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Factoring is the purchase
of your accounts
receivable (invoices) in order to provide you
with the cash flow you need. Factoring is a widely
accepted financing option used by companies of all
size.
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Typically within 24
hours of receiving your company's information, we'll
issue you a proposal. Upon acceptance, we conclude
our due diligence and complete documentation. Funding
can happen as early as within a few days of initial
contact with your company. Ongoing, it is common
to fund within 24 hours of your invoice submission
to Working Capital Company.
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No. Depending on the
amount of additional cash flow you require, you
decide which invoices we factor from your company.
Our service allows you flexibility while providing
your company with the cash flow it needs to thrive.
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We have an on-line service
that allows you access to your account and reports
any time you wish. Additionally, you will be assigned
a Client Service Representative, who will be your
contact for any questions you may have throughout
your relationship with us.
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Factoring has been around
for centuries. It's one of the oldest types of financing,
first seen in the United States in the garment and
textile industries. Today however, factoring is
a funding solution for companies in all industries.
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Factoring is faster
and less complicated than bank financing. Factoring
companies make decisions based primarily on the
credit worthiness of your customers, while a bank's
credit decisions rely mainly on your company's financial
history, cash flow, and collateral. We fund quickly,
often within days of receiving an application, when
banks generally take weeks or months. In addition,
when you factor your accounts
receivable, your company incurs no debt, as
there is no interest to pay or principal to repay.
Factoring can also help companies that banks traditionally
shy away from, such as start-ups, companies with
tax liens, or even companies in bankruptcy.
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Businesses with cash
flow problems cannot wait 30 to 60 days or more
for payment on their invoices. They need immediate
cash to meet the financial obligations of their
companies. Factoring provides this cash to businesses
through the purchase of accounts receivable.
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Factoring is a good
fit for many companies for a variety of reasons.
Start-ups and high-growth businesses need cash from
factoring to help fuel their growth. Companies who
have suppliers to pay or service-based companies
with high payroll and payroll taxes use factoring
to assure they can meet their financial obligations.
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Companies who sell a
product or service to commercial or government entities
and need cash fast to make payroll, payroll taxes,
pay suppliers, or fulfill other financial obligations
make excellent factoring clients.
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We respect the relationships
you have developed with your customers. We understand
they are the backbone of your business and treat
them with the highest level of courtesy and professionalism.
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You receive cash immediately
from your invoices instead of waiting 30, 60 days
or more for your customers to pay. It is as if you
have COD terms with your customers. You receive
our collection and credit expertise, while enjoying
increased cash flow. You can then concentrate on
running and growing your core business.
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Rates are based on the
amount your company factors and how long it takes
your customers to pay. We are happy to provide you
with a QUICK QUOTE
if you give us a bit of information regarding your
business.
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No. Factoring is not
a loan. It is the purchase of an asset, your accounts
receivable. While approval of a bank loan considers
all of your company’s assets as well as your
financial history and balance sheet, a factor relies
mainly on the credit worthiness of your customers.
Factoring is often the ideal solution for businesses
with poor financial histories, little or no track
records, or weak balance sheets.
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You can factor almost
any valid invoice for a service or product that’s
been delivered to and accepted by your creditworthy
commercial customer.
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We can advance you up
to 90% of your receivables immediately. The balance
(less our fees) is released to you upon payment
of your invoices.
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As we base our financing
decisions mainly on the credit worthiness of your
customer base, generally the financial strength
of your company is not going to prevent you from
obtaining our factoring services.
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Our clients use the
cash to meet payroll, payroll taxes, pay suppliers,
and take advantage of supplier discounts, purchase
inventory or equipment, and take on more orders.
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Absolutely not. Factoring
is a long established and mainstream financing option
for businesses. It is likely that some of your customers
do business with vendors using a factoring service.
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Basically, factoring
will require a change to the address where payments
are mailed. In addition, we handle collections for
you, allowing your time to be used on your core
business. Otherwise, your working relationship with
your customers will remain the same.
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No. We can work with
any business or government agency in the U.S. What
matters is that your customers are creditworthy.
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We finance companies
from a broad range of industries including, but
not limited to, distributors, telecommunications
companies, temporary personnel agencies, nursing
registries, manufacturers, wholesalers, consulting
companies and security guard services. Companies
from the above-mentioned industries with creditworthy
customers will benefit greatly from our factoring
services.
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Our clients are companies
who invoice a minimum of $10,000 each month. We
help small start-ups as well as mid-sized businesses
with needs up to several million dollars.
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Working Capital Company
has over 20 years of experience and handles collections
with expertise and finesse. Our collection service
allows you the freedom to concentrate on growing
your company. Throughout the process, we stay in
contact with you and ask for your involvement when
necessary.
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