How Do I Qualify?
- You generate at least $75,000/month in gross receivables.
- If your business is seasonal, you generate at least $900,000 annually
- You can provide valid, verifiable invoices for review
What Do I Need to Get Approved?
- Completed Application
- Detailed A/R Aging – Must Be Current.
- Articles Of Incorporation
- 1 page summary: What you’ll be using the funds for?
- Do you have Outstanding IRS issues, State Tax issues/liens, or other encumbrances that may prevent us from funding you.*
*If we know these situations up front, we’re much more likely to work through these issues with you.
How Do We Look At Financials/Credit Rating?
It’s not necessary to have positive cash flow to qualify for our factoring program.
We can also work with you if you have a negative net worth. Our creative financing solutions are designed to help you get back on track. That’s what we’re here for.
It’s okay to have poor credit. We understand some situations such as hospitalization or divorce for example can have a damaging effect on your credit. Bad things happen to good people.
If your credit situation is explainable, we’ll take that into consideration. Conversely, we’re not interested in working with business owners looking to cheat the credit system.
How Do We Determine Rates?
With most Clients paying a minor Factoring Discount Fee and Prime based borrowing cost, advances against your account receivables can convert up to 90% of their face value.
We structure each contract on a case-by-case basis, taking into consideration a broad range of variables. This allows your company to pay only for the cash and services you use.
Some of the variables we consider are:
- Average monthly factored volume
- Average invoice amount
- Credit-worthiness of customers
- Length of contract
- Projected average and actual turn of receivables
- Projected and actual cash employed
- Number of customers
- Volume of repeat business with same customers
- Your capacity to electronically download and receive information
- Percentage of factored to non-factored invoices
- Financial condition of business and guarantors
- Value of collateral in addition to receivables, if any
- Historical and actual dilution (non-payment of invoices in the amount billed due to claims, disputes, and adjustments.)
We Specialize In Factoring Receivables For The Following Industries:
| Manufacturing | Wholesale |
| Minority-Owned Businesses | Staffing/Temp Agencies |
| Security Companies | Janitorial Services |
| IT Services | Cable Laying Contractors |
| Drilling Contractors | Messenger Services |
| Trucking/Freight Companies and more.. | |
Is Invoice Factoring Right for you?
Since there is no one size-fits-all financial solution, we offer access to a variety of different lending vehicles, such as the Business Cash Advance.
If you fall outside our invoice factoring criteria, a business cash advance might be another alternative. Learn more about our Business Cash Advance.