|
More About Invoice Factoring
Historically, the bulk of factoring was predominately in the
textile, furniture and apparel industries.
Today, factoring firms are working with all types of industries,
including: manufacturers, service providers, transportation companies and high
technology firms. Locally, as growing Puget Sound firms continue to prosper, suppliers and
contractors are looking for additional sources of working capital to
accommodate increased sales volume.
The overall increase in invoice factoring volume is mainly
attributed to the credit crunch in the late 80s. As the availability of bank commercial credit
tightens, more businesses look towards alternative sources of financing to
achieve growth.
The difference between account receivable factoring and other sources of
financing is that the factor actually purchases and tracks commercial
invoices. In addition to providing
immediate cash on invoices, the factor performs valuable credit analysis on new
and existing customers and conducts professional, routine follow up on invoices
as they become due.
For the business manager who spends a good portion of the day
collecting, bookkeeping and searching for capital, the entire factoring package
offers peace of mind. The manager can
actually focus on important aspects of the business that are often pushed
aside, such as marketing and production.
Depending on the agreement, businesses can pick and choose
which invoices they wish to sell to the factor, who immediately advances eighty
percent or more of the face value of the invoices. The balance of the funds, less the discount
fee, is released once the invoice is collected.
|
|
OCF FACTORING
COMPANY
- Providing factoring services
nationwide
- Over 70 years of factoring company experience
- Up to 97%
Advance Rates
WHAT SETS US
APART
• Same Day
funding on approved invoices
• We do not require a long term contract.
• 97% advance rates; tops in the
industry
• Credit analysis on new and existing customers
• Continuous
collection management and
follow up on factored invoices
• Invoice and
statement mailing (postage included)
• Account status inquiries anytime;
24/7 online account access.
Our
flexibility allows you to maintain control:
• You
select accounts you prefer to factor
on an invoice by invoice basis.
•
You control total factoring costs by only
factoring on an "as needed"
basis.
Up to 97% Business Invoice Factoring Advance
Rates:
Advance rates are based
on overall risk
associated with a particular industry as
well as
experience and track record.
We hold reserve accounts to
accommodate
industries which typically experience dilution
and that we
would otherwise not be able
to service. Advance rates range from
80% to
97% of the gross invoice amount.
Fee Structures:
Fees are determined based
on your industry,
the credit worthiness of your customers,
how quickly
your invoices turn, and
monthly factoring volume.
OCF provides
individualized customer service,
by tailoring our flexible programs to
fit the individual
needs of each of our clients. We strive to
be
responsive, handling receivables
with speed, efficiency, and a personal
touch.
As a client you are assigned one account
administrator
who will personally handle
all of your account activity and
inquiries.
This gives us the ability to buy your
receivables and get the
money to
you within 12 to 24 hours.
Having one person look
after your account
also makes it easy for you to decide
which invoices
you are going to sell and
when you want to sell those invoices.
Our funding is primarily done by
direct deposit or
wire.
OCF has more than 70 years of successful
cash flow and
credit management experience,
experience we would love to put to work for
you.
To talk with a member of our sales team,
please
contact one of our regional offices at:
Toll Free:
888-266-0197
Fax #: 425-702-1874
On-Line Factoring
Request Form
Email Us
Factoring Home Page
Why Factoring is Necessary
Factoring Benefits
Factoring History
Factoring Comparison
Credit Risk Management
Is Factoring For You
How Factoring Works
|
|
