Nothing is worse than having to wait for customers to make payments on their bills so that you can pay yours. The wait is over when you choose Commerce Commercial Credit’s receivable financing services. You can make timely payroll payments and pay expenses without damaging your business credit, incurring late fees or worrying that your employees will quit...
Fast Access To Your Cash
- Factoring is an easy process that can put cash in your hand within 24-48 hours.
- Banks can take weeks or months to make business loan decisions.
- Improve cash flow without incurring debt.
- You never worry about adding liabilities to your balance sheet.
- Invoice factoring is not a loan and you never have to make monthly loan payments along with payroll and other operational expenses.
Advantages Of Invoice Factoring
It provides the cash flow finance and debt management solution that your business needs to succeed.
It offers a flexible source of working capital driven directly by your trade credit invoices.
It helps you turn today’s sales invoices into tomorrow’s cash flow by tapping into your accounts receivable asset.
It’s responsive, cost-effective and alternative to a bank overdraft or loan.
It extends favorable terms to customers with confidence.
1. Factoring Agreement
The first step is to determine if your business meets preliminary qualifications to receive invoice financing/factoring. CCC will conduct credit analysis using its database on the on the clients (account debtors) who owe you money. The Factoring Agreement will set an initial credit line for your business with all the clients you plan to finance.
2. Submit Invoices for your Initial Advance
CCC will fund your initial advance based on the invoices you submit, the advance funding will vary anywhere from 80-95% of the value of the factored invoice. The amount of your advance is initially established and depends on the size of your client list, transactions, industry, dilution and recurring funding intervals.
3. The Remaining Balance of the Invoices and Fee Deductions
The clients will be notified to pay CCC on the financed invoices. Once your customer pays the invoices based on the terms, the remaining balance will be wired to you, minus the factoring fee. The fee will vary depending on the number of days the invoice remains outstanding. Factoring fees calculated on the invoice amount and can range between 0.69% – 4.9%.
My Furniture Business Grew...
Thanks to Commerce Commercial Credit, Inc my furniture business has been able to grow with the extended cash flow they have provided. I would have never been able to buy raw materials at better rates without the help of their financial services or extended longer credit terms that my customers demand.