What is Factoring?
Factoring is a tool you can use to be paid for your services within 24 hours or less. When you deliver a shipment, it takes your customers several weeks or more to pay. This delay can cause significant strains on your daily cash flow needs, and can limit your ability to grow your business to its full potential.
What we do
Once you deliver a shipment, SwordGate Capital will advance up to 95% of the total invoice value within 24 hours. The remainder, less interest, is issued once we receive payment from your customer. The rate we charge depends on the length of time it takes for your customer to remit final payment, but usually ranges from 1% to 2.8%. Flat interest rates are also available, and range from 1.25% to 5%, depending on the invoice percentage advanced that day.
In addition to meeting your cash flow needs, SwordGate Capital serves as your personal accounts receivable administrator. We invoice your customers and process receipts for you. We also offer a free administrative portal which allows you to track the progress on all of the open invoices factored with us. Within the portal, we maintain all of your invoice history, as well as pertinent customer information, so you don’t have to. It is a one stop shop for your administrative needs. You are able to view all fees associated with your factored invoices, so there are no surprises. Reports can also be downloaded at your convenience. The customer portal is an optional feature that can be accessed 24/7.