Get Quick Payments & Funding with Swift Translogistics.

•  Find the best funding and payment solution for all your business, trades and debts with us.
• Get the cash flow you need to help your business grow within 24hrs.
• We provide businesses with funding solutions to help them grow.
• We provide Invoice Factoring and debt payments, that are all affordable and flexible.

The following is the list of the major requirements you will need to qualify for invoice factoring.

Invoices To Factor
Unpaid invoices are arguably the most important thing to consider when looking for invoice factoring. After all, they are the ones you need to factor in.

Creditworthy Clients
Factors are more concerned with the credit worthiness of your clients than they are with yours. The main reason for this is because your clients are the ones who pay the invoices. Therefore, it would be best to consider if your customers are the kind who honor debts, have solid credit, reputable relationships, and have good references with other vendors. If so, then you are an excellent factoring candidate.

A Completed Factoring Application
Factors require an application that will vary according to the needs. They will request business or personal contacts like phone numbers, email addresses, and other essential business details. It may also include the monthly invoicing volumes. Generally, the more information you have, the higher the chances of getting an accurate invoice factoring quote.

Accounts Receivable
The reports show all the unpaid invoices, notes by date, and credit memos. Factors use these reports to keep track of the outstanding invoices, the money pending, and when they are likely to receive payment.

It is an essential part of the factoring paperwork since it helps determine an accurate timetable for submitting the required paperwork for eligibility.

A Business Bank Account
Using invoice factoring means you are looking for funding to help boost your business. Therefore, you are going to need a business bank account. Factoring companies do not offer cash or transfer money to a personal bank account. They only send money to business-only and personal accounts through wire or ACH transfers.

A Tax ID Number
You also need to provide a government-issued tax identification number. The factoring company uses the tax ID to check if your affiliated companies have all recent tax requirements. It also helps them to check if you may have outstanding liens.

A Form Of Personal Identification
You must provide personal identification documents. The factoring companies want to ensure that the person they are offering money to is legitimate. Personal ID can be your passport, driver’s license, or social security number.

Invoice factoring has numerous business benefits. With extra cash in hand, you can boost your business processes and pay all your bills to enable you to grow your business exponentially.  Contact us at Swift Translogistics to apply for factoring and get the best rates in the market.