Factoring is non-bank financing in which a business sells its accounts receivable (i.e., invoices) to a third party (called a factor) at a discount – typically 2 to 5 percent. The factor pays 80 to 90 percent of the face value immediately and forwards the remainder (less the discount) when the customer pays. Factoring is a financial service, sometimes referred to as accounts receivable financing or invoice financing.
Mazon Associates Terms and Services:
- You choose the invoices you want to factor
- We fund your invoices the same day you send them to us*
- We prepare and send the invoices to your customers
- We call your customers who are 30+ days past due
- We don’t have a monthly minimum
- We don’t charge an application fee
- We don’t require a long-term contract
- We assist you with credit decisions
- We check the credit-worthiness of your customers
- We offer free consultation when you need it
* Invoices received before 10:00 AM (email or fax)
- Daily invoice collections
- Reserve reports with aging
- Month-end receivables aging reports
- Month-end reserve reports
You Get the Cash You Need When You Need It
Mazon Associates is a financial services company. We provide you with immediate cash flow using accounts receivable financing, also known as factoring:
- You open a factoring account with Mazon Associates.
- You send Mazon your invoices.
- Mazon sends cash to you upon approving your invoices. Invoice approval and funding usually takes place on the same day.
- Mazon forwards the invoices to your customers and collects the cash.