[do action=”div_start” class=”left_col”/]What is Factoring?Simply put factoring is the sale of an invoice or several invoices where you receive 80-95% of the invoice right away. We wait for the invoice to pay 30 or 60 days later and depending on the time the invoice was outstanding and how much you factor, we apply a fee or discount. Once the fee is applied and any short payments are accounted for we refund the difference.
Why wait for the invoices to pay when you can get your money now!
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Example:
| Your Invoice is | $75,000.00 | ||
| With 85% advance you receive | $63,750.00 | ||
| 15% is the reserve for fees and shortfalls | $11,250.00 | ||
| If the fee is 4% you pay | $3,000.00 | ||
| If the invoice is paid in full without any offsets or short payments you will receive the rest of your reserve (11%) | $8,250.00 |
Once you are a Newport Funding Client we fund same day or within 24 hours.
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Cash Management Made EASY
(905)637-5000
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