Frequently asked invoice factoring questions
- What does Platinum Funding Group, a leading factoring company, provide ?
- How does invoice factoring, commonly called accounts receivable factoring, work ?
- How can I benefit from the products and invoice factoring services that Platinum Funding Group offers ?
- Who may need Platinum’s factoring services, including, but not limited to, accounts receivable financing and accounts receivable management ?
- Who are Platinum Funding Group's invoice factoring clients ?
- What qualifications do prospective invoice factoring clients need ?
- What don't we fund through accounts receivable financing ?
- How quickly can funding through invoice factoring be arranged?
- Why should companies finance their receivables and partner with factoring companies ?
- When was Platinum, a leader among international factoring companies, founded ?
- How do I contact a financial advisor at Platinum, a premier invoice factoring company ?
- Where are Platinum’s invoice factoring offices located ?
- I want to join your invoice factoring team. Can I become an introducer/broker ?
What does Platinum Funding Group, a Leading factoring company, provide?
We are an international factoring company that specializes in the factoring of invoices, known as invoice factoring. Invoice factoring, or accounts receivable factoring, involves the purchase of invoices, or of accounts receivable, by a non-recourse factoring company, at a small discount in exchange for an immediate cash advance against the invoice. We offer a variety of financial products and factoring services to our clients, ranging from accounts receivable factoring, accounts receivable management, Tri-Party Agreement, purchase order financing, debtor-in-possession financing, government receivables funding, bridge funding, acquisition funding, and more. Through years of experience as a leader among factoring companies serving as a partner in our clients' success, we have gained numerous insights into market activity as a premier invoice factoring company. top
How does INvoice Factoring, Commonly Called accounts receivable financing, work?
Invoice factoring, or accounts receivable financing, allows you to turn your invoices into cash. Operating as a factoring company, Platinum Funding Group buys open invoices/accounts receivable in a non-recourse transaction. We advance a significant portion of the value of the invoice upfront. Through the factoring services provided by factoring companies you can accelerate cash flow, increase working capital enabling you to pay your suppliers on time and take advantage of discounts, meet the payroll deadlines, and, ultimately, grow your business. top
How can I benefit from the products and INvoice factoring services that Platinum Funding Group offers?
Platinum can help you find practical, fast, and reliable finance solutions if you are a company with any of the following needs:
- Improving your cash flow
- Expanding your working capital
- Seeking bridge funding
- Experiencing distress or considering filing for bankruptcy top
Who may need Platinum’s factoring services, including, but not limited to, Accounts receivable fACTORING and ACCOUNTS RECEIVABLE management?
We offer accounts receivable factoring, also known as accounts receivable financing, to companies who:
- Are growing dynamically, have maximized their bank lines of credit and need additional capital. Accounts receivable factoring can meet the needs of these aggressively growing companies.
- Are unable to obtain financing through their local banks because they are a young company or even a startup. Factoring companies don’t evaluate their clients on their own balance sheets but rather on the strength and the solvency of their customers.
- Are currently in workout at their bank and are seeking alternatives. Invoice factoring can prove to be a successful solution.
- Have filed or are on the verge of filing for bankruptcy. Accounts receivable factoring, or invoice factoring, provides a much needed immediate financial solution to effectively and successfully begin paying back creditors when a company reaches the point of insolvency.
- Are looking for quick bridge funding in order to obtain permanent financing.
- Are looking for leveraged buyout financing for their company or another company. top
Who are Platinum Funding Group’s invoice factoring clients?
What qualifications do prospective invoice factoring clients need?
- Prospective invoice factoring companies must sell their products or provide services to creditworthy commercial clients with trade credit terms.
- Platinum does require a minimum annual sales volume of $1,000,000 for prospective invoice factoring clients. top
What don't we fund through Accounts receivable financing?
How quickly can funding Through Invoice factoring be arranged?
Platinum Funding Group, a successful factoring company, is known throughout the invoice factoring industry for being fast and efficient. With adequate information, typical turnaround time from the initial conversation about invoice factoring with a Platinum representative until receiving the requested funding through invoice factoring is approximately 3 to 5 business days. top
Why should companies finance their accounts receivable and partner with factoring companies?
Besides providing additional working capital, Platinum, a leader among international factoring companies, offers many additional benefits/advantages for a company participating in accounts receivable factoring, including:
- Taking advantage of volume discounts and early payment discounts
- Purchasing additional inventory through the increase in working capital afford by invoice factoring
- Reducing bad debt and improving credit rating
- Outsourcing accounts receivable management, which includes credit checking and collections
- Increasing advertising and marketing efforts
- Financing seasonal needs or securing larger orders through the financial security that comes along with invoice factoring
- Offering extended credit terms to its clients
- Keeping fixed assets unencumbered
- Retaining equity and ownership, as invoice factoring leaves the balance sheet unchanged
- Meeting increased sales demands without having to worry about restrictions of conventional lines of credit. top
When was PLATINUM, a leader among international factoring companies, founded?
Platinum Funding Group, a US-based corporation, has been providing factoring services to hundreds of companies in the US since 1992. In 2008, Platinum Funding UK Limited, an affiliate of Platinum Funding Group, began operations in the UK with the ultimate goal to better serve their invoice factoring clients on a global level. Our senior invoice factoring advisors are committed to helping build the financial success of their clients. top
How do I contact a financial advisor at Platinum, a revered factoring company?
Our dedicated team of invoice factoring experts will be happy to assist you with your factoring and funding needs. You can call our toll free number 1-888-700-7528. As a committed and successful factoring company, we will review your situation and offer fast, reliable solutions that fit your unique needs and customize you invoice factoring program. top
Where are Platinum’s invoice factoring offices located?
Platinum Funding Group’s invoice factoring headquarters and corporate office is located in New York City’s Times Square, with a network of invoice factoring offices around the US in California, Florida, Illinois, and New Jersey, and the affiliate company, Platinum Funding UK Limited, operating in the UK. Platinum’s presence across the US and UK enables us to effectively serve clients throughout North America and Europe. top
I want to join your invoice factoring team. Can I become a broker?
Platinum, a revered leader among invoice factoring companies, is continually looking for brokers and partners to join its ranks of successful invoice factoring consultants and experts. We can develop a mutually beneficial, long lasting relationship. Platinum develops an invoice factoring solution for your client’s financing needs and you earn a steady commission for the duration of time that we provide the client with invoice factoring. Visit our Broker page. top
