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Get paid now.
In a perfect world, all your customers would pay their bills right away. In the real world though, that's just not the case. It can take 30, 60 or even 90 days or more to get paid. Why wait?
Millennium Funding's factoring program lets you turn your accounts receivable into immediate cash.
How Millennium's Factoring Program Works
The basic idea is simple. You complete your sale and bill your customer. Millennium Funding will then purchase the invoice from you, advance you a percentage of the invoice total, and then wait to get paid. Once we are paid for an invoice, we take a small fee and remit the remaining money back to you.
Benefits of Factoring
- Quick access to a steady cash flow.
Once approved, Millennium Funding can give you access to your cash within 24-48 hours.
- Credit issues are not a problem.
Credit is established based on the credit worthiness of your customers, not on your company's financial history.
- Coverage under our credit insurance policy.
We can offer you credit insurance protection on your invoices - we can help you manage your credit risk.
- Coordination with your bank.
If you have an existing credit line, that's not a problem. We can work with your current bank in order to facilitate factoring transactions.
- No liability on your balance sheet.
Because we are giving you access to money that is already owed to you, factoring does not create a financial liability on your company's balance sheet.
Our program gives you the ability to manage your cash flow. You fund what you want when you want.
- Take trade discounts to improve your purchasing power.
- Online reporting available 24/7.
Contact us to learn more about factoring financing.
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