Frequently Asked Questions
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What does it cost to set up an account?
Nothing, our set up process is totally free.
What kind of fees are involved in factoring?
We don't charge any additional or hidden fees. We charge a weekly rate based on the length of the factoring term, so you always know what your cost is.
Can I pay back my advance at anytime?
Yes, we encourage all our clients to pay back as early as possible. Remember, you're paying a weekly rate based on how long the advance is held, so the sooner you're able to pay back the more money you put in your pocket.
What are the benefits of invoice factoring?
Through invoice factoring a company is able to get fast and easy access to cash. This gives companies a number of opportunities. They can use these funds to grow their business, compete for larger projects, make sure payroll is made on time, purchase materials for new projects, and make any other necessary purchases for their business.
What is the process if i want to factor one of my invoices?
If a company has an open invoice and would like to factor it, the process is quite simple. First they would send a copy of the invoice to the factoring company. The factoring company would first have to legitimize the invoice. Once that is done, the factoring company would wire up to 70%-80% of the valued invoice to the company supplying the invoice. That company would pay a factoring fee based on the agreed upon terms.
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