Factoring
Company Links
Why Factoring is Necessary
Your Factoring
Company Benefits
Comparison of
Factoring to
Traditional
Funding
OCF Factoring Company
- Providing factoring services nationwide
- Over 70 years of factoring company experience
- Up to 97% Advance Rates
How Factoring Works
The First Step:
The Client profile
You begin by filling out a simple client profile, which we will provide you. Please click here for profile. This
profile
will cover basics such as your company's name and
address, the
nature of your business, and information
about your customers.
You may need to supply an accounts receivable aging report, existing
customers' credot limits, or other related documents. Remember the
factor will attempt to determine the creditworthiness of your customers
independent of their credit history with your business. We want a
broader view of their
overall credit status.
During this initial stage you will also cover basic financial
arrangements with the factor. For instance, what will be the monthly
volume of invoices you want to factor(i.e. how liquid do you need to
be)? What will the advance rate and the discount rate be? How quickly
will the factor issue the advance to you?
In most cases, the answers to these questions will vary depending on
the financial strength of your customer(s) and the anticipated monthly
sales volume to be factored. Variations between industries, length of
time in operation, and general reputation of how risky a customer of
yours may be. For instance, a long list of high-risk clients will cost
you more in factoring fees than a short list of government agencies
with a slow-pay history.
In the factoring business, volume is all important. The higher your
volume(the dollar amount of invoices you factor), the more favorable
your rates will be.
The factor will use the client profile you submit to determine if your
business is suitable for factoring. This process is simply the factor
analyzing the risks versus the rewards, using the information you
provided.
Once approved, you can expect to negotiate terms and conditions. The
negotiation process takes several aspects of the deal into
consideration. For instance, if you want to factor $10,000, you can't
expect as good a deal as a company that wants to factor $500,000.
During the negotiation process, you will become well aware of what it
costs to factor your accounts receivable. After you reach an agreement
with the factor, the funding wheels begin to roll. The factor conducts
due diligence by researching your customers' credit and any liens
placed against your company. The factor also confirms the legitimacy of
your invoice before buying your receivables and advancing cash to you
To find out how we might structure
a factoring deal for you, please complete our online account receivable financing request form.
To
talk with a member of our sales team,
please contact one of our regional offices at:
Toll Free: 888-266-0197
and ask for Andrea
Fax #: 425-702-1874
Email: andrea@ocf.com
What Sets Us Apart
Our program includes the following
features
• Same Day funding on approved
invoices
• We do not require a long term contract.
• 97% advance rates; tops in the industry
• Credit analysis on new
and existing customers
• Continuous collection management and
follow up on
factored invoices
• Invoice and statement mailing (postage included)
•
Account status inquiries anytime;
24/7 online account access.
Our flexibility allows you to maintain control:
• You select accounts you prefer to
factor
on an invoice by invoice basis.
• You control total factoring costs by only
, factoring on an "as needed" basis.
Up
to 97% Advance Rates:
Advance rates are based on overall risk
associated with a particular industry as
well as experience and track record.
We
hold reserve accounts to accommodate
industries which typically experience
dilution
and that we would otherwise not be able
to service. Advance rates range
from
80% to 97% of the gross invoice amount.
Fee
Structures:
Fees are determined based on your
industry,
the credit worthiness of your customers,
how quickly your invoices
turn, and
monthly factoring volume.
OCF provides individualized customer
service,
by tailoring our flexible programs to fit the individual
needs of each
of our clients. We strive to
be responsive, handling receivables
with speed,
efficiency, and a personal touch.
As a client you are assigned one account
administrator who will personally handle
all of your account activity and
inquiries.
This gives us the ability to buy your r
eceivables and get the money
to
you within 12 to 24 hours.
Having one person look after your account
also
makes it easy for you to decide
which invoices you are going to sell and
when
you want to sell those invoices.
Our funding is
primarily done by
direct deposit or wire.
OCF has more than 70 years of
successful
cash flow and credit management experience,
experience we would love
to put to work for you.
To talk with a member of our sales team,
please contact one of our regional offices at:
Toll Free: 888-266-0197
Fax #: 425-702-1874
On-Line Factoring
Request Form
Email Us
Site Map
We are currently factoring account receivable financing nationwide including the following states: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho State, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York,
North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.
Our Factoring Programs Can Help You Double
Your Sales
Let Us Show You How
To talk with a member of
our sales team,
please contact one of our regional
offices at:
Toll
Free: 888-266-0197
On-Line Factoring
Request Form
Email Us
