Does Apex require additional collateral when my company is factoring? Never. Its the Apex Advantage. How will my customers know where to send the payment? When you factor with Apex, we send notification letter to your customers identifying us as your funding source and request that all payments be sent to us. How will know the status of my factored invoices? We have just upgraded our online account management system. funded in hours. Fast Funding As sales increase, more cash becomes available for you to use, which allows you to constantly meet demand.
Credit Checks We have the reliable and accurate credit check system of any factor. If your customer is smaller company, they will be inclined to pay faster knowing that we, as Factor, are prime reporter of credit information and an influential creditreference resource. Freight Bill Auditing Each time and invoice is submitted we audit the invoice for accuracy and all payment information.. The balance due to you of 10,000 minus our minimal fees will be paid to you when your customer pays the invoice. What reports does Apex provide? Below is list of the available reports.
Who is responsible for collections? We encourage you to actively participate in the collection process, however we have very professional team of collectors to do this for you. Initial funding can take anywhere from couple days to hours. How does factoring differ from bank funding? Factors make funding decisions based on the creditworthiness of your customers bank makes credit decision based on your companys financial history, cash flow and collateral. Factoring Best Practices At Apex, we believe in being up front, open, and honest.
Your business sells almost entirely to less than creditworthiness customers. Your business operates on low margins. We spend considerable amount of time verifying receipt of this letter. Does Apex require additional collateral when my company is factoring? Never. How much money can from factoring? We typically advance you between 90 of your receivables immediately, and the balance minus our fees when invoices are paid. If you need last minute credit check or payout of your reserve, your account executive will be there for you. We are pleased to provide this service. Do need to factor all my invoices?