|
|
|
|
|
- Q:
Does 1st American purchase our Receivable
(invoices) ?
- A: Yes, That
is exactly what we do. We do not lend you the
money, we make an outright purchase of the
financial rights to the invoices at the time of
billing.
- Q:
How Does 1st American collect ?
- A: The same
way you collect: by invoicing your client for the
service you preformed.
- Q:
How Will My Customers React?
- A: It depends
on how you react, if you're positive about this
new line of credit so will they. In fact,
your new credit source with 1st American will help
you provide a better product by allowing you to
concentrate on your business instead of worrying
about your unpaid invoices. Most fortune 500
companies are familiar with factoring and the need
for it.
- Q:
What Are Your Requirements for Buying An Invoice ?
- A: The work
or service must have been completed, delivered and
accepted; and your client must be a credit worthy
risk
- Q:
Can we qualify with a history of credit problems
such as bankruptcy, IRS liens or judgments ?
- A: Yes, it is
possible, please contact us to discuss your
situation.
- Q:
Can we qualify if we already have existing credit
lines or SBA loans?
- A: We
compliment and work in cooperation with your
existing lenders to enable you to access even
larger amounts of funding.
- Q:
Can we qualify even if we are just starting in
business and have no credit history ?
- A: Absolutely
you can, if you have creditworthy customers.
- Q:
What Will It Cost Me ?
- A: We publish
our rates so that you know exactly what each
transaction will cost. Check out our
RATES.
- Q:
How Does 1st American Make Money ?
- A: We get our
Fee when the invoice is paid. We buy the invoice.
-- We do not lend you the money. We get paid to
wait.
- Q:
What Type of Receivables Can I Sell to 1st
American?
- A: About any
valid receivable for a service preformed or a
product delivered to any Business or Governmental
entity.
- Q:
Do I have to sell my future receivables to you ?
- A: NO. Sell
us one invoice to see if the service works for
you. If you like it, continue; if not, walk away.
Later if you need our service you are already
established as our client and are ready to go.
- Q:
What happens if my client does not pay ?
- A: Our due
diligence is a very important part of the
factoring process. We purchase all of our accounts
on a non-recourse basis, so any default on your
customers part after all other avenues of
collection will result in litigation. We will
include your company in the process not to disrupt
your relationship. We are taking the risk which
somewhat explains our fees.
- Q:
Are there any geographical restrictions to your
service ?
- A: No, any
credit worthy business or government agency in the
USA. International receivables may require special
arrangements.
- Q:
Will factoring be good for my business ?
- A:
Receivables financing has helped thousands of
businesses. At 1st
American we help your business to GROW without
getting involved in your day to day
business.
|
|
 |
|
|
|
©2002 1st
American Factoring
|
|
|
|
|
