American Capital Services has created an invoice factoring program for the environmental services industry.
Because of the long payment terms standard to this industry, factoring companies have been unwilling to purchase invoices with a 60-120 day range. Working closely with the owners of 2 environmental services companies with over 30 years experience in the industry, ACS has developed a specialized invoice factoring program. We understand that your invoices will not always have a set payment term. What was thought to be a net 60 invoice could extend to 90 or even 120 days depending upon circumstances beyond your control. To serve your needs as an environmental services provider, the program works as follows:
1. You submit only the invoices you want to factor to ACS (no upfront fees and no long term contracts)
2. We verify the invoice with your customer
3. We pay you 80% of the invoice and hold back the remainder for our fees and normal reserve (i.e. $10,000 invoice - we pay you $8000)
4. Your customer pays the invoice and we release the reserve minus our fees. (For example - Your customer pays us in 60 days* we release $1400 to you from the holdback and keep $600. Our fee is 3% per 30 days therefore 60 days is 6%)
*We understand that a client may have estimated that they would pay us in 60 days, yet there could be delays to 90 or even 120 days. We will inquire with the client regarding status of the invoice in a professional and courteous manner, as the relationship with your customer is of utmost importance to both you and American Capital Services.
**Our final fee will be based on the actual number of days in which the invoice is paid, prorated at a rate of 3% per 30 days.
In today's economy, steady cash flow can make or break your company's growth and day-to-day operations.
With our invoice and accounts receivable factoring services, ACS can help turn your unpaid invoices or accounts receivable assets into cash - With no liability to your company, no change in ownership, and no future debt to repay.