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Factoring Fundamentals - Vendor Financing Washington

Factoring is an efficient and reliable way of meeting capital needs of the business. It is beneficial when a business promises to have definite profits in future but faces capital deficit to get the project completed.

Local Companies

AMCI Finance
800/676-8252
104 S Freya St
Spokane, WA
Alliance Commercial Credit Group
(360) 225-7407
8002 NE Hwy 99, Ste 503
Vancouver, WA
AAA Finance
(206) 542-7220
20001 Aurora Ave N
Shoreline, WA
American General Financial Services
(253) 735-9200
1309 Auburn Way N
Auburn, WA
Wells Fargo Financial
(206) 824-7316
4020 S Steele St Ste 104
Tacoma, WA
Citifinancial
(425) 775-4957
19230 Alderwood Mall Pkwy Ste 130
Lynnwood, WA
Eagle Funding
(425) 822-0180
11000 NE 33rd Pl Ste 300
Bellevue, WA
Personal Loan Company Inc
(360) 532-8840
413 7th St
Hoquiam, WA
Merchants Acceptance Corp
(425) 883-2392
18374 Redmond Way
Redmond, WA
Dove Financial Mortgage Center
(360) 657-7668
1059 State Ave
Marysville, WA

Factoring Fundamentals: ( http://www.hjventures.com/factoring/factoring.html ) Principles that govern factoring are same as those governing bank loans, credit cards and other such lending methods. The basics of factoring are divided into two main practices. When a factor purchases an estimated value of the future account receivables it is known as non-recourse factor practice. In non-recourse factoring the factor bears the bad debt risk and the business owner is required to pay interest to the factor for the period specified in the factoring agreement.

The second full-recourse factor practice involves the use of invoice as a security to make a loan. In recourse factoring the factor has recourse to business owner if the concerned customers do not pay. Recourse factoring is cheaper than non-recourse factoring.

How does factoring work?

The first step in the process is to fill the documents provided by the factor and when they get completed the factor provides the business owner with cash against receivables. The factor then pays the business owner a certain percentage of the total value of your invoices. This can be up to 90% of the total value of the invoices. This is paid as soon as the invoices are received, or at the time agreed upon between the business owner and the factor. The process normally takes 24 hours to complete and is either sent directly to business owner’s account or through the mail. Once customers pay up the bills at pre-determined dates lenders too pay up the remaining amount. In the end business owner will also receive copies of customer checks on the date of receipt to keep a record.

( http://www.hjventures.com/factoring/accounts-receivables.html )

Factoring fundamentals once confirmed and acknowledged, are a step towards a stable and secure business, as they help in keeping the working capital needs of the company on track.

Learn more about factoring / business finance : http://www.hjventures.com/factoring/factoring-glossary.html

About the Author:

Howard Schwartz is a partner in several business strategy groups, including HJ Ventures International, Inc. Howard has worked with hundreds of entrepreneurs worldwide with a focus on writing Business Plans for companies interested in raising capital from Venture Funds and Angel Investors. Howard’s business plans have secured several million dollars in funding. For more information: http://www.hjventures.com/factoring/factoring-glossary.html


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Featured Local Company

AMCI Finance

800/676-8252
104 S Freya St
Spokane, WA
http://www.amcifinance.com
Read more about Factoring Fundamentals - Vendor Financing

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