ACCOUNTS RECEIVABLE FACTORING FACILITIES
Synergy Partners has joined forces with one of the largest factoring operations in the United States, converting over 500 companies’ accounts receivable into cash daily. Historical purchases up to $1 billion annually. This joint venture will allow Synergy Partners to offer yet another product to financial institutions to achieve growth through new accounts, non-interest income, higher profitability, and increased retention.
Benefits of Factoring
- Generates immediate cash from operations.
- No restrictive financial covenants.
- Often an alternative for clients that might otherwise sell equity or seek partners.
- Clients utilize full benefit of our credit department at no additional cost.
- Allows clients to take advantage of purchase discounts.
- De-leveraging effect.
Our Competitive Advantage
- Our fees and rates are typically much lower than other factoring companies (often more than 50%lower) in the industry.
- Our policies and procedures are under constant scrutiny by regulatory agencies resulting in a more professional approach with customers than some competitors employ in the factoring industry.
- Debtors can continue making payments to the name of your bank.
- We do not compete for any banking business. Non-compete language is included in the formal referral agreement.
- All notification to debtors is presented on your bank’s letterhead.
- The referral partner has the ability to win ancillary bank services and a long-term relationship with prospective customers that would otherwise not qualify for traditional bank financing.
- We offer flexible contract terms (90-days to 12-months).
- Our pricing is calculated from funding date vs. invoice date (many competitors charge from invoice date).
- We allow the customer to factor as needed. The customer does not have to factor every invoice. We do not have minimum requirements or unused fees.
- We will waive wire fees if the company referred maintains a depository relationship with the referral source.
- We will waive the early exit penalty should the company be approved for a traditional loan with the referring bank
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