Our same day funding policy gets cash out to you within 12-24 hours. You have the cash when you need it, which will help keep your business moving.
Account Receivable Factoring with us includes complete credit management services. We fully research new clients and, equally important, routinely check the credit ratings of your existing customers. As a part of the process you will also receive accounting, transactional details, aging reports and financial management reports which can be incorporated into your own sales tracking, account history and in-depth analysis.http://fredcoutts.com/
Our experienced account managers are seasoned professionals, each with an average of 11 years in the industry (well above the industry norm of 2 years). And unlike the others, you have one dedicated person and his or her assistant who handle your account. You donšt have to start over with a new person each time you call. Our personalized service sets us apart from other factoring companies -- we always go the extra mile to make sure your
needs are met.
For the business manager who spends a good portion of the day collecting, bookkeeping and searching for capital, the entire factoring package offers peace of mind. The manager can actually focus on important aspects of the business that are often pushed aside, such as marketing and production.
Depending on the agreement, businesses can pick and choose which invoices they wish to sell to the factor, who immediately advances eighty percent or more of the face value of the invoices. The balance of the funds, less the discount fee, is released once the invoice is collected.
The cost of doing business with an invoice factoring company is the discount taken on the invoices submitted for funding. Fees range from 3 to 9 percent, depending on volume, credit-worthiness of the customers sold and overall risk. The discount taken is best compared to a merchant accepting a Visa or MasterCard transaction and receiving immediate payment, less a percentage or discount, before the actual cardholder has paid his or her monthly statement.
Setting up a factoring relationship is quick and easy in comparison to other forms of financing. Applications simply call for basic company information and a customer list. Years of profitability are not required which makes factoring an option for startups generating receivables. It is possible that funding can occur in as little as a couple of days after the receipt of the application and invoices.
Each account receivable factoring operates slightly different. It is important to understand which programs provide the greatest benefits and at the least cost. Several criteria should be addressed when searching for a reputable factor. Are there setup fees, maintenance fees or penalty fees? Is there a long term contract? Are there monthly minimums? Does the factor provide credit and collection services at no additional charge? What accounting reports will the factor supply? What value-added services does it provide?
Imagine flexbility that no one else offers. Unlike the others, you choose what works best for you; you sign no long-term contracts; you pay no fees when your account is inactive. You set up your contract to meet your cash flow needs, not ours. You can choose between using our most advanced technology or using the old-fashioned systems - we maintain both for you. Unlike the others, our objective is not to force you to conform to us, but to get you the cash you need in the
quickest and most efficient manner.