How Does Factoring Work?
Factoring is simple! First, contact us. We’ll ask you some questions and pair your company with the Colorado factoring company that best fits your business.
From there, the factoring company will run your business through a quick approval process. Once your company is approved. You run your business and serve your customer as usual, submitting the invoices from the work completed. Then, the factoring company calls your client to make sure your business provided them with either goods or services.
After that, your business can start sending invoices to the factoring company. The factoring company will advance you up to 95% of the invoices with the rest being the reserve. Once your client pays the invoice, the factoring company verifies it with your customer. The factoring company will release the remaining amount to your business, minus a small factoring fee, once your client pays the invoice.