Q: How do I get started?
A: All we have to do is work through a simple worksheet together. This will provide my funding source the information to evaluate your needs.
Q: How much cash can I get?
A: The amount of cash available to you depends on the safety of your income. The worksheet will provide the funding source with your information in order for them to give you an offer.
Q: How soon can I get the money?
A: It will take several days for my funding source to review the transaction. After that the closing & funding process usually will take 3 to 4 weeks. This may vary depending on the transaction.
Q: How long will it take to open my account?
A: When you are approved, it will take about 10 days to set up your account and begin funding. Of course, the sooner we complete the profile the quicker we can get started. This may vary depending on the transaction.
Q: How much will it cost?
A: My funding sources price income streams according to their yield requirements. To determine the yield requirements on your income stream, we will need to complete the basic information on the worksheet. Then we will be able to give you an accurate quote. This may vary depending on the transaction.
Q: What is generally fundable?
A: Large portfolios, generally $100,000.00 or more having numerous debtors involved. Funding sources prefer to buy from companies who can supply an ongoing stream of new delinquent debt.
Q: What is generally not fundable?
A: Smaller portfolios, under $100,000.00. Uncollectible debt, resulting from bankruptcy filing.
Q: If I have been turned down for a bank loan can I still qualify?
A: Yes, your credit rating is less important than is the credit of your payors.
Q: Besides smoothing out my cash flow, what other benefits are there to working with a funding source?
A: Access to unlimited working capital improves the credit rating of the provider. Capital is available to reliably meet payroll and other debts. Funds can be easily drawn to cover growth, new equipment, and it improves your balance sheet.
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