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Funding Network, LLC
Southern Capital Funding Network, LLC
THE WORKING CAPITAL YOU'VE BEEN LOOKING FOR!
Receivable Financing, also known as Factoring, boosts your business cash flow by providing your business an immediate advance of cash against the value of your open invoices. The typical advance rate is 80% but can be higher for certain industries.
Factoring is a broadly accepted financial tool for accelerating cash flow and avoiding the problems associated with slow-paying customers. Your business should not be turning down orders from new customers because your cash flow is tied up in your outstanding invoices or worrying about when your customers are going to pay you.
Factoring could be a solution to your cash flow problems as well as a way to obtain capital for your business growth and expansion. By factoring your receivables, your company has access to funds that would not be available during a normal billing cycle.
We can price your business on a 'traditional' factoring basis where our fee is based a percentage of your outstanding invoice amount. Alternatively, we can also structure your facility where the fees are linked to the Prime rate or LIBOR rate of interest which is more like a bank line of credit approach. Both options are straightforward and our fees fully visible to you in all of our reporting.
It’s Quick! It will usually take 48 hours to get your first funding set up. We understand your needs and have a process in place to get you started quickly.
It’s Easy! We offer our services to new and existing companies. Once you set up an account with us, then you go out and perform your service or deliver your product or goods. Once you have completed your sale or service, you create your invoice as normal and send it to us!
It’s NOT a Loan! Factoring is not a loan therefore it will not show up on your company balance sheet, nor will it show up on credit reporting agencies. We base the majority of our decision on the credit of your customers rather than your personal credit or your company credit profile.
We have the best online services in the industry and you will have complimentary 24/7 online access to your account.
You will be able to see copies of your customer’s checks that we have received.