PCC Prepares a Purchase and Sales 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 & Sales Agreement (usually within 48 hours), searches for liens and performs additional analysis on the credit of your customers.
Execute the Purchase & Sales 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 the following week.
How long does it take?
The entire underwriting and funding process typically takes 5-7 business days. The first assignment generally takes 24-72 hours after execution of the purchase & sales agreement.