How soon does the receivable factoring company fund an invoice? Is it true invoice financing really fast? Factoring invoices is about as expedient as you can get for standard commercial financing. The application is a couple pages with a minimum amount of documentation. Within hours, a proposal offer is sent out to you. Upon agreement of the factoring terms & conditions the accounts receivable Purchase & Sale Agreement is overnight delivered. When the signed agreement is returned the funding is ready to start. This usually will take from 5 – 10 days.
Once your factoring account is set up, getting an advance on each invoice is a matter of verification and notification. Notify the account debtor (customer) to make payment directly to the factoring company, and verifying that the work has been completed. This can usually take anywhere from a few hours to the next day. So after submitting an invoice from a completed job, we fund you within 24 hours. As a tool for growth invoice factoring is very easy to set up and quick to deliver.