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  1. #1
    Senior Member Reputation points: 11927 FUND3R1's Avatar
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    Residential Milestone Contracting Factoring

    Good Morning DF.. Does anyone know any good Factoring companies. Looking for Residential Milestone Contracting Factoring.

    PLEASE NO BROKERS
    FUND3R1

    "Everyday is a bank account, and time is our currency. No one is rich, no one is poor, we've got 24 hours each. --Christopher Rice"

  2. #2
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    You CANNOT factor B2C. If this is a subcontractor, there are a several of them that can do it, but if you're working with the GC, forget about it.

  3. #3
    Senior Member Reputation points: 11927 FUND3R1's Avatar
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    Quote Originally Posted by abfunders View Post
    You CANNOT factor B2C. If this is a subcontractor, there are a several of them that can do it, but if you're working with the GC, forget about it.
    Can you list some of the factoring companies you use?
    FUND3R1

    "Everyday is a bank account, and time is our currency. No one is rich, no one is poor, we've got 24 hours each. --Christopher Rice"

  4. #4
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    I personally work with over a dozen depending on the deal. There are so many reasons to use one factor over another. Industry, pricing, if they need out to 120 days, the way they factor (if they require all AR to go through them or not, for example), minimum volume requirements, if the client is profitable, how much the factor tolerates MCA debt to pay it off (or go after subordination), minimum credit requirements for the client, TIB, if the client has negative bank days, if they have equipment and/or inventory to qualify for a LOC rather than a regular factoring.

  5. #5
    Senior Member Reputation points: 11927 FUND3R1's Avatar
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    Quote Originally Posted by abfunders View Post
    I personally work with over a dozen depending on the deal. There are so many reasons to use one factor over another. Industry, pricing, if they need out to 120 days, the way they factor (if they require all AR to go through them or not, for example), minimum volume requirements, if the client is profitable, how much the factor tolerates MCA debt to pay it off (or go after subordination), minimum credit requirements for the client, TIB, if the client has negative bank days, if they have equipment and/or inventory to qualify for a LOC rather than a regular factoring.
    Can you point me in the right direction and name a few if you don't mind.
    FUND3R1

    "Everyday is a bank account, and time is our currency. No one is rich, no one is poor, we've got 24 hours each. --Christopher Rice"

  6. #6
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    I'm going to give you a secret about factors. Many factors will point you to others who can do the deal. I was once shuffled through something like 5 factors, all were trade references of the other one, once before finding a home. Start with Kevin at Seacoast. He's here, he's accessible, he doesn't waste time, but he does have a slightly higher bar for the quality of the deals he funds.

  7. #7
    Senior Member Reputation points: 11927 FUND3R1's Avatar
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    Quote Originally Posted by abfunders View Post
    I'm going to give you a secret about factors. Many factors will point you to others who can do the deal. I was once shuffled through something like 5 factors, all were trade references of the other one, once before finding a home. Start with Kevin at Seacoast. He's here, he's accessible, he doesn't waste time, but he does have a slightly higher bar for the quality of the deals he funds.
    Will give it a shot, appreciate the feedback.
    FUND3R1

    "Everyday is a bank account, and time is our currency. No one is rich, no one is poor, we've got 24 hours each. --Christopher Rice"

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