Frequent Questions About Factoring
What is factoring and how can it help my business?
Simply defined, factoring is the purchase of an invoice at a discount. Instead of waiting 30, 45 or 60 days to get paid factoring allows a business to turn its existing and ongoing accounts receivable into available cash to be used to fund its operations.
What types of businesses does Capital Credit finance?
Capital Credit provides financing for a variety of businesses. If your company is selling on Net Payment terms (N15, N30, N45 or N60) to commercial accounts, we may be able finance your company. Capital Credit provides factoring to service related businesses such as transportation and temporary staffing companies as well as to manufacturers and distributors.
What are your fees?
Each client program is individually tailored to meet their needs.
Fee structures are determined by:
- The total monthly volume that you will factor.
- The number of invoices that you factor each month.
- The average invoice amount.
- Your average accounts receivable turn.
Where are my payments sent?
Payments are sent to our PO Box. Payments are processed the same day they are received and reserves are available for release once those payments have cleared our bank.
Are there any hidden or miscellaneous fees that I will be charged?
Capital Credit offers an all inclusive program. In addition, Capital Credit has no minimum monthly volume requirements and does not charge additional fees for minimum invoice requirements, credit checks, lock box fees, or mailing services.
Do you have any geographical limitations?
Capital Credit is able to work with any company in the United States and can fund any of your customers as long as they are in the United States or Canada.
How fast can you fund me?
Capital Credit can typically approve your application the same day it is received. Once we have approved your company and we have received your signed documents and initial invoicing we can fund your business for the first time within a couple of days. The typical set up process takes a couple of days up to a week.
Your business can grow by offering credit terms or extended payment terms to potential customers and let us worry about financing the receivables. Request a Quote Today!
Why Choose Us?
- Diverse industry knowledge allows us to offer higher advance rates.
- Simple to understand fee.
- No minimum invoice fee.
- No long term contracts.
- No hidden fees.
- No need to factor all of your accounts.
- We accept newly formed businesses.
- Free credit checks and credit analysis for new or current customers.
- Online reporting and account status.
- Three man team is assigned per client.