Factoring - How Our Alternative Financing Solutions Work
Nationwide Capital Funding, Inc. offers straightforward, alternative financing solutions to help your company access funds.
The diagram below shows the basics of our transparent process.
Access the business funding you need by partnering with us today!
Nationwide Capital Funding Inc.
Corpus Christi, Texas, Est. 1998
At Nationwide, our goal is to create a convenient factoring service that adds benefit, not hassle to your company. You have enough to worry about.
When you complete the job and invoice your customer as usual, submit the invoices you would like to fund, and Nationwide takes it from there. We will review and confirm your invoices, fund your advance, monitor your invoices, perform any needed collections, and process the payments from your customer.
In addition to our dedicated, easy-to-get-hold-of account management team, we also use top of the line factoring software that offers you an excellent online portal experience to stay connected with your account anytime, anywhere.
Our online portal provides real-time information, reports, payment images, collection notes, and status of your overall account as well as the individual invoices. Any activity on your account is available to you at the push of a button. It’s important to us that we provide our clients with not only excellent service and communication but also access to accurate, transparent reporting.
No, there are no application fees.
It typically takes between 3-5 business days for the initial underwriting and funding process. After that, on average, we fund within 24 hours of invoice receipt. In most cases, we fund same-day.
Below is an overview of Nationwide’s process from beginning to end:
Receive completed application and AR aging for initial review
Provide Proposal and Complete Underwriting
Our operations team will set up the new payment address and verify the invoices with your customer
You’ll receive the advance within 1 hour of verification
We will monitor the invoices and manage collections so you can concentrate on growing your business.
Your customer pays us and we return the rebate (amount not advanced less the factoring fees) to you.
Many types of businesses can benefit from factoring. At Nationwide, we specialize in service companies such as Welding, Roustabout, Trucking, Telecommunications , Rig Moves, and Oilfield Construction just to name a few but also welcome other Service industries such as staffing, manufacturing, construction, and more.
Yes! In fact, many start-up companies use factoring to generate the cash flow needed to establish and grow their business.
Invoice factoring service is a great fit for many companies. If your company meets the following criteria, Nationwide may be the perfect partner to meet your financial needs. However, this list may not cover all circumstances so please feel free to call us at 800-411-4229 for a FREE evaluation!
- Provides goods or services to commercial customers
Is free of tax liens (or has a payment plan in place)
Has unpaid receivables that are not pledged elsewhere
Invoices customer upon completion of work or delivery of goods
Can provide supporting documentation for the invoices (i.e. - approval signatures, field tickets, water/disposal tickets, BoL’s, etc.)
Serves customers that have net terms ranging between 15-90 days, good communication and/or online systems, and good commercial credit
Has average monthly sales of $10K to $5MM
Is looking to work with a factoring team that cares about you, your customers, and your business!
Don’t sweat! Although we do review personal credit, one of the great things about factoring is that we rely most heavily on the credit-worthiness of your customers. If you work for quality companies that have good commercial credit, it’s unlikely your personal credit will affect our ability to fund.
Throughout the relationship, Nationwide may reach out to your customer to update the payment address on file, submit or verify invoices, and manage collections. With Nationwide taking on some of the invoice management duties, you’ll have more time to focus on building your company. With that in mind, we also understand how important your customer relationship is to your business so it is always a top priority for our team that any communication with your customer is courteous and professional.
No, you choose which accounts to factor. With no monthly minimums, you can factor as much or as little as you need on approved accounts.
No. We believe, whether you plan to factor them or not, it’s in everyone’s best interest for our clients to have good credit information available to them when making the decision to do business with a new customer. Therefore we will run free credit checks on any and all of your current or future clients/prospects.
We’re happy to help you review your current financing arrangement. If a buyout is appropriate, Nationwide will work with your current finance company as well as your customers to ensure the smoothest transition possible for you.
Absolutely! In fact, we’d love to visit with you in person, whether you are an existing or a potential customer. Located in Corpus Christi, Texas, we are easily accessible to all of our customers with our office on HWY 37.
- Incur ZERO debt
Pay bills on-time
Help reduce bank charges
Enhances rapid turnover of your accounts receivables
Quickens the transition toward traditional bank financing
- Young businesses that haven't been in business long enough for traditional LOC
Companies growing at rates that exceed bank risk portfolios
Companies with a high concentration of one or two clients
Companies that used to qualify for bank financing, but are now going through a business challenge