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How It Works
Each week, you will provide our operations department with invoices and
/ or time cards. We will immediately prepare a "payroll
advance schedule" based on your invoice submissions. Generally,
you can expect to receive your initial advance of funds wired directly
into your business checking account within 3-4 hours. Rates of
advance from Aegis Factors are typically 80-85% of the face value of
your invoices.
Aegis Factors provides you will daily reports of collection as checks
are received by us from your customers. When accounts are paid,
Aegis credits a rebate payment to your account (the balance of the
invoices not initially advanced less our factoring service fee) every
week and includes that payment with your weekly payroll advance.
What It Costs
Once the darling of the
textile and garment industry, factoring has become exceptionally
affordable for almost any industry or business sector. Factoring
is a powerful financing technique which is transactional, financing each
invoice and customer transaction separately Because of its
flexibility, factoring now completely dominates all other financing
options in many industries.
Due to its growing popularity, the costs of factoring have been reduced
dramatically over the years as more competitors provide the service.
In fact, the factoring discount for 30 day financing is now little more
than the fee for accepting a credit card. When the additional
services a factor performs are also considered, it is no wonder why
factoring is fast becoming the financing method of choice for tens of
thousands of small business entrepreneurs each year. For a firm
quote on how your company can benefit from factoring and the associated
fees, complete our
Company Profile and fax it to our
offices at (239) 274-7994.
Who Should Apply to Aegis
Factors
Factoring
is an extremely flexible financial tool that appeals to both small and
large business owners alike. It is available to even small
startups generating just $5,000 to $10,000 in invoices each month as
well as larger companies which invoice over $1 million per month.
Factors are not fixed on strong financials and a long credit
history. Also important, factoring facilities are not
capped as in a line of credit. The amount the factor will
provide as a line grows as your company grows. This feature alone makes
factoring the preferred method of finance for young companies
experiencing high growth rates and in the earlier stages of business.
At Aegis Factors, we provide factoring lines from $10,000 per month to
over $1,000,000.
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