SETUP PROCESS 1. Complete our online application. 2. We will let you know what documents we need. Send them back as soon as possible. 3. Submit your invoices and sign our Notice Of Assignment. 4. Invoices are verified and your account is approved the same day. Funding arrives in your account within 24 hours.
ONGOING PROCESS: 1.You submit your daily invoices through our online portal. 2. Usually we are able to verify the invoice the same day. 3. You Get Paid Within 24 Hours.
Pete Wierzbicki Financial Services, Inc. (PWFSI) and Invoice Factoring
Fill out our one page application. After we receive your application, we send you our agreement along with a short list of supporting documents. You send us back the factoring agreement, with the supporting documents and we approve your account. Once your account has been approved you can begin submitting invoices for funding. You will be assigned your personal and friendly account representative and she/he will be your go to person. You will get an introduction call from your account representative, in which he/she will give you their contact information.
Send us Your Aging Invoices to Factor
Once your account has been setup, you simply start submitting the invoices that you want us to purchase to your account rep, via email or fax. Your account rep. will verify that the products have been delivered or that the services have been rendered. Once the verification has been confirmed, they will request the funding to be released to you. The funds will either be wired to your business account (the same day) or if you prefer, an overnight check can be mailed to you.
Credit Approval Process
Alliance One LLC, issues credit insurance on all of the invoices that we purchase. We are a non-recourse invoice factoring company. This means… If we purchase and fund you on an invoice and your customer becomes insolvent, we do not come back to you to recoup this money, the insurance company will pay us. Having insurance is a necessary process. Our credit insurance company will do a quick background through Dun and Bradstreet to check worthiness on your client. It is designed to protect the customer from incurring too much bad debt. Once approved a credit limit is set and the credit it updated on an ongoing basis. We protect you as much as possible from the threat of bad debt.
New Clients to Factor
When your company takes on a new client, you contact us with the company name, we pass this information to the insurance company and they issue us credit insurance on your new client. This is important to your company becasue you are the one that has to make a business decision to determine how much credit you wish to grant this new company. If we can only get insurance for $25,000, we can only purchase up to this amount in aging invoices.
Once you account is setup, we try to keep it really simple. In many cases, is you sell us an invoice today, we do our verification process on that day as well. Once the verification is completed, we fund you within 24 hours.
HOW INVOICE FACTORING WORKS
Step 1 COMPLETE YOUR APPLICATION
Step 2 A REPRESENTIVE WILL CONTACT YOU
Step 3 SEND THE INVOICES YOU WISH TO FACTOR Step 4 GET APPROVED & GET FUNDED!
