What could you accomplish in your business if you have a constant and steady stream of cash flow? So what is Factoring?
Factoring it is the process of selling your account receivables at a discount to a factoring company such as Accutrac Capital Solutions. Traditionally factoring companies will immediately advance up to 90% of the invoice face value in cash. The Factor waits to be paid from your customer then remits the balance (10%) minus a small service fee to you.
Service fees are based on the length of time it takes your customer to pay. Accutrac Capital Solutions typically sets their fees from 1.5% to 3% of the amount of the invoice per month.
Factoring is a trusted and effective method of financing that provided value added benefits. It is a centuries old strategy that offers multiple advantages to traditional types of lending, including:
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Factoring is not a business loan, it is an alternate option and the only source of financing that automatically grows with your sales. There are several forms of factoring. In order to supply the highest cash advance at the lowest rate, Accutrac Capital Solutions provides “Recourse Factoring”. This type of factoring is ideal for companies with customers who have good credit profiles but are slow to pay.
Factoring enables a company to obtain immediate cash by selling its receivables for the invoice amount less a small discount. Accutrac Capital Solutions will pay up to 90% of the invoice amount within 24 hours of you delivering your product or service. The balance, less a small fee for our service will be paid to you once we receive payment from your customer.
Contact us today at 1-866-531-2615 x 201 to find out how Accutrac Capital Solutions can tailor a cash flow solution to meet your needs.
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