OCF Factoring Company

 -
Providing factoring services nationwide
 
- Over 70 years of factoring company experience

   We say YES when everyone else says NO                                                          888-266-0197


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Your Factoring Company Benefits

Comparison Of Factoring To
Traditional Funding

How Factoring
Works

Factoring History

Is Factoring
For You
?

On-line Factoring  
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How Factoring Works


The First Step:
The Client profile


Y
ou 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 company'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 company.
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:

Toll Free:  888-266-0197
and ask for Andrea

Fax #:  425-702-1874

Email:  
andrea@ocf.com

Discount Rate: The percentage of the face value of an invoice that a factor holds as its fees.

 

 

 

Variations between industries, length of time in operation, and general reputation all play a role in the factor's assessment of how risky a customer of yours may be

 

 

 

 

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.

  We say YES when everyone else says NO                       888-266-0197

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We are currently factoring account receivable financing nationwide including the following states: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho State, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming. http://mywebpage.netscape.com/fundingunique/account-receivable-factoring.htm