Invoice financing companies typically use something called a Uniform Commercial Code (UCC) filing to protect their claim to the invoices they've financed.
The UCC helps financiers, banks, and commercial lenders keep track of who's lending against what assets...
A UCC is somewhat like having a first mortgage on your business.
Whoever filed their UCC first usually has first rights to any payments from the financed invoices...
To switch invoice financing companies, the old company has to be paid off by the new one...
A 'payoff' or 'buyout' happens when the new invoice financing company pays the old one...
The payoff figure is typically calculated by taking the total amount...
If you can submit new invoices to the new company to pay off the outstanding ones...
Switching companies usually takes a few days longer than the usual setup process...
In some cases, the old and new companies might be able to work out an agreement...
We relieve your headaches and stress of collecting on accounts receivables.
You have 24/7 account access 365 days a year.
When you call, you get to speak to a real live person.
Don't wait long periods for a loan. Many of our factoring deals can take place in as little as 24 to 48 hours. If you need capital right now or are looking to expand then factoring is the way to go. We work on your time instead of you working on a bank's schedule.
If you need cash and you're sitting on a lot of unpaid invoices then factoring with us is the way to go. We'll give you the cash that your business needs and collect from your customers.
Debt is risky while at the same time being beneficial to growing a business. Start-ups can relieve themselves of the risk of debt and still create capital with factoring.
If you're a start-up or your business has a poor history or credit then you can still get the cash that you need. Today's banking atmosphere makes it a challenge for even the most-qualified businesses to get a loan. Factoring takes care of all of that.
Without a collections department or a small staff, collections often come down to you doing all of the leg work. Our Factoring Service will alleviate that burden and provide the service that you're not equipped to handle.