Does my company need Good credit?
No. Due to the fact of being paid through your customer, ICA and the FACTOR are more concerned with the financial strength and credit of your buyer.

How fast can I receive my money?
In most cases we transfer the pre-determined advance within 24 to 48 hours of receipt of your invoice and any additionally requested documentation.

Is there a lot of paperwork required?
No. Initially all you need to submit is a completed application and a few other required documents. All, of this can be completed in as little as 15 minutes.

What if our business just opened?
As long as you are selling goods and or providing services to credible companies, the FACTOR will finance your invoice, even if it is the first order your new business has shipped.

Can factoring boost my revenues?
In addition to improving cash flow for your company, ICA and our partners have worked productively with many of our client’s vendors to secure credit terms. This has allowed our clients to get the inventory they need to fill their orders.

Who collects from the customer?
The FACTOR takes this responsibility. Our investors and lenders are very skilled in their approach and our history with our customers shows we care about maintaining good relationships with your customers.

What if my customer does not pay after the FACTOR buys the invoice?
You may elect to take advantage of credit insurance. This enables you to pass the full credit risk to the lender should your customer not pay for credit reasons. Some lending sources will require the refund of any paid advance or simply will ask you to replace the delinquent invoice with an invoice in good standing.

How does the cost of Factoring compare to other types of lending or financing?
The cost of Factoring has decreased substantially over the last few years, to the point where there is little difference compared to traditional lending products. Also consider  you are doing all the A/R management. The cost is driven by the amount of risk, the quality of the collateral and the amount of work involved.

Do borrowers need to be profitable to Factor their accounts?
No. While many profitable companies choose to utilize Factoring for growth, acquisitions and other purposes, financially troubled companies find that Factoring provides the working capital and flexibility to institute their turn-around plan. When evaluating a potential borrower, the lender concentrates more on the collateral, the quality and experience of management and the story behind the turnaround, than on historical profits.

Will you purchase accounts from a company in bankruptcy?
Yes. Also known as debtor-in-possession financing, chapter 11 financing is a method for companies to obtain working capital while going through reorganization. Factoring can be utilized to fund the confirmation plan and exit bankruptcy proceedings.