What is Factoring. . .
Accounts receivable factoring (financing) is the selling of outstanding invoices at a discount (factoring fee) in order to receive immediate cash, thus improving cash flow.
Once you qualify for A/R & P/O Factoring your company will begin to benefit by:
- Predicable cash payments for product or services provided by your company.
- Costs of this lending method are directly related to the credit worthiness of your customers and costs can be passed on to your customers who do not pay on a timely basis.
- Belcorp will propose factoring terms that will allow you to sell your invoices for the most cost efficient period of time (i.e. rates will be pro-rated for shorter periods of time based on past payment history).
- Belcorp will assume payment application duties that free your staff for other functions.
- Belcorp will keep you advised of high-risk customers based on their payment history and volume as compared to your total receivables.
- We can prepare accounts receivable statements for your customers that generally promote quicker cash payments.
- Belcorp will advance funds against your major credit card charges if you require immediate cash. Belcorp offers this service through Credit Card Factoring.
Belcorp Financial Services, Inc. • 120 E Ogden Ave., Suite 124 • Hinsdale, IL 60521
Telephone: (630) 789-3300 • Fax: (630) 789-3316