SERVICES

Invoice Factoring

Invoice factoring is a financial tool whereby a company sells its outstanding accounts receivable at a discount to accelerate its cash-flow. With this financial tool, companies who sell their products or services in a B2B environment (business to business) and offer their clients payment terms from 30 to 90 days, can obtain an immediate advance of up to 90% of their eligible accounts receivable. Selling your accounts receivable to a company like Summar is called Factoring.

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There are two types of Factoring:

Recourse Factoring

 

Recourse Factoring is when your factoring company purchases your receivables but your company must buy back any receivable that the factor cannot collect payment on.

Non-recourse Factoring

Non-recourse Factoring means that you sell your invoices to the factoring company whom, under certain pre-negotiated terms, purchases your invoices without any responsibility back to your company. In other words, the factoring company purchases your receivables on a firm basis and will usually assume the risk of non-payment solely for credit reasons.

Summar provides non-recourse invoice factoring facilities that range from $100,000 to $5,000,000.

Companies Who Benefit From Invoice Factoring:

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Early Stage Companies or Start-ups

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Companies with High Concentration of Sales to a Single Client

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Fast-Growth Companies

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Companies with IRS Tax Liens

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Companies Turned Down by Banks for Financing

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Companies Showing Operating Losses

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Companies in Need of Payroll Funding

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Seasonal Businesses

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Companies Facing a Turnaround

This service typically includes:

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Credit Analysis

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Customer Service

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Funding

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Collections

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Credit Insurance

Industries We Serve:

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Aviation

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Apparel

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Automotive Suppliers

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Beauty & Cosmetics

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Construction Supplies

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Consulting

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Electronics Wholesalers

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Engineering

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Exporters & Importers

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Floral Importers & Wholesalers

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Food & Beverage

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Frozen Food

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Janitorial

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Marketing & Advertising

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IT Staffing

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Machinery & Equipment

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Manufacturing

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Oil & Gas

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Produce Importers

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Seafood Importers & Wholesalers

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Security Staffing

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Temporary Staffing Agencies

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Technology & Communications