Advantage Business Capital’s staff has over 100 years of experience providing factoring services for a wide range of industries and companies nationwide. Factoring is a well-established method of meeting the financing needs of growing businesses. As a subsidiary of Central Bank, Advantage Business Capital has the financial strength and experience to handle each transaction with professional and friendly service.
Factoring
What is Factoring?
Factoring is the practice of selling commercial accounts receivable at a discount to a third party, known as a factor.
This method of financing allows you to get paid immediately on your invoices for
completed and delivered services/products upon issuance of the invoice, as opposed to waiting to receive the payment from the customer.
Why Should I Use Factoring?
Get the cash you need to run your business TODAY, instead of waiting for your customers to pay you.
With access to immediate working capital, you can…
- Meet payroll commitments on time or add employees.
- Stay current with tax obligations.
- Meet peak seasonal demands.
- Take advantage of discounts offered by your supplier.
- Support an acquisition.
If you currently have a traditional line of credit, factoring might be a good alternative to finance your working capital when…
- Your current line of credit is not sufficient to support the growth potential of your business.
- Your current lender is placing limitations, covenants, or other restrictions on the availability of your line.
- Your lending institution has asked you to find another source for financing.
What to Expect with Advantage?
- No application fee
- No minimum funding requirements or fees
- Fee based on date of funding versus invoice date
- Typically same-day funding
- No float days
- Funding up to 90% of the invoice amount
- Funding of the balance minus fees (reserves) twice weekly
- Online lockbox system for you to access payment information
- Dedicated Account Manager and access to Executive Management Team
- Online Reporting to track every aspect of your line
- Ability to compliment with Purchase Order/Inventory/Equipment Financing
- Borrowing base structure for qualified customers
- Access to Central Bank products and services