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An Uncomplicated Factoring
Process...
To
Obtain A Quick Advance on Your Invoice(s):
1. Invoice as you normally would
2. Request a
factoring quote
3. Submit application signed By Officer or Owner
4. Fax authorization letter & invoice(s)
5. Overnight documents in the start up package to establish account initially
That's all that is needed for a very quick turn around. To establish your
account initially it generally takes 48 hours to receive the funds. Once you are
in our system, advancements on future invoices can be in as little as 24 hours.
Steps Our Trained Professionals Take To
Guarantee a Smooth
Transaction…
1. Call you to confirm we received your invoice(s), authorization letter and
documents package if it is to establish a new account with us.
2. To establish a new account we run a UCC (Uniform Commercial Code) check,
which is standard practice in the factoring business – This is to check for any
liens against your account receivables. A one-time charge of $195 will apply and
can be paid up front or deducted from your first transaction.
3. We do a simple credit check on your client
4. Call client to confirm completion of services or delivery of product and make
introductions to the Accounts Payable department and advise of the address
change.
5. Your Account Representative will call you to verify your banking info.
6. We wire your initial invoice advancement, (generally 80% of invoice) directly
to your account.
7. After receiving payment from client you will receive the balance due you on
the invoice(s) less our factoring fees.
Keep in mind there are trained professionals to offer assistance completing the
paperwork required to get your billing invoices factored quickly.
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