Invoice Factoring FAQ's

When you choose an invoice factoring company you want to completely understand the process and the cost. With our company you will get all your questions answered up front and you will also be aware of all the costs involved. We want our customers companies to be as informed as possible. Call today to find out why we are a one of the most trusted invoice factoring companies. Answers to common invoice factoring questions have been shown below. Questions? Give us a call or Contact Us.

 

Can you help me with invoice factoring? What else do you offer?

 

Yes! We offer Invoice Factoring and Working Capital Loans. If you are unsure which option will best serve your company call our trained staff today. We help companies all over the country with our popular invoice factoring program!

   

What is invoice factoring?

 

Our Invoice Factoring program involves the purchase of your current, valid accounts receivables for cash. You send us the invoice and we front a percentage (70-90%) of the money at the time the invoice is received. We collect the remainder of the invoice and remit it to you, as received, less our small invoice factoring discount fee.

   

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What are the fees for invoice factoring?

 

Fees are determined by the industry your company is in, your company and the strength of your companies customers. In factoring the strength of your customer is what really matters the most. Learn more about cost / pricing for factoring.

   

Does my company need good credit to qualify for invoice factoring?

 

The answer is no. You and your companies credit will be checked but the customers credit is a bigger factor than you or your companies credit. Invoice factoring is a lot easier to get approved for than traditional financing and companies do everyday. We look at your company to make sure you do what you say your going to do and are in good standing with your customers without major liens, etc.

   

What is involved in getting my company started with invoice factoring?

 

To get your company approved and get started we need our one page application, a copy of your companies aging and, if you have them, copies of invoices for the company or companies you want to factor.

   

How long does the inital start-up process take?

 

Once you are approved (which many times is in the same day we receive your application) then funding can usually occur in 4-5-days. After that inital start-up time invoices will typically pay the next day.

   

Do I need to factor all my companies customers?

 

No, you can choose which customers your company wants to factor. This is a huge perk of our invoice factoring program!

   

Does my customer know that I am using invoice factoring?

 

Yes they do. Once you are approved we contact their accounding department of that company and have them send payment directly to a lockbox. this usually takes place with an accounting person at our company talking to the accounting department of your customer. It is a simple process.

   

What will my customer think of us using invoice factoring?

 

Invoice factoring is quite common today and chances are your customer is very familiar with it. To them it just means remitting the invoice to a different address.

   

How is the invoice factoring process different from a loan?

 

Invoice factoring is not a loan, does not require qualifying for a loan and it does not appear as debt on your balance sheet. Invoice factoring is a financial transaction whereby we purchase your invoices for cash at a small discount. If you are just looking to get some working capital as a loan we have that too. Check out our working capital loan option.

 

 

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Our invoice factoring program gives you cash next day for your invoices. Why wait for your cash - it's yours and you need it to run and grow your company. Get Paid Next Day!

Call an Invoice Factoring representative today with any questions you may have. We want to speak with you to tell you why our programs are better than the rest!

Getting Started with invoice factoring is easy! Apply below or if you want just get a quote by sending us a copy of an invoice you wish to factor! It's that easy!

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