BuyerZone users' invoice factoring service requirements

We ask users of our quote request service to describe their invoice factoring service purchasing requirements in detail so the vendors we match them to can provide customized information in response. Now we're sharing these buyer requirements with you.

We hope these user comments help you get a sense of what types of invoice factoring services other users are choosing and what considerations are important to the average buyer. Take a look and you'll probably see some responses that are relevant to your business.

BuyerZone user comments: invoice factoring service purchasing requirements

"We will not pay more than 2%. Already have a factoring company for 3%.Need referrals."
-- CEO/President/Owner, Construction/General Contracting, Orlando, FL

"Mount Pleasant Medical Management Company does billings for doctors and lawyers medical bills."
-- Buyer, Wholesale, Stone Mountain, GA

"I am interested in PO financing and maybe factoring. Since the customers pay fast I don't need that time to work from. I do need advances on the PO's to fund my suppliers that need to be paid in advance of me getting the finished products to ship to my respective customers."
-- CEO/President/Owner, Manufacturing, Houston, TX

"Our company is growing and we have potential purchase orders that could increase our 2007 sales by 300%. I am researching factoring to prepare for this increased growth potential."
-- Partner/Principal, Health Care, Sausalito, CA

"I'm a consultant. I had just about given up on direct contracts, because there are so many midsize to small companies that take advntage of consultants.If I can find a good factor, I can go after more accounts and command higher rates. I can also hire other consultants without worrying about paying then and then waiting for the client to pay. I especially like the idea that the factor has more access to the clients' financial information than I do."
-- CEO/President/Owner, Consulting, Houston, TX

"Our company provides foundation cement work and framing on projects."
-- CEO/President/Owner, Construction/General Contracting, Rapid City, MI

"We take 1/3 deposit with order. 1/3 is Net 30 and final 1/3 is Net 60. Our Sales Order clearly states the terms and client signs and dates. In many cases, our work has not been completed prior to the final payment. This is due to the client not able to provide requested info via questionaire and/or client not able to schedule time for our onsite training. We have never encountered problem with recvg payment on timely basis for these delays."
-- General Manager, Other Business Services, Newbury Park, CA

"We are a new business and want to explore the best solution to allow us to rapidly place a large number of contractors on site at client sites. We are very interested in seeing if factoring is a good solution."
-- CEO/President/Owner, Consulting, Hayward, CA

"Sensitivity to customers interpretation of why their invoice is being factored."
-- CEO/President/Owner, Consulting, San Jose, CA

"We are looking for someone who will factor or fund upon our concematoin of a contract."
-- General Manager, Construction/General Contracting, Salem, OR

"We do residential repair and installation of windows, glass doors, shower doors, and mirrors. We are also subcontractors for different commercial jobs. We are a small company with about 8 employees."
-- Accounting/Finance, Construction/General Contracting, El Paso, TX

"Purchase orders from US Government or State Government for video conferencing equipment."
-- Sales/Business Development, Computers - Hardware, San Francisco, CA

"I have an exclusive with one very credit-worth client. I have at least 10 positions to fill for them, and I've already filled 2. I would like a reasonable fee based on the creditworthiness of my client."
-- Human Resources, Other Business Services, Grapevine, TX

"Would like an idea of the program and cost for doing these types of invoices."
-- CEO/President/Owner, Travel/Hospitality, New Port Richey, FL

"My Biggest account is C&K Market which is 54 store wide. I currently distribut to 10 of them, all invoives are paid by coporate office but billed to each and every grocery store."
-- CEO/President/Owner, Wholesale, Grants Pass, OR

"I am currently with a funding company thant I am not happy with. I would just like to find a company who is nice and honest."
-- CEO/President/Owner, Other Business Services, Cumming, GA

"With 4 new products I am receiveing large orders--from Lithia Automotive Group (3-billion in annual sales) and Ashland Oil Company (Vlavoline) this month, with more units promised over the next 6-12 months."
-- Partner/Principal, Manufacturing, Baldwin Park, CA

"Current AP is about 45K. Current AR is about 95K. Credit history is good."
-- CEO/President/Owner, Telecom/Utilities, Bellevue, WA

"I am looking for a funding/factoring company that I can get set up with very quickly. Thank you for your time!!"
-- CEO/President/Owner, Telecom/Utilities, Crawfordville, FL

"We have an Electrical Contracting business focus on Energy Efficient Lighting Retrofits. We have grown quickly enough that we have more jobs than we have credit lines to support our business.We work with Small Business (Mom & Pop)to BIG Business (National Companies). We also work with Third Party Rebate Programs Tthat pay us directly for material and labor. The money is State Funded; however, it sometimes takes 30-90 days to collect.We are looking for a factoring company that can offer a consistent quick turnaround of invoices to provide ready capital for growth. Important Factors include: turn around time, anonymity and factoring percentages and rates."
-- CEO/President/Owner, Construction/General Contracting, Union City, CA

"I have 24 invoices for the Corp of Engineers at 350.00 each. I would like to factor them since I don't know when the Corp will pay and my company is stretched with these outstanding receivables."
-- CEO/President/Owner, Other Business Services, Marrero, LA

"Our invoices are based on annual contracts, but are billed in 2 invoices, approximately 6 months apart. At invoice, the first one is due on receipt, the second one is due 6 months out. We currently have about $100,000 in AR to be factored - 50% is the bi-annual scenario and 50% is billed monthly and due monthly."
-- Partner/Principal, Advertising/Marketing/PR, Charleston, SC

"I am interested in a company who will allow me to submit my invoices electronically and can fund my invoices electronically in 5 days or less."
-- CEO/President/Owner, Other Business Services, Colorado Springs, CO

"I am looking for financing for receivables, purchase orders and/or contracts with my larger clients."
-- CEO/President/Owner, Construction/General Contracting, Westland, MI

"I have a large custom builder who requires me to purchase the material for the job as well as provide the labor for fabrication and installation; I am not paid on the job until 30 days after completion date."
-- CEO/President/Owner, Construction/General Contracting, Carrollton, TX

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