Our Frequently Asked Questions page should answer any and all questions you are anticipating about our factoring financial services.
How does this work?
Approval and funding is based upon our review and evaluation of your submitted financial information on your application. We will then refer you to our local regional office specializing in factoring services for your business or industry.
What kind of loans do you offer?
We do not offer loans, as the Factoring Network offers financial factoring services for the purchase of your Accounts Receivable or Invoices for a low fee.
Will I qualify?
Factoring financial services are based on Business to Business only transactions. You need to provide a service or a product to other businesses or industries. Click on the REQUIREMENTS tab on the home page for more information.
Can Frequently Asked Questions answer about advance rates and fees?
Yes. The terms for our advance rates and fees are quoted upon the amount of the receivables your business wants to factor.
How much money can I factor?
We match applicants with participating factors who offer advances of up to $2,000,000 who meet those factors’ specific requirements. Apply now to find out the maximum amount you can factor. Our application is secure, easy, and fast!
How do I get my money?
Once you are approved, the money is usually electronically deposited into your account for a small fee. You can receive the check by US mail. If you have Wells Fargo, we will deposit the money directly into your account free of charge.
Can I really get an advance with bad credit?
Personal credit history is not considered in the factoring process. However, it is very important for your debtor’s credit history to be strong.
How long will it take for me to receive my money?
Once your company is approved, the invoices have got to be verified, and once they are you receive the advance money within 24 hours from that point.
How much does your service cost?
There are no upfront or hidden fees involved in setting up your account with us. You will only pay our low fees for cost of services. Our terms will be discussed openly and agreed upon before you receive advances on your accounts receivable or invoices.
What if I already have a UCC filing on my company’s credit from another loan?
We can either ask the bank that holds the lien to subside the filing and let us take the first position or we will pay off that loan from the first factoring proceeds.
How do I pay back the money I receive from the advance?
You do not pay back the advances you receive from factoring. The amounts due on the invoices or accounts receivables you factored with us will be collected by our company from your customers (or debtors). They approved prior payment to us in your approval process.
Is my information secure?
Factoring Network dedicates itself to a policy that any and all information submitted is protected with the latest and best internet security practices.
How many times can I apply?
You can apply as many times as you wish without incurring any fees.