How Factoring Works
How Does Factoring Work?
Any business who sells to other businesses on credit terms is able to factor its accounts.
A factoring facility allows a business to eliminate the gap between the time an invoice is raised and the time payment is received from a customer – thus converting your credit accounts into cash accounts - imagine having COD customers only!!
As a result the cash flow of the business is improved dramatically.
The Factoring Process
| Step One |
Your business delivers a product to or provides a service for, your customer. |
| Step Two |
An invoice is raised by the business. |
| Step Three |
This invoice is sent to Business Capital Financial Group together with a “proof of delivery” document, such as a delivery docket or a consignment note. |
| Step Four |
Upon receipt of your invoices they are scanned and then posted by Business Capital Financial Group to your customer. |
| Step Five |
The invoices are processed and funds are deposited electronically into your bank account within 24 hours of their receipt. (Up to 90% of invoice value.) |
| Step Six |
Business Capital Financial Group follows up the payment of the account in accordance with your terms of trade. |
| Step Seven |
Your customers then remit payments to Business Capital Financial Group. |
| Step Eight |
The balance of the invoice (less the factoring fees) is then paid to you. |
Now your business can enjoy increased sales offering credit terms ...
and still get paid within 24 hours.
Contact Details
Business Capital Financial Group
Head Office
Norwest Central
308/10 Century Circuit, Baulkham Hills NSW
PO BOX 784
Kellyville NSW 2155
Phone : (02) 8831 7400
Fax : (02) 9659 9422
Email : sales@bcfg.net.au
Head Office
Norwest Central
308/10 Century Circuit, Baulkham Hills NSW
PO BOX 784
Kellyville NSW 2155
Phone : (02) 8831 7400
Fax : (02) 9659 9422
Email : sales@bcfg.net.au