I had the pleasure of talking with Andrew Aquino, Executive Vice President of Bay View Funding, about the process of invoice factoring. He was able to explain how easy the process really is.
Andrew talked with me about what is involved in getting set up as a client with Bay View Funding. He explained that basically they extend financing to businesses that provide goods or services to other businesses. Invoice factoring is a business-to-business transaction providing financing based on the underlying accounts receivable. If you have a business selling a product or service to another business and that business is creditworthy, then Bay View Funding could, for the most part, provide financing to your company.
I wanted to fully understand the process of getting set up. Andrew was able to tell me that the process is really simple – “If we can contract with you and work with your customers, we can provide financing.”