RECEIVABLE FACTORING
Receivable factoring, also known as invoice factoring, is a financial transaction where a business sells its unpaid invoices (accounts receivable) to a third-party company (a factor) at a discount for immediate cash. This allows businesses to access funds tied up in outstanding invoices without waiting for customers to pay on their credit terms. The factor then takes responsibility for collecting payment from the customers.
To qualify for this funding program, you need:
- Open invoices with businesses (not consumers) of at least $20,000.
- To be in business at least 6 months.
- Average gross monthly revenue that is at least $20,000.
FREQUENLTY ASKED QUESTIONS
How does this process work?
Complete the application to the left and receive offers for amount, rate and term.
Is there an impact on credit?
Soft credit pulls are used to obtain offers. Hard pulls are done at funding only.
Do I get a funding adviser?
Yes, a dedicated advisor will work with you to obtain the capital you need.
Am I going to get contacted by lenders?
Lenders only contact you after you accept their funding offers.
Does it cost anything to apply?
There are no costs involved in receiving offers. There are closing fees.
Am I under any obligation?
You are under no obligation to accept any funding offers.
If I have questions who do I talk to?
After submitting, you are provided the email and phone number of your funding advisor.
Submit information about your request, the business and the owners to receive amount, rate and term offers.
- Requested loan information
- Information about the business
- Information about the owners
*** All files are subject to full underwriting & qualifications specified by each bank. There can be no assurance that any applicant will be approved and that credit will be offered.***