HERE ARE ANSWERS TO
THE MOST FREQUENTLY ASKED QUESTIONS ABOUT FACTORING

If we can't get a loan at a bank, how can you provide money?

A bank is looking to make a loan based on the credit-worthiness of the business or individual requesting the loan.  If your company is new or you do not have a high personal net worth, it is difficult for a bank to secure a loan with any kind of collateral.

However, as a factor, we look to your business' customers for our credit decisions.  If you are selling to credit-worthy customers, we can purchase your accounts receivable from your business.  The sale of your accounts receivable will generate cash to keep your business' vendors satisfied; and as a result, provide your business with the funds it needs to sustain its growth. 

How does ACC make money?

We get a fee when the invoice is collected.  Remember, we buy - we do not lend.

Can you give me an example of how your program works?

When your ready to invoice your customer, you fax us an invoice purchase request.  Get the invoice(s), along with all supporting documents, to our office ready for mailing.  We will process the invoice(s), for your approved customers, with 24 hours.  Then we will advance you 70% to 80% of the invoice amount.  When we collect the invoice(s), we will send you the remaining 20% to 30% less our fee.

How do you collect?

You will notify your customers to mail all future payments to ACC's collection lockbox. 

What are your requirements for buying an invoice?

We have two simple requirements:
1) All products, goods and services must have been completed, delivered, accepted and approved.
2) Your customer (who is being invoiced) must be a credit-worthy risk.

Does factoring make good sense for me?

 Factoring makes sense for growing businesses with good profit margins that are unable to obtain traditional bank financing.  Factoring should provide a means for paying your employees and vendors on a timely basis.  As a result, allowing you to begin work on new sales orders that you would otherwise lack the necessary working capital to finance.  More completed sales orders means more money for you and your business.

What happens if my customer never pays you?

If your customer goes bankrupt within the first 75 days after the invoice is purchased, we assume the loss of the funds we advanced to you.  After 75 days, or if your client doesn't pay because of a dispute with you, then you have to repurchase the invoice from American Commercial Capital.

What documents are required of me to get started? 

You will need to provide the following:
1) Completed Application
2) Financial Statement
3)Copy of your Articles of Incorporation, Partnership Agreement, or DBA filing.
4) Accounts payable aging
5) Accounts receivable aging
6) Customer list
7) Personal Financial Statement of the owner(s)
8) Copy of owner(s) driver's license
9) Resume of owner(s)

 CALL US OR COME IN - ITS EASY TO GET STARTED!