Factoring is a form of working capital finance whereby clients sell their Accounts Receivable for an agreed term and recieve immediate cash availability. Factoring provides the following advantages:
- Immediate cash advances of 80-90% of the invoice amount, with the balance being paid to you when your customer pays us.
Accounts Receivable Processing
- Franklin does all your accounts receivable processing from the time you issue an invoice to collection. We provide you with a report every time a customer pays an invoice, as well as an aged analysis report of all your customers’ accounts. Real time updates are available online 24/7.
- We investigate your customer’s creditworthiness and provide you with credit advice.
- Our experienced account managers will at all times interact with your customers politely, tactfully and respectfully.
- Factoring is the sale of invoices at a discount to a factor for immediate cash.
- The invoices are due to be paid at future dates certain.
- The factor purchases the invoice when the invoice is issued and then receives payment directly from your customers.