solution designed for your business needs.
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Factoring will provide your business with a fast, reliable, and cost-effective cash flow solution that will solve your cash flow challenges.
What is Factoring?
Factoring is when a business pledges or sells its accounts receivable (invoices) at a discount (factors fee) in exchange for a cash advance so that the business owner may realize the liquidity required to meet critical short-term obligations.
What is the Factoring Process?
Simply present your B2B or B2G invoices to KORE and we will verify whether your customers are creditworthy and your invoices are moving through your customer’s normal accounts payable process.
KORE will then advance between 80% to 90% against the invoices you have presented.
In 30 to 60 days when your customer pays, they will pay to KORE’s lockbox. Upon receipt of payment, KORE will deduct the amount previously advanced, deduct the fees and forward the balance to the customer’s account. The borrower may elect to repeat this process to ensure unlimited and reliable working capital.
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Line of Credit
You may pledge a pool of assets to include accounts receivable and inventory to support the advances that will serve as the fuel required to take your business to new heights.