Setting up a factoring account Setting up an account at FACSA is relatively simple. First step is an application process in which we review your legal documents and we comply with our its due diligence, this process can take from one to two days, depending on your circumstances.
Present your invoice to FACSA Ous Advisors will conduct a due diligence verifying the invoices, your customers creditworthiness and their satisfaction. After approving your customers, the factor reviews outstanding invoices and inspects them for accuracy and completeness, verifying with your customers that the invoices are genuine, the products or services have been received and accepted, and the invoice dates are correct.
Notice of assignemnt Once the due Diligence is over, FACSA will ask you to notify your client a notice of assignment that instructs them to send invoice payments directly to the factor, once received that you and the factor will sign a financing agreement.
Funding FACSA will advances you money, typically between 70 and 90 percent of your invoice, depending on your industry.
The invoices are settled Your client will pay FACSA according to the terms of the invoice. Our advisors will handle the collection on all the invoices you assign us.
FACSA closes the cycle Once Facsa collects the outstanding payments from your client we will returns the remainder to your company, minus the financial costs.
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