How does factoring with Interstate Capital work?
Taking advantage of our factoring services is quick and easy. An Interstate Capital factoring account manager will get you started. We will then assign you a factoring collection specialist who, together with your account manager, will complete your Interstate Capital customer service team.
This is how factoring with Interstate Capital works:
- Interstate Capital will advance you a large percentage of your invoice amount within 24 hours of the invoice date.
- The account debtor (your customer) is put on notice that payment must be remitted to Interstate Capital.
- Upon receipt of payment from your customer, Interstate Capital disburses to you the balance of the invoice amount not initially advanced, minus our fee.
As an Interstate Capital client, you can:
- Establish and access credit limits for your customers over the Internet.
- Deliver invoices to Interstate Capital via fax, overnight courier or e-mail, depending on your industry.
- Designate how you want to receive your funds (i.e. wire transfer, ACH transfer, Federal Express®, or U.S. Mail).
- Work as a partner with your factoring collection specialist to maintain the status of your customers’ payments.
- Track the status of your factored invoices and payments through eFactor, our real-time, online reporting system.
As an Interstate Capital customer, you will receive:
- Immediate cash against receivables.
- Experienced and diligent account managers who can answer your questions, walk you through the factoring process and service your account as if you are their only client.
- Expert collection specialists who can ensure the highest possible collection success, taking invoice collection worries out of your hands.
- Easy storage and retrieval of all of your credit limits assigned by Interstate Capital through our online, proprietary credit inquiry system.
- Access to all of your reports through eFactor, our customizable, real-time online reporting system.
- Mailing for all of your customer invoices, either physically or electronically.
To find out how more about how factoring works with Interstate Capital, get an instant factoring quote today.