What is the Factoring Process?

Fill out our one-page application. After we received your application, we send you our agreement along with a short list of supporting documents. You send us back the factoring agreement, with the supporting documents and we approve your account. Once your account has been approved you can begin submitting invoices for funding. You will be assigned your personal and friendly account representative and she/he will be your go-to person. You will get an introduction call from your account representative, in which he/she will give you their contact information and explain the next steps.

You Send us Copies of your Invoices

Once your account has been set up, you simply start submitting the invoices that you want us to purchase, to your account rep, via email or Dropbox. Your account rep. will verify that the products have been delivered and or that the services have been rendered. Once the verification has been confirmed, they will request the funding to be released to you. The funds will either be wired to your business account the same day if sent by a Federal Wire, a day or two is sent via ACH or a few days to a week if you prefer us to send you a check.

The Credit Approval Process

Alliance One LLC, issues credit insurance on all of the invoices that we purchase. We are a non-recourse invoice factoring company. This means… If we purchase and fund you on an invoice and your customer becomes insolvent, we do not come back to you to recoup this money, the insurance company will pay us. Having insurance is a necessary process. Our credit insurance company will do a quick background through Dun and Bradstreet to check worthiness on your client. It is designed to protect the customer from incurring too much bad debt. Once approved, a credit limit is set and the credit will be updated on an ongoing basis. We protect you as much as possible from the threat of bad debt.

Setting up New Debtor (your customer) to Factor

When your company takes on a new client, you contact us with the company name, we pass this information to the insurance company and they issue us credit insurance on your new client. This is important to your company because you are the one that has to make a business decision to determine how much credit you wish to grant this new company. If we can only get insurance for $25,000, we can only purchase up to this amount in aging invoices in total

Once your account is set up, we try to keep it really simple. In many cases, is you sell us an invoice today, we do our verification process on that day as well. Once the verification is completed, we fund you within 24 hours.