Factoring, also known as accounts receivable factoring, is a form of working capital financing for businesses selling goods and services to other businesses on credit. A business that factors its invoices has:
Access to instant cash for receivables enables a business to eliminate the time it takes their customer to process and pay their invoices. Factoring is financing that won‘t tie up personal assets or cause you to give up any ownership in your business.
FAQ: Factoring Account Receivables
Bay View Funding's invoice factoring program helps businesses increase cash flow while reducing credit and collections headaches. We can help you:
Above all else, we are looking to provide cash flow invoice factoring to businesses with principled and hardworking operators who deliver goods or services to creditworthy customers. You may be in hyper-growth mode or you may be unfairly regarded as a credit risk by conventional lenders, but our concern is your existing invoices and the customers who owe you payment.
No. Bay View Funding is happy to work with businesses that do not have long track records. We will even work with start-ups so long as they have commercial accounts receivable.
No. Bay View Funding is a nationwide accounts receivable financing invoice factoring company-we have provided working capital to businesses in all 50 states.
Just call the Bay View Funding office nearest to your location. You will be asked to complete and fax a signed simple application along with the additional information required.
Bay View Funding's fee structure is based on a combination of criteria:
Once you have returned your completed factoring documents and invoices to Bay View Funding, it should take as little as two days to fund, depending on the quantity of invoices and customers provided for funding.
Bay View Funding funds all eligible invoices submitted within 24 hours of receipt. We typically refund reserves on a weekly basis.
Bay View Funding can wire or ACH funds directly to your operating or fuel account. Alternatively, we can send a check using an overnight service or via US Postal Service.
No. Invoice factoring is tailored to your needs-you can choose which invoices to factor.
Flexible terms are offered to meet your needs.
During the application process, we ask you to supply us with your customer list, complete with names and addresses. We perform credit approvals and establish credit limits on each one of your customers. By providing this valuable accounts receivable management service for your company, Bay View Funding will save you time and help you avoid slow paying or non-creditworthy customers.
Bay View Funding assumes this responsibility. Our courteous and professional staff is the best in the business, with an unparalleled commitment to maintaining excellent relationships with our clients' customers.
Customers access our database through a secure 24/7 on-line Client Center. You will be able to see current aging, cash applications, reserves and just about anything else you might want to know about your factored invoices.
When an invoice is factored on a non-recourse basis, the factor takes the credit risk of the customer, thereby protecting the client from credit loss. When an invoice is factored with recourse, it means that the client is ultimately responsible for payment if the customer does not pay.
No. Bay View Funding only provides cash flow factoring of invoices for goods and services that have been satisfactorily delivered and/or performed and billed in arrears. We may, however, be able to refer you to a financing source for work in progress or purchase order funding.
The main difference is that with a non-notification program, your customers don't know Bay View Funding is involved. In addition, we may or may not make collection calls to your customers.