Choose the Right Factoring Service for Your Needs
Are you interested in full or partial-service factoring? Rates vary based on the extent of the services you choose.
Get money quickly and improve your immediate cash inflow.
• You Receive the Full Invoice Value
• Fees from 2% to 3.5%
Let us assist with a smoother cashflow and financial planning.
• You Receive a Portion of Invoice Value
• Fees start as low as 0.5%
Select Your Preferred Terms
Work with one of our financing reps to select the terms that are right for you based on your operations, aging report, and qualifying factors. The Lendr team can help you explore your options and select the most desirable terms.
• Terms 18 – 24 months (Auto-renewal option included)
• Payment Periods Net 30 – Net 47
• Most Common Offer – 2% Net 30
Work With an Industry Expert
Lendr has experience factoring for many industries, so let’s see how we can help your business. Even if you are not in one of the industries below, we can certainly assess your business’ needs and see what factoring options are available.
Some of the Industries We Serve
Medical | Oil & Gas | Staffing | Logistics
See If Factoring is Right for Your Business
Factoring is a financial transaction and type of asset-based funding opportunity that allows you to sell your accounts receivable (i.e., invoices) to a factoring company or “factor” at a discount. It is also commonly referred to as accounts receivable factoring, invoice factoring, or accounts receivable financing. Factoring is great because you can quickly access funds that normally would take your business a long time to collect.
Frequently Asked Questions
Click the questions below to see the answers to our typically asked questions.
To get started with a factoring agreement with Lendr, here’s what you’ll need:
- Factoring application
- Updated aging report (AR)
- 2 years of most recent business and personal tax returns
- 1 month of business bank statements
Throughout the application process, you will need to collect and submit several documents to your Lendr account manager.
- Completed factoring application for all majority owners
- Two years of corporate tax returns and two years of personal tax returns for all majority owners
- Copy of driver’s license for all majority owners
- Articles of Incorporation for the company and the Operating Agreement
- Workers Compensation Certificate
- Financial statements for Year-End of the past calendar year
- YTD AR Aging, YTD PL, YTD Balance sheet
- Voided check for ACH deposits
- A copy of any current invoicing
We will keep your approved application on file for 90 days. After that, you will need to reapply with updated documents to receive new invoice factoring approval.
An aging report (AR) is a document that lists unpaid customer invoices and unused credit memos by date ranges. The primary purpose is to keep track of unpaid customer invoices and the number of days they have been outstanding (i.e. overdue for payment).
No. Neither the business or factor acquire or issue debt as part of a factoring agreement.
Factoring and asset-based lending are similar in that your assets are utilized to help you get funding right away.
With both commercial asset-based lending and personal asset-based lending, you get to keep your assets. Then, it is your responsibility to collect invoices and pay back the asset-based loan as agreed in your terms and conditions. Asset-based lending is more like an equity line of credit or term loan from an asset-based lending bank.
Factoring is a “buy-out.” You are not responsible for the collection of the invoices you sell. Instead, we purchase them from you at a small discount and then collect the funds from your clients and customers.