Factoring
Factoring is similar to accounts receivable financing in that accounts receivable are used to secure advances of cash for funding operations. The customer (account debtor) is notified that the invoice(s) have been assigned to Bay Business Credit. We provide you with reports each day informing you of collections received and your account receives credit for the funds received that day. There is no obligation to assign invoices and no long term contract is required. We also can provide accounting support in the form of customer statements and agings of accounts receivable assigned.