Brief History of Factoring & Receivables
A form of factoring has been traced back over 4,000 years to the Mesopotamians and later used by the Romans and the Europeans in the Middle Ages. It arrived in America with the Pilgrims around 1620.
Modern invoice factoring and receivables finance was developed in the United States in the 19th century, where it became the most prevalent form of working capital financing by the beginning of the 20th century.
Factoring & Receivables Finance Facts:
Factoring and receivables finance has been growing globally in recent years and in 2012 over $2,000 billion of receivables were purchased globally.
Here in the United States over $120 billion of receivables were purchased in 2012. Factoring is used by multi-billion dollar corporations, along with many small to mid-sized businesses.
As receivables based finance uses your commercial receivables as collateral it expands as your business expands making it an excellent working capital resource for growing businesses.
Here are the top 10 benefits to factoring invoices:
1. Obtain Cash Without Debt
2. No Credit Limits
3. No Long Term Contracts
4. Use of Funds is Not Restricted
5. Pick and Choose What Invoices to Factor
6. Strong Financials not Required on Business
7. Available to new and non-bankable businesses
8. Most Factoring Companies will Underwrite the
Customers' ability to pay
9. Low Factoring Fees
10. Receive Cash Fast (usually within 24 hours on
By not increasing debt and freeing up much needed cash, it’s easy to see why so many businesses are using factoring to pay bills, fund growth, increase sales, meet payroll, maintain a good credit rating, or take advantage of early payment discounts.
FLEXIBLE INVOICE FACTORING
Discount fee only on invoices funded
No contractual minimum volumes
Fund daily or weekly, as funds are needed
Typical Facility Size:
$50,000 to $5MM (funds advanced)
Typical Deal Size:
Start-ups ($1MM) up to $60MM in revenues
High growth Family Owned
DIP Funding Startup
Oil & Gas Service Temporary Staffing
Security Guard Service Distribution
Government Contracting Consulting
Marine Transportation Printing
Businesses selling to businesses on credit terms of Net 60 or less
Typical Approval Process:
24-Hour Response with Letter of Intent on submission of package
48-Hour Response after returned LOI with deposit
Funding within 48 Hours after approval with clear lien search
MILES CAPITAL ADVISORS
Contact: Mr. Emory B. Miles, President,
Miles Capital Advisors
Email : info@MilesCapitalAdvisors.com
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INVOICE FACTORING, ACCOUNTS RECEIVABLE FINANCING AND ASSET BASED LOANS
Financial Management is one of the most important things we can do, but it's also the most overlooked.
At MILES CAPITAL ADVISORS we'll help you accomplish your future financial goals every step of the way. From Domestic to Global Trade and Finance - Don't worry, we've got you.
MILES CAPITAL ADVISORS
INVOICE FACTORING, ACCOUNTS RECEIVABLE FINANCING AND ASSET BASED LOANS FOR U.S. AND MULTINATIONAL CORPORATIONS.