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 have a newly launched line of products that is growing, but we need capital to fill the gorwing demand for our product. South America is proving to be very lucrative, but it takes longer to collect on these large orders."
-- General Manager, Manufacturing, Pataskala, OH

"Processing 30k to 60K a month in credit card payments.. looking for $20,000."
-- CEO/President/Owner, Construction/General Contracting, San Diego, CA

"- with recourse factoring - ability to communicated with client in regards to collections- Reasonable pricing...all fees present up front."
-- CEO/President/Owner, Other Business Services, Fort Lauderdale, FL

"I have used factoring in the past. I would consider this as a form of financing our expansion."
-- CEO/President/Owner, Manufacturing, Lawrenceville, GA

"Would like clients to be billed coming from our company name."
-- CEO/President/Owner, Advertising/Marketing/PR, Elizabethtown, KY

"We bill dental insurance providers the same day up to the next day of dental work.Dental providers pay from between 2 to 4 weeks upon recipt our our bills."
-- CEO/President/Owner, Health Care, West Covina, CA

"The invoices we want to factor are for completed work only. The customers are HOAs and the invoices are for work done on the condominiums. An insurance co. licensed to do business in Florida is to pay the invoices."
-- Partner/Principal, Construction/General Contracting, Frisco, TX

"I am interested in factoring all current invoices that pay in 45 days as well as all new invoices greater than 1,000.00."
-- General Manager, Other Business Services, Feasterville Trevose, PA

"We are essentially selling stainless steel rebars to Federal Department of transportation of every US state mainly located on the East coast.Terms of payment are generally 30 days to 90 days. As examples, The last 2 PO we have received are of abt 150,000 USD for MIDOT and 800,000 USD for NYSDOT. The nest one could be for 4,500,000 USD for NYSDOT."
-- CEO/President/Owner, Construction/General Contracting, New York, NY

"I'm looking to expand our business thru acquisitions of similiar established businesses within our industry."
-- CEO/President/Owner, Advertising/Marketing/PR, Roland, AR

"We are a multi-unit fast food franchise desiring to factor our credit card transactions. Question #4 does not apply to our industry."
-- Accounting/Finance, Restaurant, Indianapolis, IN

"We expect to need factoring to grow our company with more equipment. With another set of equipment, we expect our income to rise to the $300,000.00 per month level. We will need factoring until our cash flow levels out."
-- CEO/President/Owner, Other Business Services, Williston, ND

"We provide medical examination services, however we do not require a medical factor. We do not bill medical insurance companies. We are not required to verify participation or anything similar to a medical practice. We operate and provide services in much the same way that "employment agency" does. Our first client is publicly traded biotech company with a market valuation over 900 million."
-- CEO/President/Owner, Health Care, Atlanta, GA

"We do not currently use any factoring services. We want to see our options and costs."
-- Partner/Principal, Transportation/Logistics, East Rutherford, NJ

"Guaranteed money. actually received in advance of my work being performed."
-- Partner/Principal, Other Business Services, Marina Del Rey, CA

"We are a fast growing company located in Connecticut. We are currently seeking proposals for invoice factoring so that we can take on larger projects and pay our suppliers in a timely manner."
-- Partner/Principal, Other Business Services, East Hartford, CT

"We would like to use this service for specific construction invoices payable within 30-60 days."
-- Buyer, Construction/General Contracting, Lumberton, TX

"We have large government orders and are currently looking for good rates on funding."
-- Partner/Principal, Manufacturing, Farmingdale, NY

"Just looking for more working capitol in order for the company to grow."
-- CEO/President/Owner, Construction/General Contracting, Cabot, AR

"Our dealers perfer some terms to give them time to sell the cars. GE was our prime source of "flooring"."
-- CEO/President/Owner, Wholesale, Grand Junction, CO

"Operational money against an Letter of Credit Value of USD 200,000.00 I need 50,000."
-- CEO/President/Owner, Other Business Services, Northridge, CA

"I know relativly little in regards to factoring, but I am quite interested in implementing this for my business."
-- CEO/President/Owner, Insurance, Brainerd, MN

"We need our invoices factored asap. there are several owneroperators and company drivers we need to make payroll for.Pay4freight. com was our former factorer but we decided to end the relationship for a number of reasons."
-- CEO/President/Owner, Transportation/Logistics, Virginia Beach, VA

"Every job requires a signed contract and a deposit to begin the project. The contract states that remaining balance must be paid within 72 hours of completion. This gives the custmer time to inspect our work. It also states that after 30 days the customer must pay all collection fees if not paid on time."
-- CEO/President/Owner, Construction/General Contracting, Fort Lauderdale, FL

"We are having difficulty finding someone to do factoring for us. 2 reasons concentration of debt and our major customer is TRW. if you can do it let us know."
-- Administrative Assistant, Construction/General Contracting, Utica, MI

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