When you’ve been doing something for over 70 years, all of that experience tends to iron out early wrinkles. Since 1942, Tansfac Capital has been factoring invoices for small businesses. Over the years, our team has pioneered efficient funding methods to get our clients the money they desperately need in rapid time. How, you ask? It begins and ends with Transfac’s order of operations. From the day you apply to the moment the funds hit your business account, the Transfac train is full steam ahead to deliver working capital as soon as possible.
The Transfac Method
Before you can know how Transfac factors its clients, it is important to know what factoring actually is. For those that have not heard of factoring before, information can be found throughout the site. Now that you know invoice factoring is the premier option for business to business financing, let’s take a look at how Transfac is funding small businesses faster than the competition.
Step 1: Apply
Transfac Capital has developed a quick, easy application to get potential clients started.
Step 2: Research
Using information provided through the submitted application, Transfac’s underwriters begin to research your business to determine the risk factor.
Step 3: Additional Paperwork
If your business passes the underwriting test, additional paperwork needs to be completed, such as a letter of intent and a purchase and sales agreement.
Step 4: Verification
Once Transfac receives the paperwork, a verification process begins to analyze whether or not your invoices are collectible.
Step 5: Funding
If everything checks out, Transfac will factor your invoices, with funding being received within 24 hours.
When everything is said and done, factoring invoices can take anywhere between 3-5 business days. Compare that to the monthlong waiting period for an SBA loan and it becomes clear why factoring is an excellent choice for businesses that need money now. If you are interested in learning more about factoring, contact us. The Transfac team is here to assist small business owners nationwide with finding the best financial solution based on their individual needs.
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