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

"--- Online electronic submission and account status via the web-- Ability to send invoices directly from Quickbooks without having to re-type everything back in."
-- Sales/Business Development, Other Business Services, Indiana, PA

"We are looking for a large bulk amount of cheap cd-r's to burn yearly samplers on to, to pass out at every show for free to all the fans and everbody there! Which wont cost us an arm and a leg to purchase. Silver top cd-r's welcome!"
-- CEO/President/Owner, Advertising/Marketing/PR, Lewisburg, OH

"We just incorporated. We, three experienced partners, have substantial contacts. We already have $200,000 in work committed from BJs which is like Costco but only in the east (180 stores). We have a niche in concrete repair and installation of epoxy flooring, a specialty. We already have meetings set up with Costco and Walmart and want to grow large. These clients are A+ financially and BJs pays in less than 30 days but we will soon have more work than we can finance."
-- Partner/Principal, Construction/General Contracting, Stoughton, MA

"We are a local and long distance carrier. We provide service to commercial businesses and bill them once per month on or around the first business day. We are not experienced with factoring but are looking for ways to accelerate cash flow."
-- CFO, Telecom/Utilities, Lemont, IL

"Looking for a company with low factoring rates, 90% of invoice in 24 hr release, guarantee remaining 10% less factoring fee will be returned in timely fashion. No Philadelphia lawyer contracts!!"
-- CEO/President/Owner, Transportation/Logistics, Sylva, NC

"I am selling my imported lines of product to numerous top 20 retail accounts in the US. I receive LC's from some of them and net 31 from others. I need to fund my manufacturer so that he can puchase materials based on our agressive sales we have received this year."
-- CEO/President/Owner, Retail, Youngtown, AZ

"Often, when I have large jobs that require materials and labor beyond what I have available, I will need factoring."
-- CEO/President/Owner, Construction/General Contracting, Holly Springs, NC

"Most of our accouts will be set up on a 14 day pay period but we will have an occasional account that will be on a 30 day pay period."
-- CEO/President/Owner, Retail, Redfield, AR

"Just curious as to how this may help us in our strategic operations."
-- Human Resources, Transportation/Logistics, Rancho Cucamonga, CA

"The contracts for facilities are 300/month and are for 12 months totaling 3600. Can you factor for this length of time at a reasonable rate?"
-- CEO/President/Owner, Health Care, Jackson, TN

"We will be dealing with hospitals, car dealer-ships, grocery stores...Large concerns that OSHA REQUIRES TO WEAR PROTECTIVE GLOVES TO WORK..."
-- Buyer, Health Care, Colorado Springs, CO

"We are specialized in the Leasing and Sales of Taximeters. These taximeters come with a modem allowing the driver to accept wirelless credit card payment. They usually contract for 2 to 3 years. We are able to stop their device remotly from any computer at anytime if they do not pay. We use it all the time."
-- General Manager, Transportation/Logistics, Chicago, IL

"We need medical insurance factoring, our medical director has a medicare history, our new billing / patient load has increased need to hire personell, obtain multiuse equipment, spirometers, pulse oximeters with printer, ambu bags and just general working capital."
-- CEO/President/Owner, Health Care, Riverside, CA

"We have one customer: the NASDAQ Stock Market. They pay us promptly on the 17th day of the month following our transactions. There is no default risk and no risk of late payment. We just need the money sooner. It is about $700,000 each month."
-- CEO/President/Owner, Financial Services, San Clemente, CA

"Need the service to improve cash flow when custome's incoming invoice is slow."
-- Partner/Principal, Information Services, Washington, DC

"This is for planning of a new subsidiary we are developing and launching. The average invoice amount for the receivables we wish to factor will probaby range from $500 to $50,000, it will vary wildly depending on what is involved."
-- CEO/President/Owner, Manufacturing, Oak Brook, IL

"We are a franchisor of 50+ retail baby furniture stores. Each store owner has personally guaranteed amounts owed. We are looking tor a company to help us manage the receivables process."
-- CFO, Retail, Lombard, IL

"Just looking to do this for one time to start have a 80,000.00 job and signed contracts."
-- CEO/President/Owner, Construction/General Contracting, Golden, CO

"Looking to purchase the company. I would like to know your advance rates, factoring charges and rates."
-- General Manager, Transportation/Logistics, Sidney, OH

"This is to float paychecks to consultants each week, as they work at customer sites."
-- Consultant, Consulting, Norwell, MA

"We invoice advertisers every 4 weeks , not on a monthly basis."
-- CEO/President/Owner, Media/Entertainment/Publishing, El Dorado Hills, CA

"Please respond only by email w/ info on rates and charges."
-- Partner/Principal, Manufacturing, Lake Elsinore, CA

"Need factoring with no min. and 2nd position on AR."
-- Accounting/Finance, Retail, Los Angeles, CO

"We are a new company without leins on our equipment or receivables."
-- CEO/President/Owner, Other Business Services, New Albany, IN

"Is there any factoring where I only factor what I need to use instead of factoring the whole invoice? I would rather pay a factoring company that charges me a fee based on what I use instead of the whole invoice amount."
-- CEO/President/Owner, Other Business Services, Rockwall, TX

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