Invoice Factoring In Second Position
If you have found our second position invoice factoring website you have most likely been told by a factoring company that they cannot factor your invoices without having a first position UCC in place. This was a common issue for growing companies that could benefit from invoice factoring, but they have a bank in place that will not give up a first position UCC to allow for invoice factoring. We have put together a second position factoring program just for this common need. We encourage you to explore this unique option with us and please share our program with the very same factors that told you no one could factor your invoices if a bank had a first position UCC that would not be terminated. This is simply no longer accurate.
FactoringFast.com has changed the invoice factoring rules by creating a second position factoring program that fills a void in the factoring industry. No longer are you forced to pay off your bank line of credit to start a factoring relationship and you also can factor invoices if your bank will not subordinate the accounts receivables. We don’t need a UCC termination or a UCC subordination as we will file our UCC behind your bank in second position. By completing our fast online factoring quote application you can find out if second position factoring makes sense for your business. If you prefer, you can discuss your second position funding needs over the phone by calling our toll free number at 1-888-897-5470 and get a factoring quote within twenty four hours. Most factoring companies will tell you that your out of luck if your bank will not release a secured position on your receivables and that is no longer the case. We have streamlined the second position factoring process for our clients and understand that you need creative funding options and not the same old school lending rules most factors still have in place.
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OTHER BENEFITS THAT CASH FLOW FACTORING CAN PROVIDE:
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- – Get funding you need with your bank in place
- – Increased sales opportunity with additional working capital
- – Credit review of potential customers included
- – Flexible funding use us when you need us
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Same day funding is provided for factoring clients. The invoice submission process is done by fax, or scanned images. We will then confirm your invoices and proceed with funding to your selected business bank account. Your customers will then send the payments to our lock box and any funds not advanced are released to you less the accrued factoring fee.
INDUSTRIES THAT MAY BENEFIT WITH SECOND POSITION FACTORING :
- Staffing Companies – Accounts Receivables Factoring can provide payroll help even if your bank will not loan more.
- Manufacturing Companies– Accounts Receivables Factoring can cover cash flow gaps if your bank line is maxed out.
- Distribution Services– Get additional funding for new customer needs.
- Technical Consulting – Cover payroll needs as projects require.
- Cable and Wire Services – Take on new projects.
- Companies Selling to Retailers – Take those larger orders knowing we can factor invoices behind your bank.
The factoring industry is just discovering that invoice factoring can be done in second position. No longer is it required to have a first position UCC in place to factor invoices. No longer is it mandatory that your bank holding the UCC subordinate the accounts receivable so you can factor invoices. Second position factoring is available now and our fastest growing factoring product.
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