Need a Funder or Vendor? START HERE

Results 1 to 7 of 7
  1. #1
    Senior Member Reputation points: 29177
    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

  2. #2
    Senior Member Reputation points: 337045
    Join Date
    Mar 2015
    Location
    Rock Ridge
    Posts
    3,453

    Quote Originally Posted by Zonefund View Post
    Please assist. I need factors that do not notify clients.

    Ty
    It is possible depending on the size of the company, billing processes, and the customers.

    Happy to see if we can help.
    Hedley Lamarr......That's Hedley

  3. #3
    Senior Member Reputation points: 216519
    Join Date
    Feb 2017
    Posts
    3,334

    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

  4. #4
    Senior Member Reputation points: 337045
    Join Date
    Mar 2015
    Location
    Rock Ridge
    Posts
    3,453

    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

  5. #5
    Senior Member Reputation points: 216519
    Join Date
    Feb 2017
    Posts
    3,334

    Quote Originally Posted by Kevin Henry-Seacoast View Post
    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.
    I'm referring to a very specific lender. Maybe even it's 1 year TIB, but they have their rules. One example is that they also don't take contractors or anything in construction or anything with medical insurance AR. Non-notification factoring.

  6. #6
    Senior Member Reputation points: 203054
    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.

  7. #7
    Senior Member Reputation points: 337045
    Join Date
    Mar 2015
    Location
    Rock Ridge
    Posts
    3,453

    Quote Originally Posted by abfunders View Post
    I'm referring to a very specific lender. Maybe even it's 1 year TIB, but they have their rules. One example is that they also don't take contractors or anything in construction or anything with medical insurance AR. Non-notification factoring.
    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

Similar Threads

  1. ML Factors?
    By ryan $ in forum Merchant Cash Advance
    Replies: 1
    Last Post: 08-21-2019, 04:46 PM
  2. ML Factors
    By patrickw in forum Merchant Cash Advance
    Replies: 3
    Last Post: 04-12-2019, 10:28 AM
  3. Ml factors?
    By FUND3R1 in forum Merchant Cash Advance
    Replies: 4
    Last Post: 10-09-2017, 09:51 AM
  4. Replies: 10
    Last Post: 02-24-2016, 07:03 PM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

BoA launches business loan marketplace
Quickbooks adds new LOC product
Dext Capital upsizes corp note


DIRECTORY