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Getting Started with Invoice Factoring

Frequently Asked Questions | Getting Started

 

Getting Started – Apply and Qualify

How do I apply?
To get started with invoice factoring, simply complete the Contact Us form at the bottom of this page. We will contact you right away to learn more about you and your business. We’ll ask for additional financial documentation specific to your application to create a personalized factoring proposal for your business.

Does it cost anything to apply?Getting started with invoice factoring
QC Capital Solutions does not charge an application fee, but we may require a deposit of $250 to cover due diligence if your application and financial documents qualify to receive a proposal. Approved clients receive $100 of their deposit back with their first invoice advance, and the rest after 90 days of invoice factoring with us.

How long does it take to approve the application?
It varies with each customer, but generally once we receive the application and any requested documents, we will be able to contact you within 48 hours with a proposal.

What additional documentation might be required?
We will ask for your accounts receivable aging reports, a recent financial statement or tax return, and a list of your customers, especially those whose invoices you would like us to factor. We may request additional information depending on your industry or the length of time you’ve been in business.

Do I have to sign a long-term contract?
No. Sell us your invoices for as long as it makes sense for the growth of your business.

When I sell invoices how soon will I receive the advance?
Clients with prequalified customers who submit invoices with complete documentation by 11:00 a.m. Central Time can have their advances processed the same business day. Invoices submitted after 11:00 a.m. are processed the next business day.

Can I receive my advance the same day it’s processed?
Normally, advances are paid via ACH from our bank to yours with an overnight transfer. Same-day wire transfers and checks are also available. Please contact us to arrange the payment method that works best for you.

When do I receive the reserve balance?
Reserves on invoices that have been paid in full and on time are released weekly.

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