New York City Factoring Companies| Only Companies with imagination can take it| at accountreceivable
Time 2021-11-09 21:13:12Web Name: New York City Factoring Companies| Only Companies with imagination can take it| at accountreceivable
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New York City Factoring Companies
All receivables factoring businesses give you cash for your receivables. But, they are not all alike.
With about 300 receivables factoring businesses to choose from claiming this and that, so how do you make your choice for the most suitable one for your business?
There are just a handful of receivables factoring businesses that will really deliver your business more than just cash.
With some factoring firms, your business also gets first class plans and service to help improve your company's sales.
Here's what you need to know to select the best receivables factoring company for your company.
You're probably thinking, "I'm too busy for this!"
We'll give you a hand to help you make this decision painlessly. And learn why over 45% of our new business comes from Client Referrals. By far the top referral rate in the factoring industry.
All the others don't come close!
Call Now at 1-888-239-9162If you haven't heard of Factoring, it is mostly a quick way to get cash from your invoices.
Factoring is Not a LoanWhen you give your customers an invoice, they usually have 30 days to pay you back. Factoring companies will give you the bulk of the cash up front, sometimes within 24 hours, and collect the payments from your customers themselves. Once the invoices are paid in full, you’ll get the balance left over, minus a small fee.
Factoring Doesn't Require Debt
Sounds simple enough – fast cash for your business – no loans, no debt.
Everyone yells out they have the best straightforward rate structure in the industry, no long-term contracts, fast- same day/same hour funding, no up-front fees, no monthly minimums or maximums and so on so on.
We also provide all of these benefits, however we also DELIVER JAW-DROPPING SERVICE AND PLANS that other factoring companies don't and simply can't.
What's your proof? Here's our proof, over 40 percent of our new business growth comes from existing client referrals. As you know business clients don't make referrals randomly. After all the client's reputation is at stake, no one wants to risk handing out a bad referral; it can make you look bad. They make referrals to help their business friends and it feels great to provide support.
Not even close, it's no contest, no other factoring business comes even close to our level of superior service and offerings.
FINANCIALLY SOLID AS A ROCK
We have been in the factoring business since 1979, are privately owned, and have a formidable track record of being FINANCIALLY SOLID AS A ROCK. We have survived many of the economy's booms and busts and having had these experiences, can help you get through any bad times you might run into. We won't turn the lights off when the times get bad, like a few factoring companies sadly have before.
BELONGS TO A KING-SIZE NETWORK
All factoring companies have guidelines for size, industry, and risk. It's pretty hard for you to pick which factoring business is a second to none fit for you. By reaching out to us, we'll get to the crux of your situation very quickly and help you locate the most suitable match for your company - it could be us or another factoring company.
We have an enviable network of factoring industry counterparts, these trusted connections were built over 20+ years in the business. So, when you take the time to explain what you need to us, you'll quickly learn that we can help you find exactly what you need.
No Minimum
Many factoring businesses will let you select and choose your customers that you want to factor. But a handful of them generally require a minimum dollar amount before they'll do business with you. We let you select and choose which customers you want to factor on an invoice by invoice basis with no minimum.
Our factoring agreement is a lot like having a credit card in your pocket. You having it to use when you require it but don’t sign an agreement that will make you use factoring when you don't require it.
NO HIDDEN FEES
Many factoring businesses fees are hidden. It defies common sense why they do this. You can be sure, We do not not behave this way. We are unconditionally transparent about our fees. When you apply, you are provided a crystal-clear, no obligation rate offer with the fee for your business. It is going to be tough finding another factoring company, if any, that will be unconditionally transparent with their fees before they try and get your business.
HIGHER ADVANCE RATES
An "advance" rate is the percent of the invoice face value that you’ll get upfront. Invoice Factoring industry averages for advance rates range from 70-90% of the face value of the invoice. For instance, if your customer owes you $1,000, you be given an advance payment of $700 to $900 to your account. Our present advance rates are higher than average - at 85-97% depending on industry and your customer payment track record.
PERSONALIZED
Some factoring companies are financed by Wall Sreet investors. We are an independently owned company and don't take marching orders from investors and boards. Much like you, we are like-minded business people who know what it takes to run a business. We listen to your story, go over your concerns. Based on that information we will put together a custom-built solution for you. Many factoring companies particularly the Silicon Valley Fintech ones usually lay their money on an algorithm to establish your company's funding program. Do you want to rely on an algorithm as a cash flow partner to fund your business?
Dedicated Account Administrators
Many factoring businesses have either a lot of employee turnover, a complex voice mail system that you get lost in or operate call centers where you talk with a new representative every time you call in. We operate differently, you are set up with a dedicated account administrator to be your point of contact – who understands your business inside out, and can support you in ways the others just can't or simply won't.
Protecting Your
Client Relationships
Don't forget the fact that the factoring business will be interacting with your customers on your behalf. Our level of service, stability and longevity, and the caliber of our employees is exceptional. We have been in business since 1979 and have veteran staff who who have experienced it all. Choose us not only for your well-being but for the well-being of your relationship with your customer too. Not only will you benefit from our superb service and real-world know-how, but so will your customers.
Our Business
is Your Business
Together,we put in place a credit risk tolerance guideline to limit your customer write-offs. Further more we keep an eye on each invoice and follow them much the same as your own credit and collections department would. Once they hit the due date we place friendly reminder calls and/or emails on your behalf and keep notes as to when it is scheduled to be paid, and send copies if wanted until payment is made.
Payment Trend Alerts
Our business credit monitoring systems allow us to jump on developing negative trends so that we can protect you from dicey transactions. You have quick access to online aging reports and your dedicated account administrator is always in the loop and given advance notice of any collection concerns so to nip them in the bud immediately.
UP-TO-DATE CUSTOMER CREDIT HISTORY
You get quick direct online access to your customer’s business credit reports, or you can call and speak with your account administrator – whatever works best for you. Be on the lookout for negative payment trends. This is essential to avoid preventable write-offs.
LEADING EDGE TECHNOLOGY
We employ state-of-the-art technology to accelerate the funding process, such as electronic submission of invoices, online reports, online credit checking and other emerging methods to streamline the process and reduce overhead, which means much better rates for you. Many other companies don’t even come close.
FINANCIALLY SOLID AS A ROCKWe have been in the factoring business since 1979, are privately owned, and have a formidable track record of being FINANCIALLY SOLID AS A ROCK. We have survived many of the economy's booms and busts and having had these experiences, can help you get through any bad times you might run into. We won't turn the lights off when the times get bad, like a few factoring companies sadly have before.
BELONGS TO A KING-SIZE NETWORKEvery factoring company has a preference for size, industry, and risk. It’s impossible for you to know which company is the best fit for you. By contacting us, we can save you a tremendous amount of time by helping you find the best match for your business - whether it’s with us or another company.
We have a vast network of industry colleagues that we’ve built over 20+ years in the business. So, when you take the time to explain your needs to us, we can be the “one stop shop” to help you find exactly what you’re looking for.
No MinimumMany factoring businesses will let you select and choose your customers that you want to factor. But a handful of them generally require a minimum dollar amount before they'll do business with you. We let you select and choose which customers you want to factor on an invoice by invoice basis with no minimum.
Our factoring agreement is a lot like having a credit card in your pocket. You having it to use when you require it but don’t sign an agreement that will make you use factoring when you don't require it.
No Hidden Fees
Many factoring businesses fees are hidden. It defies common sense why they do this. You can be sure, We do not not behave this way. We are unconditionally transparent about our fees. When you apply, you are provided a crystal-clear, no obligation rate offer with the fee for your business. It is going to be tough finding another factoring company, if any, that will be unconditionally transparent with their fees before they try and get your business.
Higher Advance RatesAn "advance" rate is the percent of the invoice face value that you’ll get upfront. Invoice Factoring industry averages for advance rates range from 70-90% of the face value of the invoice. For instance, if your customer owes you $1,000, you be given an advance payment of $700 to $900 to your account. Our present advance rates are higher than average - at 85-97% depending on industry and your customer payment track record.
Personalized SolutionsSome factoring companies are financed by Wall Sreet investors. We are an independently owned company and don't take marching orders from investors and boards. Much like you, we are like-minded business people who know what it takes to run a business. We listen to your story, go over your concerns. Based on that information we will put together a custom-built solution for you. Many factoring companies particularly the Silicon Valley Fintech ones usually lay their money on an algorithm to establish your company's funding program. Do you want to rely on an algorithm as a cash flow partner to fund your business?
Dedicated Account AdministratorsMany factoring businesses have either a lot of employee turnover, a complex voice mail system that you get lost in or operate call centers where you talk with a new representative every time you call in. We operate differently, you are set up with a dedicated account administrator to be your point of contact – who understands your business inside out, and can support you in ways the others just can't or simply won't.
Industry VeteransDon't forget the fact that the factoring business will be interacting with your customers on your behalf. Our level of service, stability and longevity, and the caliber of our employees is exceptional. We have been in business since 1979 and have veteran staff who who have experienced it all. Choose us not only for your well-being but for the well-being of your relationship with your customer too. Not only will you benefit from our superb service and real-world know-how, but so will your customers.
Our Business is Your BusinessTogether,we put in place a credit risk tolerance guideline to limit your customer write-offs. Further more we keep an eye on each invoice and follow them much the same as your own credit and collections department would. Once they hit the due date we place friendly reminder calls and/or emails on your behalf and keep notes as to when it is scheduled to be paid, and send copies if wanted until payment is made.
Payment Trend AlertsOur business credit monitoring systems allow us to jump on developing negative trends so that we can protect you from dicey transactions. You have quick access to online aging reports and your dedicated account administrator is always in the loop and given advance notice of any collection concerns so to nip them in the bud immediately.
Customer
Credit History
You get quick direct online access to your customer’s business credit reports, or you can call and speak with your account administrator – whatever works best for you. Be on the lookout for negative payment trends. This is essential to avoid preventable write-offs.
state-of-the-art TECHNOLOGYWe employ state-of-the-art technology to accelerate the funding process, such as electronic submission of invoices, online reports, online credit checking and other emerging methods to streamline the process and reduce overhead, which means much better rates for you. Many other companies don’t even come close.
As you can see, we quite frankly have more to offer you.
Other factoring companies are not even in the ballpark.
And Not All Factoring Companies Can State This:
Over half of our new business comes through client referrals.
Without A DOUBT ! Companies of all sizes, from small privately-owned companies to large multi-national corporations, use factoring so they can increase their cash flow. Factoring reaches all industries, including trucking, transportation, manufacturing and distribution, textiles, oil and gas, staffing agencies and more.
Companies use the cash generated from factoring to pay for inventory, buy new equipment, add employees, expand operations—basically any expenses related to their business. Factoring allows a company to make quicker decisions and expand at a faster pace.
Unlike a bank loan, factoring has…No principle or interest to pay over timeNo debt to repayUnlimited funding potential – no capsFast funding – no waiting months like at a bankApproval is based on the strength of your clients, not your creditStartups are welcome in using funding services