Finding a factor finance company that allows for the financing of invoices for goods and services that have not been preformed (Pre-Billed)
Factorbid.com can help! We get you a few offers from the top factoring companies in any industry. Locating a few factors that specialize in any specific industry is difficult. Fortunately we’ve been in the small business financing industry for years, even before we designed and deployed our online mobile enabled matching service called factor bid.
Take advantage of years of experience that we have in working with the top factor finance companies in every industry. Factor bid quickly and securely matches your business industry financing needs with factor finance companies that specialize in your industry, so you get the most competitive offers right away.
Challenges of Invoice Financing:
Pre-Billed Invoice financing – If your trying to factor an invoice for work that has not yet been completed or the product has not yet been fully delivered, most factoring companies will determine this type of invoice as UN-FACTORABLE until the work is completed or the product is delivered.
Factor bid works with all the top factor finance companies that offer hybrid factor financing programs that can factor PRE-BILLED invoices under certain conditions.
- Advance of the full invoice amount up to 80-85%
- Rates in as short of 10 day increments, 15 days on average
- 50% of the advance to be made day 1, the balance on day 16
- Verification to be made on a case-by-case basis
- Most industries accepted
- First security position is required
- Can work with other forms of financing in place with proper subordination and subject to credit approval
Total processing time for these type of hybrid financing models can take a few days longer than standard 24 hour processing. To get a few offers from competing factors and see which hybrid program fits your business financing needs, visit factor bid website and select the “Let’s Get Started” button.