Our factoring program provides comprehensive accounts receivable management. In addition to converting invoices into working capital, you’ll receive auditing, crediting, and collections services.
With factoring, we can quickly obtain commercial credit ratings, easing your business decisions based on a potential customer’s credit rating and how much risk you are willing to absorb if you are to enter into a business agreement.
It’s also worth noting that companies who are interested in doing business with you may also check your commercial credit rating to assess their risk.
INDUSTRIES WE SERVE INCLUDE:
Accounts can be set up in as little as a few days dependent upon the business information provided.
Once an invoice is submitted, funds will be sent in as little as 24 hours.
The beauty of Kompass Funding is that we don’t only offer one service. If you are interested in accounts payable funding and management, we also offer our Kompass Accelerate program.
You will be able to track all invoices and payments through Kompass Funding’s client portal.
If you are currently working with another factor, we can pay off outstanding invoices and transfer all incoming invoices to Kompass Funding.
Fees are based on a 15-30 day pay cycle, however, pricing can be customized to your situation.
For recourse funding, the credit risk of the customer stays with the client, whereas for non-recourse funding, Kompass Funding incurs the risk.
Kompass Kapital Funding helps to strengthen startup companies by increasing their working capital.
A startup company specializing in 5G underground boring, a method of installing underground utilities including pipes, conduits or cables, was winning numerous new projects and were in high demand; however, they struggled to come up with the capital to purchase new equipment and hire additional employees, two necessary components in order to continue to scale their business. As a startup that opened its doors in early 2022, the company did not attempt to seek out traditional funding such as a bank loan.
As the build-out of 5G implementation continues, recent research indicates that carrier-generated cash flow problems might be 5G’s most significant obstacle to overcome. “One-third of 225 vetted wireless contractors that have taken a confidential survey to date said that they could only handle $150,000 in receivables before they were in a cash flow vise,” according to an article in Wireless Estimator. Companies are often forced to float cash from project to project due to long payment and approval processes by larger wireless companies. This is a challenge for many small businesses, especially with climbing costs and an increased number of new projects.
The startup was referred to Kompass Funding by a colleague who inquired about our invoice funding (factoring) program. We were able to convert outstanding invoices to immediate funds and working capital. Since the partnership began, Kompass Funding has funded nearly $2,000,000 over the last 4 months; access to new capital has allowed them to take on more projects, purchase new equipment, and feel confident when it comes to their payroll. “The business relationship we are building is great for both parties involved,” the company’s CEO shared. “I truly appreciate the time and effort Ben has put in to help us out. They also have great response times – if I have a question or concern, both Ben and Will respond immediately to help resolve things or find answers for me.”
Is your company struggling with cash flow and available capital? If so, Factoring from Kompass Funding could be the solution you’re looking for.