Of course you probably know an invoice factoring company provides business financing by making advances on commercial invoices. An invoice is defined as a product and/or service that has been delivered / completed and accepted by the customer.
In other words we cannot help;
– Sales agents or people looking for an advance of future commissions – there are a few specialty places that do that, but generally commissions are not “invoices”.
– Factors cannot provide up-front capital to open a restaurant.
– Factoring is not for any type of retail store that sells to everyday public consumers.
– Factors do not cash out annual contracts (money today for funds that will be collected over the next year)
– Start-ups who have a new contract but need up-front money to get it going will not qualify until they actually can produce an invoice aka mobilization capital
– No pre-billing on sales or deliveries in the future
– Loan situations related to real estate property are unavailable for factoring.
– And most of all, a factoring company will definitely not pay to help a relative of a deposed government official from a foreign country cash in on a settlement.