Invoice factoring is an easy way to maintain your cash flow and ensure your company stays successful. In addition to cash flow, Scale Funding has additional services which can help your company thrive and flourish.
Scale Funding offers our credit desk, contract compliance review, and payment services – all at no additional cost to our clients.
The Credit Department at Scale Funding reviews credit reports, pay trends, and public information on each debtor. With this data, we can determine an appropriate line of credit for your customers. Credit limits do change over time, as company payment trends change. Consistent monitoring of credit and collections helps Scale Funding stay on top of any changes and make adjustments as needed.
Before agreeing to any work, service, or load, checking credit is a fast, easy way to know who you are hauling for, along with their credit and payment history. Checking credit after a gap of not working with a particular customer is also recommended. That way, your company can be sure your customers are still in good standing.
If you work with a company Scale Funding is unable to approve credit for, it is still beneficial to submit the invoices to us. Although we cannot advance on the invoices, we make full collection efforts. There are no factoring fees charged on these invoices. Submitting these invoices enables the credit team to track the customers pay trends and perhaps approve the debtor for future invoice purchases.
Scale Funding will also review any service agreements to make sure you are compliant with requirements of your customers. Complying with your service agreements helps ensure no delay in payment. Scale Funding reviews insurance requirements, invoicing practices, holdbacks, and terms of payment. Having this review done before accepting work is helpful, that way there are no surprises once the work has started.
Many invoice factoring clients of Scale Funding have regular monthly payments to insurance, leasing companies, or other entities. These payments can be remitted directly from your advance. Making payments from your advance can lead to savings in transaction fees and reduce the time you spend on this activity. Your relationship manager is well versed in many areas, and are always ready to help should you find yourself in a bind!
At Scale Funding, we take pride in our unsurpassable customer service and knowledge of your industry. We work hard to build our clients’ trust, and take pride in their success. If you have any questions about our available services, contact us today at (800) 707-4845.
Author: Katie K.