Government Factoring
Specialized invoice factoring for government contractors.
Invoice Advance has distinguished itself from the competition, through our "Factoring just got simple" mantra. We challenge our staff to find innovative solutions that meet or exceed our customer's financial needs and expectations, all while keeping it as simple and straightforward as possible.
The most significant element in using a Factor to finance your company's contracts with the federal government has to do with the Assignment of Claims Act that Congress passed in 1986 (31 U.S.C. 3727). This act states that a contractor or its assignee may assign rights of payment to a financing institution. This is what we call the assignment of invoices, known as government / invoice factoring or accounts receivable financing.
Our Government Factoring programs are custom tailored for businesses by our government account specialists. Our "—Simple" approval system puts you in the driver seat from the beginning. In most instances we can provide you with one or more factoring solutions and a rate quote in just a few brief minutes. So, what do you have to lose? Call us today.
The Factoring Cycle:
You sell a product, and or a service to your client.
Step 2:
You invoice your client, and submit a copy of the invoice(s) to Factor.
Step 3:
Factor then verifies the authenticity of the invoice(s) submitted.
Step 4:
Once verified, Factor will fund 70 – 90% of invoice(s) face value.
Step 5:
Factor will now wait on payment of invoice(s) from your client.
Step 6:
Once paid, the Factor pays you the remaining 10-30% (less service fees).
Step 7:
That's all she wrote; repeat "The Factoring Cycle" as often as needed.