Results 1 to 7 of 7
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05-21-2020, 06:06 AM #1
- Join Date
- Aug 2018
- Posts
- 696
Factors that do not notify clients - need a few!
Please assist. I need factors that do not notify clients.
Ty
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05-21-2020, 06:23 AM #2
- Join Date
- Mar 2015
- Location
- Rock Ridge
- Posts
- 3,459
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05-21-2020, 08:58 AM #3
- Join Date
- Feb 2017
- Posts
- 3,347
There's a great one, minimum revenue $1mm/year and 2 years TIB. True non-notification, not an all-encompassing asset-based LOC. Just the AR
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05-21-2020, 09:21 AM #4
- Join Date
- Mar 2015
- Location
- Rock Ridge
- Posts
- 3,459
TIB does not matter. If you understand the billing process/customers, this can be done by some factors. Some factors CLAIM they can do it, but their credit policies do NOT allow it.
Hedley Lamarr......That's Hedley
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05-21-2020, 10:10 AM #5
- Join Date
- Feb 2017
- Posts
- 3,347
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05-21-2020, 10:32 AM #6
- Join Date
- Jan 2014
- Posts
- 1,361
Only ABL lenders are non-notification. invoice factors will always verify by reaching out, but some are way more intrusive then others in that aspect.
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05-21-2020, 10:35 AM #7
- Join Date
- Mar 2015
- Location
- Rock Ridge
- Posts
- 3,459
Micah,
Again, there are some that claim they can offer non-notification, but ultimately will not close or change terms because their senior lender does not allow the practice. I know some of the other non-note factors out their than can offer the product because they are equity driven or ultra high net worth driven. That being said, their cost of capital is expensive and so are their rates to end customer. If their senior lender is one of the usual suspects that I know, they are prohibited from offering the product. We can offer the product within reason as we don't have a senior lender outside the firm to answer to.
A lot of factors claim they can close deals and do things. It quickly get squashed because their senior lender caught them doing it or they are very expensive because they are using their own equity/debt.
Right now a lot of factors and other non-bank finance companies are under pressure from their senior lenders to "get back on the reservation" regarding practices.Hedley Lamarr......That's Hedley
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