Frequently Asked Questions About Factoring

Q: What types of businesses are eligible for factoring?
A: Any company that sells to other businesses or government agencies on terms is eligible for factoring. Clients include manufacturers, distributors, wholesalers and service organizations.

Q: How long does it take to start?
A:  Once you fill out our Online Request For Funding, your request will be reviewed within 24-48 hours from the day it is received. There is no cost or obligation to apply. Upon review of your application, a representative will contact you to design a financing program customized to your needs. If you accept the terms of our proposal, you could receive your first advance within several days.

Q: Will your company purchase existing receivables?
A: Yes. Our funding sources will buy your existing outstanding invoices. If you have any current outstanding invoices that you would like to convert to cash now, you are encouraged to apply now.

Q: How quickly will we receive funding after we submit invoices?
A: You can receive funding within 24-48hrs of submitting an invoice..

Q: How does factoring affect my relationship with my customer?
A: You prepare your customer's invoice and forward it to the factor for an immediate cash advance. The factor bills the invoice to your customer and then follows up on it to ensure receipt of payment.

Q: How will factoring affect my ability to obtain traditional bank financing?
A: Factoring can improve your ability to obtain traditional financing by improving your cash flow, reducing your operating expenses and increasing profitability. With our assistance, our clients are able to more rapidly surmount the financial hurdles necessary to obtain bank financing.

If you would like to get started, click on the link below.

Apply Here

EQMI, LLC * 1 Paddock Way * Mt Holly, NJ 08060 * 877.252.5064