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What Is Account Receivable Factoring

Invoice factoring is an established financial service whereby a factoring company purchases outstanding account receivables.

Who Gets the Money From Account Receivable Factoring?

The client (you) are advanced up to 75% of the value of your account receivables and then the client (you) receives the balance of the value of the invoice upon collection (minus the factoring company fee).

Is Account Receivable Factoring a Loan?

No, factoring is not a loan. No new debt is incurred. Factoring is defined as the purchase of a company's receivables. This is not a loan where the receivables are used as collateral.

Will My Paperwork be Doubled?

No. Midwest Factoring Service will forward your prepared invoice to your customer and then follows up to be sure of prompt payment. We then report those payments to you. We provide reports detailing your purchases & advances, reserve account, and accounts receivable aging.

Will Someone Try to Tell Me How to Run my Company?

Of course not! Traditional funding sources expect to profit from your future success by assuming equity in your business and/or taking an active role in decision-making. Factoring improves cash flows, but leaves you in control.

Is Accounts Receivable Factoring a Slow Process?

Actually, the opposite is true. Midwest Factoring Service can advance cash in as little as 48 hours of receipt of a factored invoice and the required supporting documentation.

Do I Need to Sell (factor) All of My Invoices?

No. You decide which invoices you need to factor to manage your cashflow in the best way.

Does Midwest Factoring Service Serve Only the Midwest?

Give us a call from anywhere in the US. Midwest Factoring Service works with companies and transactions throughout the United States, from coast to coast.

Does My Business Have to be a Certain Size?

Factoring can help businesses just starting out, or established firms whose cash flow has slowed. And, because factoring frees capital frozen in accounts receivable, it helps clear the way for growth-oriented companies.

What Other Services Does Midwest Factoring Service Offer?

The Midwest Factoring Company provides:
  • Account receivable purchasing
  • Invoice factoring service
  • Asset Based Funding
  • Consulting
  • Expansion Funding
  • Government Contractor Development
  • Purchases & Advances Reports
  • Reserve Account Reports
  • Account Receivable Aging

Will I Have to Provide My Tax Returns?

In some situations, it is necessary to provide tax returns, financial statements, and profit & loss statements (P/L).

What About Our Rates?

Rates are determined based on a combination of the creditworthiness of your customer base, average payment cycle, invoice size and the volume of invoices you factor.

Midwest Factoring Service offers varying rates in relation to the size of your company, frequency of transaction and the type of deal. Once your rates are fixed, they are not subject to change. We run on a fixed rate system that is not affected by the prime rate or by fluctuation in the stock market. Complete our form, or call us at 419.841.1749 and we'll give you a free quote, based on your information.

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