Q: What is factoring?
A: Factoring is the term used to describe the purchase of invoices or accounts receivable from you by Capital Partners.
Q: Who factors with Capital Partners?
A: Many businesses find factoring useful to acquire quick working capital. It’s fast and easy to set up and unlike a line of credit, grows with your sales. Capital Partners specializes in business-to-business receivables.
Q: Do I have to make a long-term commitment?
A: No, there are no long-term contracts. In fact, we allow you to try us out for 30 days to see if factoring is right for you.
Q: Are there monthly minimums?
A: No, there are no minimums or volume requirements. You can choose which invoices you would like to factor to meet your cash flow needs.
Q: How do I get started?
A: Download the Client Profile and once completed, fax it to us at (866) 310-1954. With some basic supporting information, we will prepare a written rate proposal for your review within hours. If you agree with the proposal and want to get started, sign the paperwork, send us your invoices and we’ll get you funded as soon as possible.
Q: How long does it take to get my money?
A: We usually fund within 24 hours of receiving invoices in our office. Cash is wired directly into your bank account. You can even fax your invoices to us as long as your customer will accept copies.
Q: How much does it cost?
A: Most customers have a factor rate as low as 1%, depending on the credit history of your customers and the volume of invoices you intend to factor each month. This small fee is equal to a few pennies on the dollar to have your cash now rather than waiting 30 to 60 days to get paid.
Q: What other services are included in the factoring process?