Factoring: What is it?
How Much Does Factoring Cost?
As we all know, factoring is not free, but when used properly, it can more than pay for itself. The idea is to have cash in hand rather than chasing the full amount of the invoice.
Typical fees are a few percent of the invoice amount depending on several factors such as the volume of factored invoices & how long your customers take to pay. Some of our fees are as low as 1.5%. Regardless, when you use factoring from Charter Capital to grow your business, your bottom line should increase because the additional profitable business you are now able to add and should more than offset the factoring costs.
How Do You Know Charter Capital is the Right Factoring Company for You?
If you are a small business to mid-sized business owner who has made the decision to factor your invoices as a way to keep cash flow going, you need a factoring company like Charter Capital. Charter Capital provides your company with the experienced business finance professionals you need.
Factoring Is Your Simple Cash Flow Solution.
At Charter Capital, the process is very simple. Your first step is to contact us. Give us a call or fill out our online application. This process should take you just a couple minutes and we will be able to contact you with pricing in less than 24 hours. Once we have set you up with a Charter Capital FactorLine, obtaining cash for your accounts receivable in less than 24 hours is simple and easy.
- You provide your service or product to your customers as you always have.
- You continue to bill your customers as you always have.
- You submit your invoices that you want to factor to Charter Capital along with our simple factor form.
- We wire your funds directly into your bank account. Typically, in less than 24 hours.
- We wait for your customer to pay us directly. When we receive payment, we notify you on the same day.
- You continue to grow your business, free from the worry of your cash-flow.
Benefits of factoring with Charter Capital
Factoring is key to growing your business. With a Charter Capital factoring relationship, you are free from many of the restrictions placed upon your business by traditional bank financing. Most importantly, with Charter Capital, you are free to grow without having to give up equity or control of your business.
Call or contact Charter Capital today.
Call us toll free at (877) 960-1818 or email us today to find out how easy it is to set up a Charter Capital FactorLine. One of our account representatives will be happy to visit with you about setting up a factoring relationship with Charter Capital.