For 26 years our firm has been providing accounts receivables financing for emerging companies nationwide. In order to qualify for factoring, your business must be generating invoices for work that has been completed and accepted by your commercial creditworthy customers, government agencies or municipalities. The important distinction here is; we base our decision to fund based on your customers’ credit rating.
There are no fees associated with the normal application process.
The above Application link begins the factoring process. It is a simple 3 page new client application that gives us the basic information about your company. The information you provide is kept in the strictest confidence as we aware that highly confidential documentation is required. We treat this very seriously. The completed application may be scanned and emailed. Upon receiving the signed application, we will begin our due diligence activities. Usually within a few hours a term sheet proposal will be submitted for your review. This proposal will outline the terms & conditions, including rates for financing based on the information in your application. Once you approve the term sheet, a full contract package will be sent to your office. Once we have the signed contract, your account is ready for invoices to be submitted for financing.
The entire account set-up process normally takes 3 – 7 business days. The faster you react to documentation requests, the sooner we will begin funding.
Some things to bear in mind when considering filling out an application:
- Does your company have any existing loans? Read: https://www.ccassociates.com/factoring-e-learning-center/what-is-the-ucc/
- The Patriot Act requires all commercial lenders screen applicants through OFAC. Read: https://home.treasury.gov/policy-issues/office-of-foreign-assets-control-sanctions-programs-and-information. Therefore we absolutely require full contact info on all executives in an operational capacity.
- Does your work require Bonding from a insurance company?
- Do the terms in the contract with your customer allow for assignment payments to third parties?
- Be aware we can only fund invoices where the work is already completed.
Any questions or concerns please call 301 – 681 – 0080. We look forward to assisting your company in its expansion.