Business Finance and Franklin Capital FAQs

Get answers to frequently asked questions relating to our business finance services and Franklin Capital.

If you have a question about our services please let us know. You can email us at info@franklincapitalnetwork.com or call us at (847) 579-4780. We are happy to help.

How much will I receive right away on my invoices, and what happens to the balance?

We advance up to 90%. When your customer pays the invoice, the unadvanced portion is paid to you, the same day, less our fees.

If I use accounts receivable financing, will I invoice my customers or will you as my factoring company?

You will continue to invoice your customers. The invoice will be assigned to us via email or through an upload to our client portal.

When I use your accounts receivable financing, how will my customers know to pay you rather than me?

A notice of assignment will be sent to the customer, and you will review this letter at the outset of the facility. We also provide a template that you will need to send to the customer. Also, our mailing address and bank information will be placed on the invoice.

Will you contact all of my customers?

Yes, however, if there are customers that you are concerned about, feel free to discuss, and we can take it on a case-by-case basis. Remember that we are your “right arm”, and are dedicated to providing you with superior customer service.

How much will your accounts receivable finance services cost me?

This depends on the invoice value that you will be sending to us. It is a monthly percentage of how long the debt is outstanding. Usually, the fee is between 0.75-2% on the value of the invoice. We also offer pricing that reflects interest on the borrowing fee. We can discuss a cost structure that suits you.

How long does it take to get the financing in place?

This will depend on how long it takes for your customer to verify the invoice. However, with your help the agreement should be ready to go within 3-5 days.

Once you receive my invoices, when will I receive payment?

You can expect to receive payment as soon as the same day.

Can you provide a short-term contract as I don't want to be tied in for years?

Absolutely, call us at (847) 579-4780 to discuss. Our goal is to find a solution that will work best for your company’s unique situation.

Is there a limit to how much financing I can get?

One of the advantages of accounts receivable finance is that the financing grows as you grow. It is not capped like a line of credit from a traditional bank. The more eligible invoices you have assigned, the more we fund.

My personal credit is poor, will that affect being approved for accounts receivable financing?

Not at all! One of the benefits of accounts receivable finance is that the finance company will look at the creditworthiness of your customers to determine if the financing is a good option for you.

I am not in Illinois, can you still help me?

Absolutely! We fund businesses anywhere in the U.S. or Canada.

In Our Clients Words

“We found Franklin to be more straightforward and professional than other finance companies we have spoken with. Franklin was upfront and gave us plenty of references, which not all finance companies have been able to do.”

President

Illinois-based Staffing Company

Get the financing you need today to grow your business!

Give us a call today at (847) 579-4780 or request a quote so we can start the conversation to see how we can help your business achieve your financial and business objectives today.