Platinum Funding Group, a leading factoring company, provides a variety of financial products and services primarily centered around the purchase of invoices, known as accounts receivable financing. Factoring companies, such as Platinum, successfully enable their clients to meet the daily cash flow needs of a growing business while increasing efficiency and productivity. Invoice factoring serves as a strategic solution in that it provides an opportunity to secure immediate working capital, to increase purchasing power, and to improve the company’s bottom line, all of which facilitates growth.
Accounts receivable management is at the core of a company’s success and vital to the daily operations of any business. Accounts receivable is the balance due from a debtor on a current account and their promise to pay. The accounts receivable of a business are traditionally due thirty to sixty days after invoicing. As a result, a company is constantly challenged to diligently manage accounts and leverage their cash flow. They must carry sufficient working capital in order to juggle payments by their customers along with their own overhead expenses, including payroll, rent and taxes, all of which are typically paid on a more frequent basis. Accounts receivable financing is the perfect method to eliminate and relieve the interim strain of balancing receivables and payables.
For a company, particularly in high-growth or reorganization mode, often times faces the obstacle of having a limited availability to credit with their suppliers while striving to secure larger contracts and new customers. This creates a challenge to find an immediate solution for additional sources of funding, such as accounts receivable factoring, to increase working capital and fulfill the positive growth in demand by customers for goods and services. The short-term funding needed to facilitate expansion or meet seasonal cash flow needs is not readily available from a traditional lending source. For this reason, accounts receivable factoring and purchase order financing become lucrative tools in developing great strategies. Minimal paperwork is involved in comparison with a bank loan and most importantly; turn-around times are significantly faster, thus eliminating the lengthy and laborious re-application process. As a factoring company, Platinum possesses the capabilities to provide initial funding within 3-5 days.
In today’s financial world, there exists a large and often, unanswered call to meet the capital needs of this generally overlooked segment of the business community. Companies who do not have access to traditional lending sources, such as banks, for example, must now search for alternative and creative financing solutions, such as factoring services. Unlike banks, factoring companies, like Platinum, are not concerned, in any way, with the credit or balance sheet of their client. Concern lies only within the creditworthiness of their client’s customers.
Platinum Funding Group has spent over 15 years satisfying the needs of this unique niche and specializing in invoice factoring, the purchase of accounts receivable. We successfully fund these growing and ambitious companies in need of cash and our factoring services.
The accounts receivable factoring process is simple and seamless for both you and your customers. A significant portion of the invoice amount is immediately paid to you by Platinum upon purchase of the accounts receivable, once confirmed and verified by your customer. The balance is then remitted once we have fully collected on the total value of the receivable. Invoice factoring eliminates the uncertainties and stresses associated with waiting 30, 60 or 90 days to collect the money owed by your customers. Platinum specializes in accounts receivable financing, turning the accounts receivable into immediate cash, increasing our clients’ cash flow and strengthening their purchasing power.
Successful factoring companies, such as Platinum Funding Group, strive to provide the most efficient accounts receivable management for our clients. We recognize how crucial it is to understand our clients’ business plan. Operating as a factoring company, Platinum is primarily focused on accounts receivable turnover of our clients’ invoices, representing specific obligations arising from the sale of a product or the rendering of services in the ordinary course of the client’s business. The product or service must have been delivered or fully rendered, as applicable, and been accepted by the client’s customer without dispute, offset or other adjustment.
Accounts receivable factoring, or invoice factoring, provides a much needed financial resource to secure working capital without incurring additional debts or liabilities. Therefore, the balance sheet remains unaffected and equity will never be compromised.
Platinum Funding Group, successfully operating as a factoring company since 1992, takes pride in partnering with our clients and works hard to facilitate and promote their growth and expansion. We help them reach their company’s greatest potential by offering purchase order financing, continuously working to strengthen their purchasing power. As opposed to inventory financing, purchase order financing allows our clients to concentrate on maximizing their revenue potential rather than focusing on inventory management. Functioning similarly to a bank, Platinum can successfully orchestrate tri-party agreements with our client’s supplier to facilitate and complete purchase order financing transactions.
On behalf of our client, Platinum will fully back and guarantee a transaction, promising to pay our client’s supplier for the requested finished goods. Platinum's purchase order financing, in conjunction with factoring services, including accounts receivable financing and accounts receivable management, afford our clients with the opportunity to bid on larger deals, to increase their company’s sales, to efficiently acquire finished goods from their suppliers, and, ultimately, to achieve maximum growth and earnings potential.
In addition to accelerating working capital and providing lines of credit against our client’s receivables, known as invoice factoring, we also work with our clients to maximize purchasing power, which encourages ambitious growth in sales through purchase order financing. With the financial support and backing by Platinum, a premier factoring company with over 16 years of success, our client’s have unlimited earning potential. Purchase order financing strengthens our client’s relationship with their supplier and enables them to take advantage of supplier discounts when purchasing finished goods.
Purchase order financing satisfies and solves our client’s challenge when the need for goods to fill purchase orders exceeds their credit capacity with their supplier. Platinum provides alternative financing solutions through custom-tailored funding programs, mainly comprised of purchase order financing in association with various factoring services. Our clients often find that the aggregation of purchase order financing, accounts receivable financing, and accounts receivable management services gives them the financial strength and the security to expand their business and maximize their earning potential. top
Whether your business is established or a start-up, Platinum Funding Group provides the necessary financial stability and factoring services, including account receivable management, to boost revenue and maximize efficiency. Companies look to Platinum to outsource all internal collection procedures and accounts receivable turnover. We attentively manage all aspects of the process from purchase order to cash on your behalf, so your attention can be focused exclusively on the expansion of your business. Don’t want to spend any more time and frustration on invoice collections or energy arguing with your clients? Our factoring services and accounts receivable management program will help you preserve and strengthen your relationship with your customers.
As a leading service provider and partner among factoring companies, we mitigate the hassle associated with a loss of capital through our diligent accounts receivable management services. This results in an improved cash flow, an increase in efficiency with collections, a faster accounts receivable turnover and a reduction in the number of days the invoice is outstanding.
For your convenience, we offer the added-value benefit of online account information. Whether you’re traveling or need financial information after hours, your company’s confidential invoice factoring information is only one click away. If you are an established business, or a new company with exponential growth, you will profit from our thorough and experienced accounts receivable management services.
Platinum Funding Group, a factoring company, can quickly and efficiently provide funding solutions to companies that are evaluating the option to reorganize under bankruptcy proceedings or who are already operating in Chapter 11 bankruptcy. Accounts receivable factoring, or invoice factoring, provides a much needed immediate financial solution without creating debt.
United States courts mandate that companies present a reorganization plan when declaring Chapter 11. This plan must then be approved by the court in order to avoid Chapter 7 liquidation. By providing instantaneous working capital through accounts receivable financing, Platinum Funding Group assists companies, ensuring they avoid such an occurrence.
Factoring companies offer a sensible interim solution until a more substantial and long-term strategy can be structured. Through accounts receivable financing, Platinum turns invoices into cash, providing the required capital crucial to maintaining operations and beginning to paying off debt. Platinum Funding Group specializes in invoice factoring, receivable-based working capital funding, and works jointly with asset-based lenders to offer an assortment of wide-ranging solutions to meet working capital requirements.
Platinum Funding Group tailors a financing program specifically suited to the business needs of its clients. We swiftly implement and successfully provide accounts receivable financing, with an ability to fund within 5-7 business days. top
Platinum Funding Group understands the cycle constraints that companies are confronted with, which is why we offer bridge financing options to support our clients during this time. Through accounts receivable factoring, we facilitate bridge funding and provide working capital on a short-term basis to bridge the gap between the purchase of assets and the sale of goods, avoiding any interruption in the production-sale sequence. top
This unique way of financing, in conjunction with our factoring services/accounts receivable financing, will give you the ability to purchase finished goods without using letters of credit. Purchase order financing and invoice factoring are extremely valuable during a company’s growth and expansion when cash flow reserves become insufficient. Through accounts receivable agreements, Platinum Funding Group agrees to finance the cost of your goods directly to your supplier, thus increasing your liquidity and freeing up cash critical for business expenses.
Platinum Funding Group, a factoring company, will create and orchestrate tri-party factoring agreements between your supplier of the finished goods, your company, and Platinum, wherein we mutually consent that once the goods are shipped and accepted by your customer, we will advance the amount owed by you directly to your supplier. This service allows your supplier to rely on Platinum's performance and our accounts receivable agreement as a guarantee. This service and procedure, including invoice factoring, is extremely valuable for clients who are short on cash, enabling them to pay their suppliers without the burden of costly letters of credit. top
As an established factoring company, Platinum recognizes the great importance of securing a government contract and the specific nature of your operation when these large contracts exhaust all your operating capital. As a government contractor, your business can benefit tremendously from the factoring services offered by Platinum Funding Group. Sales to your federal, state and municipal governments and their agencies are all eligible for invoice factoring. When reaching the decision to accelerate cash flow through accounts receivable financing, you gain access to unlimited working capital through the creditworthiness of the United States Government. Operating as factoring company, Platinum will provide accounts receivable factoring services on all government receivables, thereby eliminating cash flow shortages in weekly payroll and fixed overhead, ultimately giving you the opportunity to win bids on large government contracts.
Platinum Funding Group associates have the knowledge and extensive background in handling the accounts receivable turnover of government invoices and providing efficient accounts receivable management. Our team of experienced professionals is familiar with the Assignment of Claims and the Federal Acquisition Regulation (FAR), the Federal laws regulating procedures for assigning financial rights to invoices of government contractors. Once you provide detailed information about your accounts receivables, Platinum Funding Group makes an immediate decision to fund your government receivables handling your entire invoice factoring so that your business can prosper.top
Platinum Funding Group delivers the essential funding through accounts receivable financing needed to give companies or investors the opportunity to acquire their target companies. The additional capital we provide as an invoice factoring firm enables businesses to increase their productive assets, to cover operating expenses, to take advantage of trade discounts and bulk purchases, to restructure debt, to control seasonal cash flow fluctuations, to increase profit margins through greater sales volume and to enhance overall corporate growth.
Platinum does not require owners to relinquish equity or give up business control. Unlike bank borrowing, Platinum's commercial finance programs and factoring services allow businesses to obtain cash without necessarily having to pledge personal collateral. Factoring companies provide financing and liquidity without assuming additional debt and without necessitating forced cutbacks that might adversely affect growth and long-term goals.top
Early-stage, high-growth companies with limited capital can enormously benefit from our factoring services. We recognize the challenges associated with attaining capital and the financial support required for a young and ambitiously growing business. As an experienced and trusted factoring company, Platinum understands the struggle that exists for small companies to manage both internal cash flow shortages and fluctuations in receiving customer payments. For companies growing at an exponential rate, it is of utmost importance to be able to access funds immediately, with minimal requirements. Invoice factoring becomes a valuable and profitable tool during this aggressive growth.
With accounts receivable factoring, Platinum Funding Group turns your receivables into cash so your business can continue to flourish and attain new levels. We can also provide additional support through purchase order financing with your suppliers when you present us with a purchase order from a creditworthy customer. top
