Factoring is a transaction in which a business sells their invoices, or receivables, to a factor. The factor then collects payment on those invoices from the customer.
Advances are a percentage of the invoice value and usually sent within 24 – 48 hours.Cash advance rates can vary depending on the industry the credit worthiness of the customer.
Factoring helps companies with cash flow shortages to cover fixed expenses. Also, companies experiencing rapid growth that do not qualify for a traditional bank loan will use factoring services.
Unlike bank loans, you do not need an outstanding credit score and history to qualify for factoring. Factors are focused on the creditworthiness of your customers ability to pay.
Apply Today! Once we receive your complete application, it take 24 – 48 hours.
No, factor only what you need. You are never required to factor a monthly minimum and we never charge penalties for not factoring a minimum monthly value.
No, Buffet Factoring does not require you to enter into any termed contracts. You can start and stop factoring any time without any penalties.
Your customers are not affected by the factoring process. Buffet Factoring sends a professional letter and notice of assignment to your customers to update the payment address.