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How Does Factoring Work For My Company?

No matter if it’s a good time or a bad time for the economy, businesses may still need liquid capital to enhance its cash flow cycle and when you’re waiting on capital from your clients, you need that cash more than ever. Consider factoring your company’s invoices to access that capital and don’t worry if you haven’t heard of factoring before. If you’re wondering “what is factoring?” or “how does factoring work?” United Capital Funding is here to help. 

So, How Does It Normally Work?

Choosing factoring can be an easy choice, but we can help make applying for factoring services even easier. While each company is different, we make our process simple and accessible at UCF. 

After you submit an application, it takes about one business day for approval to process. Once approved, our team works with you to fully onboard your company as a client. Then as a client, you are able to send us your eligible invoices for factoring. Typically, we advance 80% of the full invoice value and hold the remainder until your client sends payment. When we receive the full invoice payment from your client, you’ll receive the remainder, minus our service fee. Sounds pretty easy, right?

Thanks to the work of our team, it can be an easy process. When you choose UCF, our team steps in to operate as your accounts receivable department to service the invoice. As we do so, your client pays us, and we work to get your money to you sooner rather than later. And, thanks to our transparency, we’re proud to show how low our fees are.

But, depending on the company you choose, you could have a handful of hidden fees. Additionally, depending on the amount you’re factoring, these fees could take a significant amount of your cash. Find out more about why UCF is the best choice for you and begin getting the cash you deserve.

Can UCF Help My Company?

At UCF, we’re always looking to help our customers. Currently, our main clients include the following industries:

  • Government: B2G deals are often exciting, but it takes a while to receive payment from many government entities—that’s where we come in.
  • Manufacturing: It costs money to create products for other companies. But, how can you when you don’t have the funds? 
  • Security Guard: Your company is designed to protect others, so who is protecting you and your staff when the money dries up? Trust in us to help you get the money you worked for.
  • Service: Although this encompasses a large amount of different industries, we’re more than happy to help. We know that invoicing has its challenges, and those only grow as you’re left waiting for payment. Let us help you navigate this situation.
  • IT: Technology is more important than ever in today’s economic climate, but if these companies don’t receive payment when they need it, they have no choice but to close shop. Factoring is available to help these groups to stay afloat.
  • Staffing: Your staff needs to be paid for the work they’ve already done, but if you don’t have the fees to do that, how can you? Rely on UCF before it happens.

Although these are our main industries of specialty, we do provide services to more industries. To see if we can partner with your business, give us a call. We can’t wait to help you out.

Find Out More About How Factoring Works From The Professionals

Do you want to know more about how factoring works? We’re happy to answer any of your questions. Give our team a call at 866.647.2680 or send us an email at info@ucfunding.com. Or feel free to look through our other informative blogs. Our team is always working to provide our clients with useful information and resources. Don’t jump into an unnecessary loan. Begin your UCF experience with us today, and use your assets to your advantage.

Article Posted On: May 08, 2020

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