Article from Risk and Insurance

Interesting summary article discussing the shortage of drivers contrasted with the increased regulation by the government.
The most time is spent discussing the tailor-made program designed to insure factoring is the right tool for you. The process involves simply filling out the application, completion of factoring documents and final approval
The process may take 1-7 business days until first funding. After approval, funding usually occurs within 24 hours.
Factoring may be perfect especially when faced with a large customer concentration demand. In some cases, it may be the competitive edge you need. By factoring, you have the cash available to pay operational costs and supply the customer continuously.
This is a common concern heard by Partners Funding and please feel free to contact our client references to answer this question. Partners Funding becomes an extension of your company and treats your customers as such. It is of utmost importance to treat customers with courtesy and respect.
We provide factoring services, something a bank does not typically provide. We provide a product that compliments the banks lending services. We become partners whose common goal is helping our mutual clients.
Each business is unique and different questions may arise. The factoring process puts more emphasis on your customer’s ability to pay. Factoring requirements are reviewed on a case by case basis.
The bank may not be able to help when faced with a financial loss. Partners Funding looks at your business processes and the customer’s ability to pay.
Typically you will find that factoring is more expensive than traditional funding sources but as factoring demand increases the cost of factoring is decreasing. The additional services Partners Funding provides such as accounts receivable credit and collections management do reduce the cost of extra employees and time.
In the strictest sense of the word it is not. You do not incur additional debt. You actually make use of an asset—accounts receivable.
Felony convictions, federal tax liens, active bankruptcies, SBA loans, and numerous company shareholders are topics to be discussed prior to the application process.
The factoring industry is a “business to business” industry servicing only invoices billing other businesses.
It is our policy to attempt to point you to another source that might be able to help in your situation.
Contact us at 877-881-3456 for more information or apply online.