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The Six Steps to Factoring Simplified

By February 5, 2018CFS Blog
  1. CFS will ask you to complete a business credit application.
  2. CFS performs due diligence based on the credit application. If the information meets criteria, and any issues are eradicated, CFS will recommend the best funding option for you.
  3. Within 24 hours, CFS will provide a funding proposal to you. Upon acceptance of terms, a formal contract will be sent within 24-to-48 hours to be signed by both parties.
  4. CFS assigns a dedicated account manager that will check the credit quality of your customers and establish a credit limit for each of them.
  5. You then submit invoices to CFS to be factored. CFS verifies the invoice status by sending an NOA and verification letter to the your customers (debtors).
  6. With debtor invoices verified, an advance up to 85% will be deposited via ACH into your bank account by CFS. Debtors will now pay all factored and non-factored invoices to CFS via its lockbox.

Email Us if you think factoring is right for you. We can walk you through the process and explain how it could work for your business… or call 877-545-1311.

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