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The Steps to accounts receivable factoring success There is no reason not to take advantage of accounts receivable factoring in Florida just because you are somewhat unsure of the process. The Factor Group is here to give you a stress- and hassle-free introduction to the many benefits this financing tool provides. We will be glad to help you every step of the way because we take great pride in satisfying all of our customers’ needs; in fact, we make taking the leap to factoring easier than ever before! Company A delivers products or services
and an invoice for them
| Company B receives the products or
services and agrees to pay
| Factor Group advances payment to Company A while waiting to collect from Company B The client (Company A) assigns the invoice to the Factor Group
The Factor Group verifies the invoice and instructs the debtor (Company B) where to make the payments.
The Factor Group purchases the invoice and advances a percentage of its face value to the client, holding the rest in reserve.
After collecting from the debtor, the Factor Group remits the remaining money to the client minus a small fee.
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- Our team of professionals will work out a deal at the outset that is beneficial to both parties, including details such as payment dates, the term of the contract and other pertinent information. Remember that we will be happy to walk you through the process should you feel uncomfortable about any aspect of accounts receivable factoring.
- Once all the details have been set up, the actual process of factoring your accounts receivable will begin. You send us the invoices and we’ll take things from there. It really is that easy!
- After we receive your invoices, we will get in touch with your customers to introduce ourselves and verify the accuracy of your information. This will allow us to expedite the process from the very beginning.
- Next we purchase the invoice and advance you the percentage of its face value that was agreed upon in the contract.
We then take over the task of collecting payment from your customers. Once the invoice is paid, we remit the remaining funds (known as the rebate) to your company minus a pre-arranged fee. - This process can be repeated each and every time you create an invoice.
- Contact the Factor Group today and you will be one step closer to converting your unpaid invoices into cash and taking your business to the next level of success.
Factor Group - Miami, Florida
Telephone: (305) 728-1355
Fax: (305) 728-1352
Email:
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