G-R Funding Corporation

factoring made easy

Factoring questions and answers:



ACCOUNTS RECEIVABLE FACTORING SUMMARY (CLICK HERE)

  • The accounts receivable of businesses are traditionally due 30 to 60 days after invoicing. Some small to medium size businesses, in many cases, cannot afford to wait for payment since overhead expenses such as payroll, rent and taxes must be paid on a more frequent basis. Generally, such businesses have limited availability of credit with suppliers and often require additional funds for working capital to maintain the flow of goods and services. Such short-term funding to facilitate growth or meet seasonal cash flow needs is usually not available from the traditional sources.
  • There is, therefore, a need for financial services to this generally ignored segment of the business community throughout the United States, specifically; the companies that do not have access to traditional lending sources. As a result G-R Funding specializes in factoring (purchasing of accounts receivable) for growing companies which are in need of cash.
  • G-R Funding purchases accounts receivable from its clients and advances funds to their business. A portion of the purchase price is paid to the client upon purchase of the accounts receivable, and the balance is paid when Platinum has collected them. There is no need for the client to wait 30, 60 or 90 days to collect the money owed to him. With invoice factoring, Platinum Funding Group turns the accounts receivable into instant cash, providing much improved cash flow.
  • G-R Funding purchases accounts receivable which represent specific obligations arising from the sale of a product or the rendering of services in the ordinary course of the client's business. The product or service must have been delivered or fully rendered, as applicable, and been accepted by the client's customer without dispute, offset or other adjustment.
  • Accounts receivable factoring, or invoice factoring, provides a much needed financial solution without creating debt.

HOW DOES IT WORK?

Generate invoices for your customer as usual and provide us with the original or copy along with proof of delivery/performance and assignment. We verify invoices and then fund you with an initial payment, typically 80%, and usually the same day. When we receive payment on the invoice, we pay you the invoice balance that is the amount of the payment less the initial payment and discount earned.

HOW MUCH CASH WILL G-R FUNDING GIVE FOR MY INVOICES?

We pay you 70%-80% of the invoice amount right away. When we receive payment for the invoice, we send you the remaining 20%-30% less G-R Fundings service fee.

WHAT TYPE OF RECEIVABLES WILL G-R FUNDING PAY ME CASH?

We pay cash for any type of receivable for which a service has already been rendered or a product has been delivered. There are just a couple of exceptions that your G-R Funding representative will go over with you.

I HAVE CUSTOMERS FROM COAST TO COAST IS THAT A PROBLEM?

No. We can work with any business or government agency in the United States.

HOW DOES THE CUSTOMER PAY G-R FUNDING?

The same way they paid you. We deliver your invoice and Authorization Letter to your client once services have been rendered or your product has been delivered

WHAT ELSE CAN A FACTOR DO FOR ME BESIDES LENDING MONEY?

For no additional fees, your factor is your credit department for new and existing customers. This provides you with a huge advantage over in-house performance of these functions.