How Factoring Works
Easy to Apply, Simple to Qualify
The factoring process is quick, easy and gets your company the funding you need within 24 hours. Here’s how accounts receivable factoring works:
- You serve your customers as usual.
- After services are completed and/or products delivered, submit the invoices you wish to factor to PRN Funding.
- PRN Funding will verify the invoices and notify your customers to send the payment to our lock box
- PRN Funding advances cash to your company, usually between 80 to 90 percent of the invoice amount. The remaining percentage is held in reserve until payment is received.
- Your customers pay their invoices to PRN Funding.
- Once PRN Funding receives payment, we release the reserve amount minus a small fee for our factoring services.
Ready to Get Started?
- First, fill out an online application
- We review your factoring application immediately. If approved, we will forward documentation for your review and approval.
- When you return these documents, we review your company’s background for UCC liens, tax liens, judgment liens, etc. This review can typically be completed within 3-5 days.
- Once the review is completed, funding can begin immediately.
Request a quick quote today!