Step 1: Submit Invoice
Send your invoice to your customer and Synergistic Investments.
Step 2: Get Paid
Our lenders will advance you up to 90% of the invoice value within 72 hours.
Step 3: Customer Pays Invoice
Our lender follows up on your invoice, collects payment, and sends you the remaining balance, minus our fee.
WITH EXTRA CASH FLOW, YOUR COMPANY CAN
Factoring is a form of Invoice Finance that can ease your cash flow worries by bridging the gap between raising an invoice and getting paid. Your company will get an immediate cash advance based on your outstanding receivables, and an ongoing supply of working capital as you generate more invoices.
We consider a factorable business to be any company that provides goods or services to credit-worthy commercial customers.
This is your customer. If you are a trucking company, your customer is the party who hired you to transport their goods. If you are a publication, your customer is the party who has paid for advertising space. If you are an employment agency, your customer is the party who is looking for new employees and has hired you to find them.
Factoring companies buy invoices from their client. A factoring company will then pay the client up to 90% of the face value of the invoice(s). The factoring company collects the total invoice amount due from the client’s customer (the debtor), and passes on the remainder of the funds, less a fee back to the client.
Fill out the form here, or contact our offices and we will send you a simple, no-nonsense proposal via e-mail. If you like what you see, all you have to do is click on the application link in your proposal. In most cases, Synergistic Investments can take your business from application to funding within three business days.
No. You are free to factor as many invoices as you desire for any period of time within the framework of our service agreement.
No. You can factor as little or as much as necessary, given, that your customers qualify and their invoices meet underwriting guidelines.
No. Only current business invoices will be considered.
All payments for factored invoices are sent to the factoring company, directly.
Yes. Location is not an obstacle. We work with businesses in all 50 states.
No. Factoring is based on the invoice’s face value and the customer’s ability to pay.
Generally, fees are based on a projected volume of business the factoring company will receive. This can differ from one factoring company to another.
Invoices that are unpaid are charged back to you. Once an invoice has been charged back, it is no longer the factoring company’s responsibility. It has now become your responsibility to collect the monies.
During the application and approval process, we focus on the creditworthiness of your customers, while banks focus on your company’s financial history and cash flow. Accounts receivable funding is not a loan; therefore no debt is entered on your company’s balance sheet. We can make a quick funding decision, while banks may take weeks-even months-to approve a loan.
We take into consideration many variables, some of which include your sales volume, your customers’ credit strength, trends in customer payment cycles, invoice amounts, and the current climate of your industry.
Our one-page application, your company’s most recent accounts receivable and accounts payable aging reports, Articles of Incorporation or dba filing, and a sample invoice.
Although factoring has become quite common and many customers have probably sent payment to factors before, we are virtually transparent. We understand that customers are the most valuable key to business. We intend for you to maintain your customer relationships, so the way we communicate with them is respectfully designed to protect your good will.
Here is how this process works:
The last thing we want is for you to lose a customer. We are not a collection agency, so we will never harass your customers. Maintaining your customer relationships is of utmost importance to us. We only succeed if you succeed.
Since it is your customer who pays us, we concentrate more on their creditworthiness. We have helped many companies in their early stages grow into profitable entities.
In most cases, yes, depending upon the lien amount in relation to your monthly volume and the details of the workout agreement you have with the government agency.