Who Qualifies for Factoring?
Hamilton's clients are typically small and mid-size businesses that are either unable or unwilling to utilize traditional forms of financing. Almost all of Hamilton's clientele are rapidly growing businesses. Hamilton makes no distinction between manufacturers or service providers, large corporations or closely-held firms. Simply, if a company makes and sells a product, or delivers a service to a credit-worthy commercial customer, that firm is a candidate for Hamilton's financial assistance.
"Factoring means more capital for your venture! Business Finance Made Simple."
Although this description is purposely broad, Hamilton's diverse clientele do share a number of common traits:
- The need for working capital to support operations required for revenue growth (e.g., marketing, product development, payroll, accounts payable).
- Periodic cash flow pressure is experienced more than 2 to 3 times per year.
- For any number of reasons, typically do not possess or choose not to utilize traditional bank credit lines to support operational growth.
- The need for accelerated receipt of outstanding invoices.
- The desire to take advantage of trade discounts or other long-term sensible financial investments.
While Hamilton recognizes the need and merit for exceptions, its clients are typically required to:
- Business must be LLC, C Corp, S Corp (not D/B/A, sole proprietorship, or partnership).
- Generate revenues of at least $200,000 per year.
- Be profitable, or if not, possess a credible plan to achieve profitability within 1 year.
- Have a clean tax record or the ability to correct current deficiencies.
- Have no liens currently outstanding against corporate receivables. In other words, accounts receivable are not already pledged as collateral.
- Have invoices for potential financing with a minimum size of $200.
- Possess strong customer relationships.