• What information do you need to start factoring my accounts receivable?

• Complete our Short Form Application to start the process . We will review it and contact you within 24 hours.
• To expedite, we will then need documentation about your company. Those documents include:

1. If a start‐up and available, copy of your business plan
2. Accounts receivable aging report
3. Accounts payable aging report for prior year and year‐to‐date
4. Profit & Loss (P&L) statement and balance sheets

• How long does it take to get funded?

The entire process can take anywhere from two days to two weeks depending on how quickly we receive the needed documents and the number of accounts to be factored.

• Can we qualify for accounts-receivable financing with a history of credit problems?

Yes. CFS is more concerned with the credit quality of your customers.

• Our business just started. Can we qualify despite the fact that we have no credit history?

Yes. CFS works with new companies and factors invoices to provide the cash flow they need to succeed. We will look at your customers ability to pay, not yours.

• Can we qualify if we already have loans or a line of credit?

Yes. Having an existing loan is not a determining factor for qualification. However, as part of your loan, you may have pledged your Accounts Receivables as collateral. If this is the case, CFS will work with you and your current lender to structure a Subordination Agreement. This is a common occurrence, and in almost all cases, the bank will agree to work with us.

• What does accounts-receivable financing cost?

Our fees depend on the industry, the credit quality of your clients and the advance rates. A complete, simple to understand, fee schedule will be provided before we begin funding. As we are a Receivables Management firm, we ensure that you understand exactly what the cost will be prior to factoring. In addition, we will work with you to help you minimize your fees.

• How large does our invoice need to be to qualify?

We will accept single invoices as small as $100.00

• Do we have to factor all of our receivables?

No. You decide which invoices you want to Factor and when you want to Factor them. You maintain control of your program.

• Do you notify our customers to pay you, the Factor?

Yes. We send a simple “notification of assignment” letter to each account advising that we have entered into a factoring agreement and that future payments should be made to CFS. In addition, all invoices are stamped payable to Capital Funding Solutions. Factoring is now very common and most companies are accustomed to working with Factors.

• How do you verify my accounts receivable? Won’t my customers wonder what is going on?

We are very sensitive to the image you have developed with your customers. Prior to implementing a routine to verify invoices, we work with you to develop the best system for your accounts. We also ask your accounts how or what we can do to make verification simple for them. It is essential that we verify all of the invoices we acquire, but we go out of our way to make it quick and simple for everyone involved

• Is there an upper limit on the factoring invoices you accept?

No. We can service any size transaction.

• Are there any industries you do not service?

Yes and No. We avoid some types of construction projects, but certainly not all. We do not factor medical receivables. Regardless of whether we factor your invoices, if you complete our applications we will help you find a quality company that will.

• Can we qualify if my accounts are not large corporations or do not have outstanding credit?

Yes. We offer recourse and non-recourse factoring. This means that if you have some accounts that do not have much credit history or do not have great credit, we offer a program that allows you to take the risk of non-payment by simply repurchasing that invoice. Once again, we’ll work with you to find the solution that best fits your needs.

 

 

 

 

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Factoring for Computer Software Companies in Florida, Texas, New York, Georgia, Michigan, Virginia…