Accounts Receivable Financing

Step #1

Fax your Accounts Receivable Aging Schedule and a Customer List  (including city and state where located as well as phone number) and copies of recent unpaid invoices to us at 1-212-658-9003

Step #2

We will arrange a conference with you to discuss the aging schedule, client list and funding request.

Step #3

We will send you an Application for Factoring and list of documents required to process.

Application for Factoring

Company Information

Certificate of Officers Agreement - will need to have signature notarized where indicated.

(If your business is not incorporated, you will not need to complete a Certificate of Officers Agreement)

Certificate of Incorporation and/or dba certificate filed with the state

Please provide your exact legal name, address and phone number and that for each of your customers. Accurate legal names help speed up the search to make sure there are no outstanding liens or judgments.

Due Diligence Fee to offset the cost of running a UCC, Federal Tax Lien, and Judgment search (to ascertain that no other liens exist on your accounts receivable)...as well as for the filing of UCC-1 documents with the Secretary of State, and requesting D&B Reports on your current customers.

We only ask for this processing fee after we have determined that we are interested in proceeding with a factoring relationship, but does not necessarily guarantee that we will purchase a particular invoice..

Step #4

As invoices are submitted, your customers are contacted to verify that the invoices are due and payable (that is, work has been completed and accepted, service rendered, or goods delivered and accepted) and that the invoices will be paid directly to factor address. 

Step #5

You will execute a Purchase & Sale Agreement whereby ownership of the invoices are transferred to the factor. You are advanced up to 70% (up to 60% for construction deals) of the face amount of the invoice[s] to your client.

Step #6

Upon payment by your customer, first the initial advance is repaid , then the discount fee, and the the difference is remitted directly to you