What is factoring?
Factoring is a financial transaction and a type of debtor finance in which a business sells its accounts receivable (i.e., invoices) to a third party (called a factor) at a discount. A business will sometimes factor its receivable assets to meet its present and immediate cash needs.
What is factor.bid?
Factor.bid is the first and only online marketplace for business owners to SHOP their accounts receivable invoices. When Factors compete to buy your invoices, You Win!
Is factor.bid free?
Yes factor.bid is free for business owners selling their invoices - download Factor app or use your computer to submit your business invoices today!
Can I factor any industry type of invoices?
Yes, factor.bid has all types of different factoring banks looking to buy your accounts receivable business invoices.
Can I start using factor.bid today?
Yes you can start using factor.bid right now. Download the app, snap a picture of one of your invoices, tell us the amount of the invoice and about how many invoices you receive a month.
I've downloaded the app and submitted my invoice. Do I need to do anything else?
Yes, you need to be available for the next hour, as you will be contacted with offers from a few different Factors to buy your business invoices.
Will I get paid today?
Yes you can get paid as soon as today. The Factors will contact you by calling or emailing you (depending on the contact method you selected within the app) to discuss what works best for you. You decide which Factor offer fits you best.
Is my information secure when using Factor.bid?
Yes your information is always secure. Please review our terms for additional details and information.
Can I share Factor.bid with other business owners, friends and business associates?
Yes please share factor.bid with your business contacts. Accessing cash flow is important in keeping your business competitive and running strong. Vendors and other businesses you work with can benefitfrom Factoring too. Together you and your business associates can grow your businesses faster for greater success!
Am I obligated at any time?
Your main obligation should be to your business. Do what's best for your business. Use Factor.bid (Factor App) to gain leverage when selling your accounts receivable invoices.
There are some additional question I have, can I contact someone?
Yes, if you have additional questions, we're here to help. Please feel free to email us support '@' factor.bid (we will do our best to contact you right away). Thank You.