Invoice Factoring UCC
Most factoring companies require a first position UCC in order to factor invoices. Our second position UCC invoice factoring does not require a first position. Do to the large need of small business owners to boost cash by factoring invoices we created a solution allowing for invoice factoring without a first position UCC. The Covid 19 pandemic SBA emergency loans provided by the SBA and SBA banks has led to millions of small business owners finding out a first position UCC was filed on the company when the loan was approved and funded.
Business owners now do not need to wait for the SBA or the bank to subordinate in order to factor invoices. Our second position UCC program allows us to provide the invoice factoring services in second position leaving the SBA or bank in first position. Most factoring companies cannot factor invoices without a first position UCC and require the loan either be paid off or a subordination be processed which is not an easy task in most cases.
FactoringFast.com has filled a void in the accounts receivables financing industry by offering a unique solution to the issue that many face when looking for additional working capital when the SBA or banks have filed a first position UCC. We will not ask for a UCC termination or a UCC subordination since we are OK with filing our UCC behind your bank or the SBA in second position. Find out if second position UCC invoice factoring makes sense for your business by filling out our invoice factoring quote application. We can also discuss your situation and funding needs over the phone at 1-888-897-5470 and often have a factoring quote within twenty four hours.
We have second position invoice factoring available now and understand business owners need flexible funding options. I’m sure if you have talked with other factoring companies you have been told our program does not exist. We can factoring invoices without a first position UCC in all states and most industries including staffing companies and the trucking industry with second position freight bill factoring.
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OTHER BENEFITS THAT CASH FLOW FACTORING CAN PROVIDE:
- – Get funding now and leave the bank in place
- – Keep growing by adding additional working capital
- – No cost for a credit review of your customers
- – Use us when you need us no long contracts
We fund invoices the same day we receive them from our clients. The invoices are submitted using our portal or emailed scanned copies. We will then confirm and verify your invoices before transferring the cash to your selected business bank account. Your customers will send payment to our lock box or bank account and any remaining amount not advanced will be send to you less the accrued factoring fee.
INDUSTRIES THAT WE WORK WITH IN SECOND POSITION :
- Staffing Companies – Funding for payroll even if your bank will not provide what you need.
- Manufacturing Companies– Invoice factoring in place and ready when you need the extra working capital behind your bank loan.
- Technical Consulting – Cover payroll needs as projects require while keeping your bank loan in place.
- Cable and Wire Services – Keep crews paid weekly.
- Trucking Companies – Quick cash to pay your drivers and keep up with fuel cost.