WHAT'S MY CLIENT'S REACTION WHEN I SELL MY ACCOUNTS RECEIVABLE?
Not one of the firms we've serviced has ever lost one dollar because of its relationship with us. When you factor with us, you'll never have a problem with your clients provided you can answer the following two questions "yes". 1. Have you delivered the goods or services required of you? 2. Is the invoice amount correct and due and payable as rendered?

DO YOU BILL ON YOUR LETTERHEAD OR OURS?
Either way. It's up to you.

CAN YOU GIVE ME AN EXAMPLE OF HOW FACTORING WORKS?
You're ready to invoice your client. The face amount of the invoice can be $100 (it could be $300,000) Call us. Indicate your desire to turn the invoice into immediate cash. Get the invoice to our office ready to bill to your client. We process the invoice in 24 hours. Then, we advance you 70% of the invoice amount. When we receive payment, we send you the remaining 30% minus our fee.

Is accounts receivable funding a new financing option?
Accounts receivable funding is one of the oldest forms of financing. It has been around in one form or another for more than 4,000 years. Until the mid 1980’s, most people thought accounts receivable funding was only used in the textile and garment industries. Today, accounts receivable funding is a widely used and viable financing solution for all types of businesses that extend credit terms to their customers.

How can accounts receivable funding help my business?
By providing an immediate source of cash flow for your company. You can use this cash to provide working capital, meet payroll, pay taxes, replenish inventory, increase advertising, purchase equipment, improve your credit rating, and more.

How is accounts receivable funding From BIG Funding Group different FROM accounts receivable financing from a bank?
When making a funding decision, BIG Funding Group will focus on the creditworthiness of your customers while banks will focus on your company’s financial history and cash flow. Best of all, BIG Funding Group will make a quick funding decision, while banks may take weeks—even months—to approve a loan.

Will my company be eligible for accounts receivable funding if it has a bank loan or line of credit?
If a bank has a lien on your company’s accounts receivable, you should let us know right away. We will ask the bank to subordinate the lien in favor of BIG Funding Group. This is a common occurrence and most banks will accommodate the request, but the information must be known in advance.

My company owes back taxes. Can I still apply for accounts receivable funding?
Yes. Tax problems are handled on a case by case basis. Please let us know immediately so that we may discuss the payoff of your back-taxes or lien subordination with the IRS.

I have had a past bankruptcy.  is accounts receivable funding still an option?
Yes, BIG Funding Group will still consider your application even if you have had credit problems or a past bankruptcy.

What information will BIG Funding Group need from my company to begin the accounts receivable funding process?
Along with this application, be sure to include your company’s most recent accounts receivable, and accounts payable aging reports, Articles of Incorporation or DBA filing, a master customer list including addresses and phone numbers, a copy of your passport or drivers license, and a sample invoice with sample supporting documentation (i.e. Proof of Delivery, Order, Contract, etc.). For startups, please also submit a business plan and projected sales forecast and an owner/officer history and profile.

Which customers would be good candidates for accounts receivable funding?
We look to fund all your customers. First we need their names, phone numbers, addresses, and the amount of credit desired. This will save you time when submitting invoices to us. Also, anytime you obtain new customers, fax the same information to us, and we will check them for you.

How long does it take to receive the first funding?
The initial funding takes between 1-3 business days after we receive your signed contract. If you wish, you can send your invoices to be funded with the signed contract. After the initial funding, your company can receive funds usually within 24 hours after verification.

Does BIG Funding Group purchase outstanding invoices?
Yes, for the first funding only, we can purchase your invoices from your outstanding accounts receivable subject to verification.

Are accounts receivable funding fees tax deductible?
Accounts receivable funding fees are a business expense and may  be treated as such.

Does BIG Funding Group verify invoices with my customers?
Invoice verification is an essential, and accepted, part of funding. Because factors verify invoices with customers, they can tell clients if there is a customer service problem right away. A non-factoring client may not notice the problem until the invoice becomes past due. By that time, it may be too late to save the account. For the process to run smoothly, we suggest that you call your customers or send them a letter in advance to let them know that you are now working with BIG Funding Group. If you need assistance in writing the notification letter, we will be happy to provide you with a sample letter.

What should I do if my customer mistakenly sends the payment to my company?
This might happen, especially with the first invoice. If this occurs, the check must be sent to BIG Funding Group immediately. Please notify your customers to pay us directly in the future.

How can I be certain that BIG Funding Group will treat my customers well?
The last thing we want is for you to lose a customer. BIG Funding Group is not a collection agency. We will never harass your customers for money. Maintaining your customers’ goodwill and confidence are of the utmost importance to us!