Factoring Company Issues

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Bobby12364

Member
Mar 3, 2016
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anyone having issues with factoring companies withholding releases? I'd rather not name the company in question.

I know receivables are slowing down right now, but I'm ready to take whatever is being factored away and bring it back to the left side of my balance sheet.
 
Withholding releases? Do you mean your factoring company isn't paying you for your invoices?
 
I think they can hold back if one of your invoices wasn't paid on time?
 
Unfortunately, based on extremely limited information I can not add anything to this thread so far.
Bobby12364, if you wish to PM with more details on the subject, perhaps I'd be able to give you some feedback.
 
Anyone having issues with Revolution Capital. They seem to have slowed down carrier payments.
 
Bobby12364 said:
anyone having issues with factoring companies withholding releases? I'd rather not name the company in question.

I know receivables are slowing down right now, but I'm ready to take whatever is being factored away and bring it back to the left side of my balance sheet.
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Hey Bobby, Do you mind if I ask who this is as I have been having difficulties with a factoring company myself. Does anyone know the legalities of whether the factoring company has to release funds daily or weekly etc?
 
I was speaking to a factoring company in Montreal yesterday. I was told that the staff are working from home. If that is the case, there could be short delays in buying new invoices.
 
H.Jordan said:
Hey Bobby, Do you mind if I ask who this is as I have been having difficulties with a factoring company myself. Does anyone know the legalities of whether the factoring company has to release funds daily or weekly etc?
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@H.Jordan factors service levels would have to be judged by commitments made in their contracts. I suspect most factors cannot guarantee funding within a certain delay because we first have to be sure all the information is provided (invoice, BoL, confirmation), that it is complete, clear and has no missing signatures - this is all beyond our control. I can also say that I receive confirmation of all fundings for my clients, and have not seen any noticeable delays. All same-day funding requests have been respected (sometimes within an hour of receiving the request).
 
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