factoring your receivables
DESCRIPTION
We prepared a slide show to describe the in\'s and out\'s of factoring with Resource Business Partners. Initially created for a local networking audience, this slide show quickly walks you through all the elements involved in a factoring transaction and relationship with a factor.TRANSCRIPT
Resource Business Partners, Inc.
Factoring your
Accounts Receivables
Founded in 1999 by Liz & Randy
Law Firms, Security Firms, PI Firms Commercial Construction (progress billing OK) Answering Service, Trucking, Telecommunications Staffing Firm, Computer Chip Mfg., Janitorial Engineers, Architects, Consulting Firms Textiles, Computer Software, Apparel
Resource Business Partners, Inc. Self Funded Family run + spirit of Entrepreneurship 10th year in business $3 million funds employed / 80 clients $2,000 - $250,000 per month available
Who is Resource Business Partners?
Who is Resource Business Partners?
Senior Senior Business Business
DevelopmeDevelopmentnt
Owner, Owner, Underwriting,Underwriting,& Collections& Collections
Owner, Owner, Operations, Operations, & Collections & Collections
All working together for rapid funding of your ongoing operations
What is Factoring?What is Factoring?
• The process of selling your receivable at a small discount
• You get $$ for your invoices TODAY• The factoring company then waits for
your customer to pay• Factoring is not a loan• Doesn’t show up on balance sheet• Treated as an “early payment” • You can write off the factoring fee as a
“AR discount fee”
When & Why Factor?
When & Why Factor?
Here’s why our clients factor with us…..
“…I use RBP because I don’t want to pay for an AR clerk to chase my invoice payments – RBP does it for me, and I get paid immediately!”
-Workers Compensation Surveillance Investigator
“…I pay my employees & subcontractors on time, even when my clients don’t pay me on time…”
-General Engineering & Construction Company Owner
“…Confidence. That’s what I get. Knowing that RBP will fund my completed projects, I am confident go chase after new clients…”
-Underground Construction Subcontractor
How Factoring Works
How Factoring Works
Here's an example:
Client's invoice: $1,000Cash advanced to client from RBP: $ 800Reserve fund set up for client: $ 200
----------------------------------------- “In 30 days, the customer sent payment to RBP”
-----------------------------------------
Customers payment received by RBP: $1,000RBP returns reserve fund, less fee: $ 150RBP retains fee for service: $ 50
Dispelling the Myths of Factoring
Dispelling the Myths of Factoring
Word Association GameWord Association Game
Our Factoring Philosophy
Our Factoring Philosophy
Here when you need us, gone when you don’tHere when you need us, gone when you don’t
We promise to…We promise to……Get you $$ so you can pay your vendors (and get early pay discounts from them)…Connect you with a team of experts to address structural issues that brought you here…Get your AR ‘turn’ reduced…Work to get you bank qualified…Provide you with excellent references to banks…Not charge termination fees…Give you control, factor what and when you want…Charge the same rate to everyone in our portfolio
…Get you $$ so you can pay your vendors (and get early pay discounts from them)…Connect you with a team of experts to address structural issues that brought you here…Get your AR ‘turn’ reduced…Work to get you bank qualified…Provide you with excellent references to banks…Not charge termination fees…Give you control, factor what and when you want…Charge the same rate to everyone in our portfolio
Why am I at B2B?Why am I at B2B?