Get in touch
- cca@ccassociates.com
- 301-681-0080
- Monday to Friday: 9am to 6pm
- Nationwide Invoice Factoring Company
- Phone 301-681-0080
THE ART OF FACTORING
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Is Factoring Right For Your Business?
Using invoices as collateral, factoring companies provide commercial financing by making advances on accounts receivable. An invoice is defined as a product and/or service that has been delivered / completed and accepted by a creditworthy customer.
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Pre-Billing Not Acceptable
Submitting an invoice to be factored by the factoring company prior to the work being done is called pre-billing.
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Signature Loans
In order to secure a signature line of credit act like a business owner trying to get a loan. Put together a package that includes; information about your business, a list of customers you have lined up, show what money you have already invested in the business
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Factoring Deliverables
initially setting up your agreement with the customer, specifically outline the work to create DELIVERABLES or MILESTONES that allow you to invoice. This is much more preferable than billing along the way aka PROGRESS billing.
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Is it done yet?
the work must be completed and accepted. Whether you provide a service or sell a product, the customer has to be fully satisfied with the transaction. A factor cannot extend credit on unfinished business. By assigning the proceeds of an invoice to the factoring company you step out of the collections loop.
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How To Do A Turnaround In 5 (not so easy) Steps
the problem of turning around a challenged company. Start with identifying those individuals in the company who are driven to see change come to turn around a bad situation. Then, rather than try and fix everything at once, pick small incremental steps
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Monthly Factoring Volume
One of the early questions raised by the factor will be, how much accounts receivable do you have outstanding currently, and how much will you generate monthly on an ongoing basis.
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Factoring Relationship
In many cases there is daily contact with the factor, or in other cases the factoring client is depending on weekly payroll funding.
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Ultimate Factoring
Factoring companies rely largely on the verification process for establishing the veracity of invoices. Generally in reoccurring billing situation this …