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Q.
What is Factoring?
Q.
Once we are set up with BeneFactor, how quickly
does BeneFactor fund on invoices?
Q.
When will I receive my first funding?
Q.
What types of businesses does BeneFactor serve?
Q.
How does BeneFactor determine its fees?
Q.
How often will BeneFactor purchase my invoices?
Q.
Are there any up-front costs with BeneFactor?
Q.
How do I get started with BeneFactor?
Q.
What is Factoring?
A. Factoring is a financing option for businesses.
Factoring is a very simple process. Factoring is the purchase of accounts
receivable (invoices). Once you are set up with BeneFactor, you will submit
invoices for funding. BeneFactor will advance you a high percentage (usually
75% to 80%) of the face amount of such invoices. As BeneFactor receives
the payments for such invoices from your customers, you will receive the
remaining percentage of such invoices (known as the reserve) less
BeneFactor's
fee.
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Q.
Once
we are set up with BeneFactor, how quickly does BeneFactor fund on invoices?
A. BeneFactor generally funds its clients within
a few hours of receiving their invoices.
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Q.
When will I receive my first funding?
A. Once BeneFactor receives a completed application,
BeneFactor is usually able to fund qualifying businesses within four to
five business days.
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Q.
What types of businesses does BeneFactor serve?
A.
If you have a business that sells to other creditworthy businesses or
to government entities, you are probably eligible to work with BeneFactor.
BeneFactor funds fast-growing businesses, start-up businesses, mature
businesses with cash flow issues, businesses with balance sheet deficits
and many other types of businesses. BeneFactor can even fund businesses
with tax liens, if appropriate subordinations are reached. BeneFactor
has also helped businesses grow from coast to coast. BeneFactor has funded
businesses in virtually every imaginable industry: advertising, aerospace,
alarm, cable television, cleaning, computer component, computer consulting,
computer reselling, courier and delivery, education (schools), educational
supply, embroidery, environmental testing, fax broadcasting, food and
beverage, flooring, furniture, garment, glass, ink, Internet, label, laundry,
limousine, logistic, manufacturing, moving and storage, music, nursing,
nutrition, oil and gas, pallet, perfume, plant, printing, railroad, recruiting,
robotics, security, service, shoe, software, staffing, telecommunication,
textile, tire, training, trucking and wholesale, to name a few industries.
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Q.
How does BeneFactor determine its fees?
A.
BeneFactor's fees are based primarily upon your monthly funding volume.
Other issues that affect fees are your customer's credit worthiness, the
number of customer invoices, and the average invoice amount. ASK ABOUT
OUR DISCOUNTED RATES FOR HIGH VOLUME CLIENTS!
Q.
How often will BeneFactor purchase my invoices?
A.
BeneFactor purchases invoices every single business day.
Q.
Are there any up-front costs with BeneFactor?
A. There are no up-front fees with BeneFactor.
BeneFactor takes a one-time set up fee of $500 out of the first funding.
Q.
How do I get started with BeneFactor?
A. Click Here to
fill out an application for BeneFactor.
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