Single Invoice Factoring
- The ideal solution for companies simply in need of immediate cash
- Does not require a multi-year contract
- Provides the company with the flexibility of selling invoices to Capstone, only when working capital is needed
- No obligation to sell a minimum number of invoices per year or over the term of a contract
Spot Factoring is especially helpful in the area of construction financing. If you are a Contractor or Subcontractor and are going to be working on a large new construction project, you may have a lot of one-time capital needs as you begin work. Spot Factoring can be an excellent solution for you to cover supplier costs or payroll on an as-needed basis. There is no contract or obligation. Once the project is completed you no longer have that gap in cash flow and you don’t have to continue selling your invoices to the third party.
The process is pretty straight-forward (Funding Example below for $100,000 invoice)
ABC Contractors is awarded a commercial construction contract from XYZ Customer
ABC Contractor submits Application to Capstone Financial
ABC Contractor sends XYZ Customer a Debtor Letter that Capstone is involved in the funding process
ABC Contractor invoices XYZ Customer for $100,000
XYZ Customer approves the invoice by signing the following Estoppel Document
Capstone pays ABC Contractor $70,000 immediately.
XYZ Customer writes a check for $100,000 made payable to ABC Contractor and mails the check to a lock-box which is controlled by Capstone.
If the invoice is paid within 30 days, Capstone will pay ABC Contractor $27,000 and keep a finance fee of $3,000 for its service.
If the bill is not paid within 30 days, Capstone will charge a fee of one percent.
In the above, example the if XYZ Customer pays the bill within 40 days Capstone will pay ABC Contractor $26,000 and keep a finance fee of $4,000 for its service.
Please contact EWbizservice for more info at 360-229-7945
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