Is invoice factoring a loan?
No, factoring is not a loan so it doesn’t negatively affect your company’s balance sheet.
Is it for everyone?
Factoring is designed to help bolster cash flow for those businesses that only sell on credit to other companies. The business should also have a reasonable profit margin to absorb the factoring fee. It’s your call. You know your business better than anyone. It’s certainly worth your time to contact us for more information.
Does this affect my credit?
No, since factoring is not a loan, it will not affect your business or personal credit.
What does invoice factoring cost?
Pricing for factoring depends on many variables, including the type of industry, advance rate, and the creditworthiness of your customers. OCF will provide you a free, no-obligation quote on your factoring needs. Our rates are competitive with others in the industry. Contact us to get started.
How long is the process?
Upon receipt of all the items required for underwriting, funding can occur as early as a few days.
Will invoice factoring affect my client relationships?
This is a concern for some of our customers, but it should not affect client relationships. We only intercede with your clients if you want us to. Any communication we have with your clients is considerate and professional.
What type of industries does OCF typically work with?
We can work with most companies that have business to business receivables. This includes industries such as distribution, service, construction, health care and manufacturing.
or Apply Right Here!