What is factoring?
Factoring is a financial transaction in which an entity sells its accounts receivable (i.e., invoices) to a third-party financier at a discount. On the invoice becoming due, the Factor will receive the invoice amounts from the invoice payer as per the payment terms and conditions of the invoice. After deducting the amount owed to itself (factoring principal, interest and fees), the Factor will pay to the Seller the excess invoice amount received.
Step 1. Client contact
Contact IMFact to find out how we work and the benefits for your business.
Step 2. IT Connection
Our IT systems connect to handle invoices. You can access IMFact’s system for support in debtor analysis.
Step 3. Upload invoices
Upload your invoices to IMFact’s system and gain immediate access to funds.
Step 4. Track your funds
24/7 access to your company’s available funds.
Step 5. Access to funds
On the day of payment, your company will have access to the remaining part of the invoice.
Step 6. Control
You remain in charge of your business relationships and the collecting process of invoices.