Preguntas?
How is factoring different from a bank loan?
The approval process for invoice factoring is quite simple, as compared to the lengthy approval processes often associated with bank loans. Also, unlike a bank loan, factoring does not create debt.
I am a new company. Do I qualify for Factoring if I don’t have a credit history?
We do not require credit history or quality from your company. We will provide you with the credit worthiness of your client to ensure timely payment to you.
will my customers think my bussiness is struggling if I factor?
Factoring is an accepted form of financing in the business world. When a company factors, it will put them in a stronger financial position, which helps build trust in your business.
Will factoring hurt my company’s credit score?
No. Invoice Factoring, also known as Accounts Receivable financing, will not harm your credit score because you are not incurring in any debt.
Does invoice factoring require personal guarantees
Unlike traditional bank loans, invoice factoring does not require personal guarantees.
Do factoring companies contact my company’s customers?
Yes, usually through a one-time mailed notification (Notice of Assignment) alerting the customer to send payments to the factoring company. Factoring companies understand the importance of maintaining business relationships, and will professionally handle all communications with your customer.