What is accounts receivable factoring/finance?
Accounts receivable factoring is the selling of your accounts receivable for cash versus waiting 30-60 or 90 days to be paid by your customer. When you provide our accounts receivable factoring company with copies of your invoices, our accounts receivable factoring company uses your invoices to make a loan to your company. It is a simple process and can be automated after the first transaction.
How does our accounts receivable factoring program work?
With our accounts receivable factoring program cash is advanced to your business, and an automated system is set up to repay the cash advance through withholdings from credit card transactions repaying a portion of your business cash advance every time a customer makes a purchase.
How much of an advance can you qualify for?
The amount is based upon your total sale volume and your past business history, not your personal credit. Our account receivable factoring program will allow an advance up to $200,000.
- Builds your business credit
- No financial’s required
- No collateral
- Easy payback process – no fixed payments
- Fast Funding
- Approvals in as little as 24 hours
- No up-front fees or closing costs
- How do you repay the advance?
There is no set term to pay off the advance although there is a minimum of 90 days. As goods and services are purchased by your customer, a small percentage of each credit card sale is collected from one of our preferred processing banks.
Do you qualify for financial funding?
- Are you a restaurants, service or retail business?
- Do you accepts credit cards as payment?
- Do you have six months worth of processing statements?
- Do you have six months worth of bank statements?
- How is your personal and business credit?
- Do you have any open tax liens, judgments or bankruptcies?
- Have you been operating for one year or more?