The Process of Factoring is: Complete the factoring application and submit with the required documents (A/R aging, sample invoices, Vendor Agreements & Purchase Orders) Receive a written proposal outlining the…
The Prime Rate is the interest rate that commercial banks charge their most credit-worthy customers, which are typically corporations. On December 21,2015 it was 3.5% in the US.
The Property, Plant, and Equipment (PP& E) is part of a company’s Balance Sheet representing long-term assets that are crucial for daily operation. PP& E includes a company’s property, machinery,…
The Principal and Interest (P&I) is combined which represents the total scheduled loan payment amount. Principal (P) is the amount of the original loan still owed to the financial institution…
Pre-Billing is submitting a request for payment before your product or services have been provided to your customer. If you are pre-billing this should be disclosed to the factoring company…
A Personal Guarantee is an agreement signifying an individual, organization or a company accepts responsibility for a 3rd party debt in the event the debtor fails to pay.
Peer Lending, or Peer-to-Peer (P2P) Lending, is a practice of lending to individuals or businesses money through online services that match the borrowers with lenders.
The Perishable Agricultural Commodities Act (PACA) protects businesses dealing in fresh and frozen fruits and vegetables by establishing and enforcing a code of fair business practices and by helping companies…