Prospective Client Completes Credit Application
PC Prepares a Proposal in 48 Hours
PC Prepares a Purchase and Sale Agreement within 48 Hours
Client Receives Cash Advance
Here’s How It Works
- Complete the application and send it to Prestige Capital with a copy of your accounts receivable aging, accounts payable aging, and Certificate of Incorporation. Prestige reviews and analyzes application and provides a written proposal.
- Once you accept the terms of the proposal, a nominal due diligence fee is required to cover the cost of our credit investigations and legal documentation.
- Prestige prepares a Purchase & Sale Agreement (usually within 48 hours), searches for liens, and performs additional analysis on the credit of your customers.
- Execute the Purchase & Sale Agreement and send it to Prestige Capital with your first assignment and notification letter(s).
- Prestige purchases the accounts receivable and advances funds to you via wire transfer.
- When Prestige collects the payment of the factored invoice(s), the balance of the invoice (reserves), less the factoring fee, is remitted back to you 3-5 days later.