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Frequently Asked Questions
Q. What portfolio size minimums and maximums?
A. With factoring you can sell as little as $15,000 per month. For installment contract financing the volume needs to be at least $35,000 monthly. For a one time bulk purchase of installment contracts the funding amount needs to be at least $100,000. There is no maximum limitation as our network funds in excess of a billion dollars worth of receivables.
Q. How long does it take to get funded?
A. Funding times can vary greatly depending on the type of deal and due diligence requirements. Some factoring deals and charged off receivables portfolio sales can take as little as a few days, where installment contract financing programs can take up to 3 months for approval. One of the biggest benefits of using East Bridge Funding when selling receivables is that our relationships and experience enable us to speed up the process greatly.
Q. What are the costs associated with selling receivables?
A. You will generally be charged a discount and in some cases the lender will hold some type of reserve. Other small origination, documentation, and/or due diligence fees may apply and varies by funder and deal specifics.
Q. What are the qualification requirements for funding?
A. Due diligence requirements also varies greatly by deal. If you are selling immediately delivered goods and services your qualification requirements will be minimal as opposed to a business that sells a product or service that has a future delivered element. Call (843) 971-7541 for more details.
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