2. Facts on Factoring Q: What is factoring? How does it work? A: Factoring is the purchase of accounts receivablefor immediate cash. Once you have delivered a product or performed a service for a creditworthy corporation or institution, contact us prior to sending your invoice to your customer. We will confirm with your customer that the work has been completed, or the goods delivered, and accepted, we will advance you up to 75%of the face value of the invoice amount. When your customer pays us, you will receive the balance less our discount. Q: Do I need accounts receivable financing? A: YES....if you are a new business. YES...if you are a business that can't get traditional financing, such as a small or medium size business or a minority or woman owned business. Yes...if you need additional operating capital Yes...if you are growth-oriented. YES...if you want to solve your cash flow problems. Q: How do I qualify? A: We base our credit decision on the strength of your customers, not you. It's easy to qualify if you meet the following criteria: Your customer must be a creditworthy business. Your invoice must be a valid one for goods sold and delivered, work performed, or services rendered — to your customer's satisfaction. We will verify each invoice with your customer. Q: What does it cost? A: The discount fee starts at 3-4% and is determined by the number of days that elapse from the day we advance funds to you until the day we are paid back by your customer. And, we earn our fee only after we have collected payment on an invoice — not before. Additionally we charge a $500 processing fee and a deposit of $250 which is used to offset the costs of running lien and judgment searches, preparing legal documents, and running credit information on your customers. Q: How will I know which invoices are paid and which were not? A: You will have your own account executive at our office, whom you can call at any time for updated information. Just request an "Aging Schedule" which will show you which invoices have been paid and which remain open. Q: How fast can I get money? A: In many states it takes as little as a few days for us to do our due diligence to get on-line. Once on-line, we can fund your invoices within 24 hours (once we receive verification of your invoices). Q: How do I get started? A: In order to get on-line, submit your Accounts Receivable Aging Schedule as well as a customer list. Once we analyze your receivables and express an interest in proceeding with your funding, we will issue a proposal and list of documents we need to start the due diligence process. It's that simple!
8. I’m in the business of doing business, to help your business, so let’s do business! Junior Sanchez Business Development Officer theprofessional1_2004@yahoo.com jsanchez@quantumfunding.com jsanchez@choicemerchantfunding.com (201) 799-4351 (Office) (845) 380-0612 (Mobile)
