LUXMAC COVINO & COMPANY INC.

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Last updated: 04/13
Equal Housing Lender

FACTORING/RECEIVABLE FINANCING

Date : 03/26/2010

 

Through years of experience, we have gained insights into market activity, serving as partners in our clients' progress.

Factoring | Receivable Financing Options

Our Factoring Division offers a variety of financial products and services to our clients, ranging from:

  • Factoring

  • Purchase of Accounts Receivables

  • Specialized Funding  

  • Letter of Credit

  • Purchase Orders financing

  • Debtor-in-possession financing

Benefits of Factoring

  • Improve your cash flow

  • Expand your working capital

  • Needing bridge funding

  • In distress or is considering filing for bankruptcy

Who needs Factoring | Receivable Financing

Your Company may need our services if you:

  • Are growing dynamically, have maximized their bank lines of credit and need additional capital 

  • Are unable to obtain financing through their local banks because they are young or even a startup. 

  • Are currently in workout at their bank and the company is seeking alternatives. 

  • Have filed or about to file bankruptcy. 

  • Are looking for quick bridge financing in order to obtain permanent financing.


What type of Client needs Factoring | Receivable Financing

We serve a variety of industries, including: 

  • IT staffing companies 

  • Temporary staffing agencies 

  • Distributors (hosiery, electronics, fuel, food and beverages, etc.) 

  • Importers (apparel, diamonds, home furnishings, chemicals, etc.) 

  • Printers 

  • Janitorial, building maintenance and window cleaners services. 

  • Security guard agencies 

  • Limo services 

  • Computer consultants 

  • Modeling agencies 

  • Photographic labs 

  • Software developers 

  • Graphic design companies 

  • Media and publication companies

Prospect Qualifications

  • Companies must sell their products or provide services to creditworthy commercial clients

  • Companies annual sales volume should exceed $1,000,000

What we don't Fund

  • Companies with consignment sales, pre-billing or progress billing 

  • Construction deals where the general contractor will have a first lien 

  • Third party medical deals (the receivables are paid by Medicare/Medicaid)

How quickly can funding be arranged?

With sufficient information, the typical turnaround time from the initial conversation to receiving the needed funding is about 7 business days. After that, clients can expect funds to be wired directly into their bank accounts within 24 to 48 hours.

 

Why Finance Receivables?
Besides providing additional working capital, there are many other benefits:


  • Take early advantage of volume discounts and early payment discounts. 

  • Purchase additional inventory. 

  • Reduce bad debt and improve credit rating. 

  • Outsource its accounts receivable management, credit checking and collections. 

  • Increase advertising and marketing efforts. 

  • Finance seasonal needs or larger orders. 

  • Offer extended credit terms to its clients. 

  • Keep fixed assets unencumbered. 

  • Retain equity. 

  • Meeting increasing sales demands without having to worry about restrictions of conventional lines of credit.

 

 

 

Simply fill out the form below and we'll contact you to go over your Transaction prior to submission.

Factoring | Recievables Financing Inquiry

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