Auto Glass Factoring Company
Factoring for auto glass installers, offers a huge opportunity for business growth. Many auto glass installers are getting paid directly from an insurance company or through companies like Safelite or Linx. Getting paid from insurance companies takes time and you have expenses and payroll to meet on a daily basis. It's not easy, always having to wait to get paid.
Most auto glass installers are not well capitalized. You can turn to bank for a loan and if you are lucky enough to get a loan these days, you will be stuck with another monthly payment. Some auto glass installers cannot obtain a bank loan, due to the time in business or due to credit issues; this is never a problem when it comes to invoice financing. Account Receivable Financing for Auto Glass Installers can be the difference between growing your business or continuing to struggle, waiting for you open invoices to get paid.
Invoice Factoring Auto Glass Installers
When auto glass installers factor their invoices, they are always one day away from being paid / funded. Invoice factoring, is when you sell your open invoices to a factoring company, for immediate cash. Factoring is not a loan; you do not have to pay this money back. When you factor, you are selling your invoices at a discounted rate, this rate can be as low as 1%.
Auto Glass Factoring - Process
The process is very simple, you go about conducting your regular business, when you complete a job, you would invoice your client (i.e. insurance company). The extra step you need to take when you factor is… you need to send us a copy of the invoice that you send to your customers. Once we receive the invoice, we verify that the work has been completed, and then, we wire your money to your bank, within 24 hours. We hold in a reserve account a small percent until the invoice is paid. Once an invoice is paid, this reserve money is sent back to you, less our fee. Our fees are traditionally 2% - 2.5%, depending on your monthly volume and the amount of customers you are looking to factor.
- Setup your account
- Send in your invoices
- You get a username and password to login to your account
- We Verify that the services have been compelted and accepted from your customer
- We fund you up to 90% of the invoice amount (hold on to 10% in a reserve account)
- Your customers pay us directly
- Once we receive a payment, we release your reserve money back to you
Invoice Factoring Services for...
|Auto Glass Factoring||Auto Glass Installation Factoring||Auto Glass Repair Factoring|
|Window Replacement Factoring||Window Repair Factoring||Commercial Glass Factoring|
|Glass Repair Factoring||Glass Replacement Factoring||Commercial Glass Repair Factoring|
Invoice Factoring can help you grow your business or to assist in working capital from your slower paying customers.
Invoice Factoring and Invoice Financing are the same thing, so don’t get confused if you surf the web and find variations of what some companies call it. Factoring is simple; you run your business, just like you currently do now. If you were to invoice your customer today, you send us a copy of the invoice, we verify that the work has been completed, and then we fund your account.