After 40 years of serving the professional creative community of New York City, we are happy to continue to help professionals and businesses nationwide to obtain the working capital they need to maintain and grow their businesses and lifestyles. It does not matter that you have not been unable to secure bank financing, or that you have a low credit score or negative information. As long as you are a working professional with unpaid invoices, chances are we can help. If you are waiting to be paid on a previous job, and need that money to complete another job or meet other financial obligations, we can purchase from you that invoice from the previous job for cash at a discount. We pay you cash today for the right to be paid by the invoice payor later. No need to wait weeks or months to get paid. Also we free you from the administrative headache of collections and the risk of non- payment.When we get paid, we refund you the balance of the payment minus our fee. We make decisions in three day or less and can fund within 24 hours of invoice purchase for immediate direct deposit into your account. In addition, we provide payroll and payment services for your employees/independent contractors and vendors. We can set arrange things up so your clients never need to know that you are using our services. We make the entire process seamless and easy.We work exclusively with the professional creative community and we understand their financial demands. We want to help you in obtaining the money you need to be the professional you are.

Factoring is a simple and straightforward process

Typically with factoring,  the three parties directly involved are: the one who sells the receivable, the debtor, and the factor. The receivable is essentially a financial asset associated with the debtor’s liability to pay money owed to the seller (usually for work performed or goods sold). The seller then sells one or more of its invoices (the receivables) at a discount to the third party, the specialized financial organization (aka the factor), to obtain cash. The sale of the receivables essentially transfers ownership of the receivables to the factor, indicating the factor obtains all of the rights and risks associated with the receivables. Accordingly, the factor obtains the right to receive the payments made by the debtor for the invoice amount and must bear the loss if the debtor does not pay the invoice amount. Usually, the account debtor is notified of the sale of the receivable, and the factor bills the debtor and makes all collections. Critical to the factoring transaction, the seller should never collect the payments made by the account debtor, otherwise the seller could potentially risk further advances from the factor.

There are three principal parts to the factoring transaction; a.) the advance, a percentage of the invoice face value that is paid to the seller upon submission, b.) the reserve, the remainder of the total invoice amount held until the payment by the account debtor is made and c.) the fee, the cost associated with the transaction which is deducted from the reserve prior to it being paid back the seller. Sometimes the factor charges the seller a service charge, as well as interest based on how long the factor must wait to receive payments from the debtor.  The factor also estimates the amount that may not be collected due to non-payment, and makes accommodation for this when determining the amount that will be given to the seller. The factor's overall profit is the difference between the price it paid for the invoice and the money received from the debtor, less the amount lost due to non-payment.