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11-30-2018, 08:32 AM #1
- Join Date
- May 2018
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Invoice Factoring or Invoice based revolving line of credit
Hi
We're a trucking company with invoices that are Net 10 to Net 30. In rare cases Net 45.
The company was incorporated in 2009, and we're the new owners since July 2018. So far we've relied on the previous owner's factoring solution, but now we're looking for our own.
We're invoicing about $35k to $50k a week. November, December are slow, but the rest of the months are $35k a week minimum. The company has stable revenues for years. Statements, of course, are all available.
Right now we're factoring about 60% of all our invoices at a decent rate, but the previous owner wants out, and we're looking now for our own solutions.
Ideally, we'd like this setup as soon as next week. Time matters more than rates at this time to us. We're open to both discounted factoring or interest paid on a revolving line of credit.
NOTE: The buyer is a Delaware C-Corp with foreign directors (The buying corporation has EIN but the corporation's directors do not have SSN)
Hope to hear from you soon
Thanks very much
RP
P.S. Please PM me if you'd like to know who's factoring our invoices now, and at what rates. It's a flat discount rate.Last edited by stmarys; 11-30-2018 at 08:34 AM.
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