and production. Depending
on the agreement, businesses can pick and choose which invoices they wish to
sell to the factor, who immediately advances eighty percent or more of the face
value of the invoices. The balance of
the funds, less the discount fee, is released once the invoice is
collected. The
cost of doing business with a factoring company is the discount taken on the
invoices submitted for funding. Fees
range from 3 to 9 percent, depending on volume, credit-worthiness of the
customers sold and overall risk. The
discount taken is best compared to a merchant accepting a Visa or MasterCard
transaction and receiving immediate payment, less a percentage or discount,
before the actual cardholder has paid his or her monthly statement. Setting
up a factoring relationship is quick and easy in comparison to other forms of
financing. Applications simply call for
basic company information and a customer list.
Years of profitability are not required which makes factoring an option
for startups generating receivables. It
is possible that funding can occur in as little as a couple of days after the
receipt of the application and invoices.
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Receivables Factoring Company Benefits Stop wasting time thinking about cash flow issues and start spending more time on your business. You are not burdened with having to make monthly payments to repay a loan. Receive money in as few days as two to four days. Maintain complete control of your business. Remove or lessen the business costs associated with the collection process. Gain a greater control over your cash flow by deciding exactly how many invoices to sell and when. Win the battle against slow-paying clients. Increase your production and sale. It gives you professional collection and credit checking services. Meet your payroll. Pay your payroll taxes. Provide case discounts for your materials. Increase your purchasing power, allowing you to enjoy bulk purchasing discounts or early payment discounts. Improve your credit rating as you continually have the cash on hand to pay bills on time. Provide cash for your expansion. Provide cash for your marketing. Improve your financial statement. It provides you with complete and detailed reports about your accounts receivable portfolio |