Obtaining Services For Invoice Factoring

How To Start Factoring Receivables

After doing research, determining that your business could benefit from factoring receivables, and understanding how exactly how the invoice factoring process works, there are only a couple of steps that you can expect to encounter before you can start receiving the funding your business needs.

Steps To Take to Start Factoring Your Accounts Receivables Invoices

1. Either find a cash flow services broker that works with invoice factoring companies or find an invoice factoring company to work with directly.

2. Consult with your broker or factoring office to review the specific details of what would be your agreement for factoring receivables including invoice discount rates and advance rates.

3. Assuming that you would be willing to accept the terms discussed during your consultation, the next step would be to fill out and submit a series of forms and other documents.

4. Once you fill out and submit the required documentation and the invoice factoring company approves all the paperwork, you should be able to start submitting your invoices for advances and therefore start factoring your receivables.


Related Articles:

What is Invoice Factoring

Learn the basics of invoice factoring.

Factoring Services Evaluation

See what kind of information factoring brokers and funding sources will be reviewing to determine if you can set up a factoring account.

Invoice Factoring Documents

See what documents will most likely be required for setting up an invoice factoring account.


 

 



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Obtaining Services ForInvoice Factoring