Frequently asked questions
What does Platinum Funding Group provide?
We are a finance company specialized in providing factoring of accounts receivable. We offer a variety of financial products and services to our clients, ranging from factoring, the purchase of accounts receivable, specialized funding, letter of credit, purchase orders financing, debtor-in-possession financing. Through years of experience, we have gained insights into market activity, serving as partners in our clients' progress.
How can I benefit from the products and services that Platinum Funding Group offers?
If you are a company with any of these needs, Platinum Funding Group can help you find practical, fast and reliable financial solutions:
· Improve your cash flow
· Expand your working capital
· Needing bridge funding
· In distress or is considering filing for bankruptcy
Who may need Platinum Funding Group's services?
We offer funding to companies who:
· Are growing dynamically, have maximized their bank lines of credit and need additional capital
· Are unable to obtain financing through their local banks because they are young or even a startup.
· Are currently in workout at their bank and the company is seeking alternatives.
· Have filed or about to file bankruptcy.
· Are looking for quick bridge financing in order to obtain permanent financing. top
Who are Platinum Funding Group's clients?
We serve a variety of industries, including:
· IT staffing companies
· Temporary staffing agencies
· Distributors (hosiery, electronics, fuel, food and beverages, etc.)
· Importers (apparel, diamonds, home furnishings, chemicals, etc.)
· Printers
· Janitorial, building maintenance and window cleaners services.
· Security guard agencies
· Limo services
· Computer consultants
· Modeling agencies
· Photographic labs
· Software developers
· Graphic design companies
· Media and publication companies. top
What are the prospect qualifications?
· Companies must sell their products or provide services to creditworthy commercial clients.
· Companies annual sales volume should exceed $1,000,000. top
What don't we fund?
Companies with consignment sales, pre-billing or progress billing
Construction deals where the general contractor will have a first lien
Third party medical deals (the receivables are paid by Medicare/Medicaid). top
How quickly can funding be arranged?
Platinum Funding Group is known throughout the industry for being fast and efficient.
With sufficient information, the typical turnaround time from the initial conversation to receiving the needed funding is about 7 business days. After that, clients can expect funds to be wired directly into their bank accounts within 24 to 48 hours. top
Why should companies finance their receivables?
Besides providing additional working capital, Platinum Funding Group's program has many other benefits to the company:
· Take early advantage of volume discounts and early payment discounts.
· Purchase additional inventory.
· Reduce bad debt and improve credit rating.
· Outsource its accounts receivable management, credit checking and collections.
· Increase advertising and marketing efforts.
· Finance seasonal needs or larger orders.
· Offer extended credit terms to its clients.
· Keep fixed assets unencumbered.
· Retain equity.
· Meet increasing sales demands without having to worry about restrictions of conventional lines of credit. top
When was Platinum Funding Group founded?
Platinum Funding Group has been a financial partner to hundreds of companies in the US since 1992. Our senior advisors are committed to helping build the financial success of their clients. top
I want to contact a Platinum Funding Group financial advisor?
Our dedicated team of experts will be happy to assist you with your financial needs. You can call our toll free number 1-888-700-PLATINUM. We will review your situation, and offer fast, reliable solutions that fit your particular requirements. top
Where are your offices located?
Platinum Funding Group’s headquarters are located in Manhattan, New York; our corporate offices are in Hackensack, New Jersey, and we have a network of offices throughout the country. We are able to efficiently serve clients throughout the United States. top
I want to join your team. Can I become a broker?
Platinum Funding Group is always looking for brokers and partners to join its ranks. We can develop a mutually beneficial relationship. Visit our Broker page. top |
