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Factoring
Business
Links
Why a Factoring Business is Necessary
Your Factoring
Business Benefits
Comparison of
Factoring Business to
Traditional
Funding
How Factoring works
Factoring Business History
Is a Factoring
Company For
You
On-Line Factoring Request
Form
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OCF Factoring Business
- Providing factoring business services nationwide
- Over 70 years of factoring company experience
- Up to 97% Advance Rates
What Sets Us Apart
Our program includes the following
features
• 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% 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.
Factoring Business 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 r
eceivables 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
How Factoring Business Works
The First Step:
The Client
profile
You begin by filling
out a simple client profile, which we will provide you. Please click
here
for profile. This profile
will cover basics such as your business's name and
address, the nature of
your business, and information
about your customers.
You may need to
supply an accounts receivable aging report, existing customers' credot limits,
or other related documents. Remember the factor will attempt to determine the
creditworthiness of your customers independent of their credit history with your
business. We want a broader view of their
overall credit
status.
During this initial stage you will also cover basic financial
arrangements with the factor. For instance, what will be the monthly volume of
invoices you want to factor(i.e. how liquid do you need to be)? What will the
advance rate and the discount rate be? How quickly will the factor issue the
advance to you?
In most cases, the answers to these questions will vary
depending on the financial strength of your customer(s) and the anticipated
monthly sales volume to be factored. Variations between industries, length of
time in operation, and general reputation of how risky a customer of yours may
be. For instance, a long list of high-risk clients will cost you more in
factoring fees than a short list of government agencies with a slow-pay
history.
In the factoring business, volume is all important. The higher
your volume(the dollar amount of invoices you factor), the more favorable your
rates will be.
The factor will use the client profile you submit to
determine if your business is suitable for factoring. This process is simply the
factor analyzing the risks versus the rewards, using the information you
provided.
Once approved, you can expect to negotiate terms and
conditions. The negotiation process takes several aspects of the deal into
consideration. For instance, if you want to factor $10,000, you can't expect as
good a deal as a company that wants to factor $500,000.
During the
negotiation process, you will become well aware of what it costs to factor your
accounts receivable. After you reach an agreement with the factor, the funding
wheels begin to roll. The factor conducts due diligence by researching your
customers' credit and any liens placed against your business. The factor also
confirms the legitimacy of your invoice before buying your receivables and
advancing cash to you
To find out how we might structure
a factoring deal
for you, please complete our online account receivable
financing request form.
To talk with a member of our sales team,
please
contact one of our regional offices at:
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Our Factoring Business Programs Can Help You
DOUBLE
YOUR
SALES
Contact a member of
our sales team at:
Toll
Free: 888-266-0197
On-Line Factoring
Request Form
Email Us
Hear What Our
Customers Say About Us
Our Factoring Company Website
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