Accounts Receivable Factoring
Bankers USA
Factoring Program, Full Notification, Non-Recourse
Use of Factoring Facility:
- Project Financing
- Business Growth Financing
- Business Acquisition Financing
- Bridge Financing
- Financing Working Capital Needs
- Realization of Supplier Discounts
- Crisis Management
- Debtor-In-Possession (DIP) Financing
- Program is Available Nationwide -
Client Profile
Bankers USA will provide factoring to a broad array of industries with good quality receivables.
Factoring Sales Volume
Annual Factoring volume of $1,000,000 - $50,000,000
Rates
Typically 2.5% of the face value of the purchased invoices for each month that account receivable is outstanding. No other fees charged either on the dollars outstanding or for the facility.
Factoring Terms
Generally two (2) years.
Collateral
UCC filing on all assets. (Will subordinate or release on assets other than Account Receivables to allow for funding from other sources.)
Advance Rate
Up to 75%
Personal Guarantee
None, Bankers USA assumes the credit risk of non-payment.
Performance Guarantee
Performance guarantee by principals to deliver conforming goods and proper services to customers is required.
Audit Requirements
None. No certified financial statement required. No audit by Bankers USA of financial performance.
Closing
Typically under two weeks from initial contact to funding.