 * With the Accounts Receivable Funding you have a quick access to working capital. You don't have to wait 30, 60 or 90 days to receive payment from your customers. But money is immediately available on demand.
The following are criteria with which Accounts Receivable Funding Programs have been 'generally' designed.
* A product or service must be providing by your company to other credit worthy businesses.
* It also must be billing in debts and selling on terms.
* Having minimum monthly sales of at least $10,000 or annual sales of $120,000 is also important thing for you company.
* It is not necessary for your company to be in business for any length of time.
* The ability to generate financial reports is very important. That's why, your company should have it.
* Current and/or historical losses or a deficit net worth position are also things your company may have.
Here is an example of the application process:
1. Completing the application
2. Providing your most recent and detailed accounts receivable aging report
3. Providing your most recent and detailed accounts payable aging report
4. Providing an actual sample invoice
5. Providing a copy of your Articles of Incorporation
6. Providing a copy of your customer list
7. Some factoring companies require financial statements, others do not.
Preferred Industries
* Service * Temporary Staffing * Security companies * Manufacturing * Transportation * Textile/Apparel * Computer Consulting * Distribution Companies * Printers * Sub-Contractors * All other Industries * However, it can be any company that provides a business to business product or service to another credit worthy business.
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