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April 15

Factoring of accounts receivable is a quick and easy way for businesses to improve their cash flow by pledging their invoices as collateral. It is a short-term solution or a permanent business finance tool that can give a company the extra cash it needs when it needs it, to meet payroll, add sales, pay suppliers, or meet just about any obligation.

Factoring services are used in just about every industry including but not limited to construction, staffing agencies, trucking companies, service providers, distributors, manufacturers, apparel, packaging and others. Mainly clients in the business to business marketplace. Our current clients are large and small, some are well established and others are start-ups. The key is that your business issues invoices to credit worthy customers.

No, you can pick the accounts and invoices you would like to factor.

Yes, We really don't care what your credit score looks like, we are more concerned with the quality of accounts (Customers) you plan to factor and their ability to pay.

Yes, so long as you have credit worthy accounts ready to invoice, we can approve your business.

Typically items that are going to be required are Articles of Incorporation or DBA, the application, and invoices for services or products already performed. Additional documents may be required or specific industries.

No. All factoring companies require payment to come directly to them. If you happen to receive a check from a factored invoice, simply forward the check to us. DO NOT CASH factored payments from customers as this can alarm a factoring company.

There are several ways we can determine, past payment history, or credit references similar to your credit application can be a way to establish credit limits for your customers.

It is possible, but it may depend on your situation. In order for a factoring company to factor receivables, it must retain 1st position lien rights to your accounts receivable. We can convert your receivables to cash and pay the balance to the tax entity so they can release the lien all at the same time. Or, you can set up a payment plan with the tax entity so we can provide funding for your business. Call us for more details as each case has been unique.

A factoring fee can range from as low as 1% to 6%. The bottom line is if you can increase your business, take early payment discounts from your vendors, and not borrow a single penny from a bank, then it will cost you nothing. Our clients have grown their businesses and increased their bottom line by factoring. It will cost you more money if you are missing out business opportunities by not having adequate working capital. The question you should ask is not what factoring will cost, but will factoring benefit my business by having cash today and not wait 30-60 or even 90 days? Will my business increase the bottom line by having a better cash flow turn on my receivables.

1. Complete a short application. 2. Once received, the application will be reviewed immediately. Upon approval, you will receive a proposed letter outlining the terms. When in agreement with the terms of the proposal, the package will be sent overnight. The forms should be properly filled out and returned. Due diligence (searches) usually takes 3 to 7 working days.

State and County- Uniform code liens, Credit reports, Judgments and pending litigation, Tax lien Searches, Criminal searches

~ You send the original invoices with proof of delivery or performance. The goods must have been delivered or service performed. You will need to mail one copy and one original invoice to us. ~ The invoice is verified and then the advance is funded, typically 80% of the invoice. Funds will be advanced following verification of the invoices. This is usually completed the same day that they are received. The balance of the advance is called the "Reserve". The reserve is held back until the customer pays to Leeds the invoice in full. ~ Payment of the invoices are made directly to the us from your customers. Once received, the reserve is paid to you minus the discount fee. ~ At your option, the funds are sent via wire transfer, ACH or check. ~credit approval for new accounts is easy. All is needed is the name and address of the customer.

Yes, we send a promotional letter explaining you are a growing company and to serve customers better, you have engaged our services.

Yes, we buy all credit worthy commercial invoices (using credit sources such as Experian, Dun and Bradstreet and your own trade references).