How does the program work?
Sallyport Commercial Finance provides you with working capital in a variety of ways. Essentially, all of our financing programs involve the purchase of accounts receivable/invoices. For a more detailed description, please visit our services page.
What are the basic requirements of a client?
We are happy to work with any client whom we think we can help. We are looking for businesses that can improve their profitability and grow through increased working capital. Businesses that supply goods or services to other businesses that pay for those goods or services on credit terms are suitable for factoring. Sallyport Commercial Finance can free up your working capital in unpaid invoices and improves your cashflow. Please do not hesitate to contact us if you like to learn more or have any questions.
How long do I have to be in business to be a Sallyport Commercial Finance client?
Our clients range from start-ups to well-established firms. There is no minimum requirement and the management at Sallyport Commercial Finance have many years of experience of helping to grow new start businesses, and maintaining excellent relationships with well established businesses who need working capital.
How does my business benefit?
Growth and Increased Profits – When you inject additional working capital into your business, you can eliminate cash flow problems and realize your true potential for growth.
Decreased Costs – We can free up your resources by taking over the administrative burden of collections. You can also take advantage of discounts from suppliers by having access to cash on hand.
Reduce Credit Risk – Sallyport Commercial Finance will conduct diligent underwriting of your account debtors, which can help you make your supply decisions.
Improved Business Management – With additional working capital, you will have more business flexibility (to increase your inventory, offer special terms to customers, pay off existing debt, capture new opportunities, etc.).
Where and how does my money get funded?
We can wire or ach funds directly to your business bank account.
How do I keep up with the accounts I’ve sent to the factor for funding?
You will have online access 24 /7 and will be able to view all activity on your account on a real time basis. You will also have access to run aging reports and other reports to help with accounting.
What criteria does Sallyport Commercial Finance use to set the fee?
Projected sales volume “going through” the program. But unlike most factoring companies we tailor the fees so that you can control the cost. If you do not need to borrow funds then you do not pay the interest. Some other things we look for include:
- Turn of your historical and projected receivables
- Number of customers
- Average invoice size
To be funded by Sallyport Commercial Finance do I have to be in certain states?
Sallyport Commercial Finance can fund any client registered in any state in the U.S.
What about the location of my customers?
Sallyport Commercial Finance can fund invoices to all countries, except those Black Listed by the U.S. Government. For more information on Export Receivables click here.
My customer relationships are very valuable to me; how can I be sure these relationships will not be disrupted?
We take great care in how we approach your customers in making verification and collection calls. We understand that these are the lifeblood of your business as you are ours. We deal with all customers in a professional ad courteous way, and if any dispute arises, we refer back to you to resolve it.
How long does it take to process my application and get me my first funding?
When we have received your signed proposal with supporting information, we can issue legal documents. Once signed legal documents are returned, we can commence verification and fund immediately thereafter.