Factoring also known as "invoice financing" is a financial transaction in which a business sells its accounts receivable at a discount to a third party.
The paperwork to sign up is minimal. An account representative will take you through the process which usually takes 1-2 business days.
Once an invoice is submitted to Advance Financing, it usually takes 1-2 business days to get funded.
Nearly any business that sells products or provides services can factor. At Advance Financing we specialize in business to business factoring.
Typically factoring costs a few cents on the dollar. Rates start as low as 1.5%.
You can factor all invoices for your customers that meet the credit criteria.
No, you decide which invoices and which customers you'd like Advance Financing to factor. Adding customers is easy to do as your business grows.
At Advance Financing, we can fund 100% of your accounts receivable.
At the request of our clients, Advance Financing can provide the back office support to your business to bill and collect on invoices. All factored invoices should be paid directly to Advance Financing.
There are a variety of ways to fund your accounts receivable. The most common methods are ACH, check, or wire.
Recourse means you always remain responsible for non-payment while in non-recourse financing Advance Financing assumes the credit risk of non-payment. We offer both types of financing.
Yes! Factoring relies on the credit worthiness of your customer and not your business. Even if you haven't established a credit rating, we can factor your invoices.
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