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

"I currently have payroll funding and factoring through pearce financial group. Looking at making a change."
-- CEO/President/Owner, Other Business Services, Lima, OH

"We have not worked in almost a month, due to the weather and other things. Now that we are working again, we are finding that the majority of the companies have 30 day pay."
-- Accounting/Finance, Transportation/Logistics, Brazoria, TX

"We need on a non contract basis because of the difference in fluctuating market and economy some time they all pay on time and then depending on the econmy they slow down but our company needs to sstay current on with our creditors so you see we do not need to stay binding to one factoring co. we need a solution not another contract ! we have been talking to FORTUNA INVESTMENTS INC. AND ORTHER COMPANIES WHO ARE WILLING TO DO FACTORING ON AS NEEDED BASIS WITH OUT LONG TERM CONTRACTS , ONLY PROBLEM IS THEY ONLY DO 90% OF TRUE INVOICE VALUE? AND MOST OF THE TIME WE DO NEED THEM IN A CONTINUING CYCLE AND WE KEEP THEM ON STAND BY!"
-- Accounting/Finance, Consulting, El Paso, TX

"I want someone who can take over my receivables. It is too time consuming to chase down each one. I'd rather sell the receivables for a lump sum and be done with it."
-- CEO/President/Owner, Health Care, Dickson, TN

"We are a new IT Staffing/Consulting firm interested in factoring services. We don't currently have any invoices but are completing contracts requesting remittance addresses, so we are in need of making a sound and productive decision."
-- CEO/President/Owner, Consulting, Dallas, TX

"We are a new company, KND Logistics Group DBA Keep It Moving Trucking offering interstate/intrastate freight as well as ocean, air, and other logistical services. We are in the market for a factoring company that will assist us in maintaining working capital. We are in the process of establishing new clientele and remittence address is an option on each application. So we are in immedate need of factoring services."
-- CEO/President/Owner, Transportation/Logistics, Dallas, TX

"I'm trying to get an annual advance on my total annual commissions of roughly $300,000. I would pay in my monthly commissions checks starting immediately."
-- Sales/Business Development, Insurance, Morehead, KY

"Only interested in a one time factor for a receivable that is being held for a 14,000 sq. ft custom home that is now 14 months in the making and will not be finished until the fall. They are holding our funds until all the systems are up and running and they will not run them so as not to stir up dust in the home."
-- CEO/President/Owner, Construction/General Contracting, Perkasie, PA

"Just curious as to what the factoring would be in I started my own authority....Thanks."
-- Buyer, Transportation/Logistics, Traverse City, MI

"Start up facturing and trade house for Brazilian agribusiness exports."
-- Partner/Principal, Financial Services, Vernon Hills, IL

"Fast fundingLarge initial funding amountFair fees - best avg Pro - management of customersClear terms."
-- CEO/President/Owner, Other Business Services, Las Vegas, NV

"I'm currently working on my business plan. Factoring is a consideration that I'm researching related to my account receivables and cash flow analysis. Given the high dollar potential of my receivables, I will need to leverage a factoring service in or around month 3 of my operations; i.e. September 2008."
-- CEO/President/Owner, Consulting, Minneapolis, MN

"We are financial consultants. One of our clients, a retired professional boxer, has not received payment on two settlements for approx. $1.6 M since his attorney died. The debtor is his former agent. His settlements are legal judgements!"
-- Partner/Principal, Consulting, Centreville, VA

"I am in need of generating a steady stream of cash flow as I stand up a Project Management service firm for Governement prime contractors."
-- CEO/President/Owner, Consulting, Arlington, VA

"Having our A/R department continue to work on receivables - Great relationship that has been established."
-- CFO, Health Care, Scottsdale, AZ

"Just need to get our cash flow up and running again. We have a few long term projects, and with the economy running the way it is, people are slower to pay."
-- CEO/President/Owner, Consulting, Brooksville, FL

"Tax liens are in place at our sister oranization (common ownership)."
-- Buyer, Information Services, Chicago, IL

"I have a healthcare agency. I have nurse contactors on my payroll. I have to wait for the hospitals to pay me..."
-- CEO/President/Owner, Consulting, Long Beach, CA

"I would like to discuss any opportunities as soon as possible."
-- CEO/President/Owner, Manufacturing, Dexter, ME

"Looking to factor invoices for my main client C & S Wholesale Grocers in Brattleboro VT."
-- Partner/Principal, Wholesale, Chelmsford, MA

"We have a program with all the chrysler dealerships where they purchase 2500.00-10,000.00 worth of product.And we want to offer 12 mths no payment,were we would pay the fee for the 12mths and the invoice is due in full at the end of 12mths.We have credit insurance to cover each client for the 12 mth period."
-- Sales/Business Development, Manufacturing, Sault Sainte Marie, MI

"I an a sole-proprietor software developer. I am beginning a contract with a small firm that is business partners with a very large firm (Infor). The small firm has been sub-contracted for a 1.5 - 2 year software implementation project and they would like me to contract with them. Right now the average time from invoice to payment is 6-7 weeks.I hope I'm not too small to consider."
-- MIS/IT, Information Services, Batavia, IL

"In addition to Permanent and contract staffing services we manage and invoice Software development projects conducted off shore for US customers.Our customers are typically High Tech concerns operating in Silicon Valley, Health care facilities operating primarily and occasionally a non-profit organization."
-- Facilities/Operations, Other Business Services, San Francisco, CA

"Looking to factor invoices for some of our key clients. Some existing invoices and some new to-be invoiced."
-- CFO, Consulting, San Francisco, CA

"I process all orders via credit card, so I get paid immediately. I would like to factor around $5000 and my last 4 month average sales have been $7352."
-- CEO/President/Owner, Retail, Edmond, OK

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