How much will factoring cost me?
It depends on how fast you want to be paid. The discount factor typically ranges from 3% to 10%
FAQ & Rules
How and when are payments made?
The following rules are used when determining when payments are made and what appraisals are included in each payment:
- Payments are made on Monday and Thursday only.
- Payments are scheduled exactly 30 days after an appraisal is completed. If 30 days after completion is not a Monday or Thursday, days are added until the payment date lands on a Monday or Thursday.
- For Example: If 30 days from completion is a Friday-Sunday, payment happens on the following Monday. If 30 days from completion is Tuesday-Wednesday, payment happens on the following Thursday.
- Early pay dates are calculated based on the number of potential payment dates (Monday or Thursday) early the payment occurs, up to a maximum of 6, which equates to 21 days early.
- Desired early pay date must be at least 48 hours in the future, otherwise it is ineligible for selection.
What is Factoring?
What is “factoring”? In a nutshell, it means you get paid on the date of your choosing, in exchange for a discount factor.
For example, let’s say you have a $100 invoice, and you want to be paid in a week instead of the usual 30 days. We’ll pay you your $100 a week later in exchange for a small fee, say, 5%, so you’d get $95 tomorrow instead of $100 in three weeks.
Frequently asked questions
What if I submit multiple payments on the same date?
For payments that you schedule for the same date, you’ll receive one combined payment.
What service do you use to pay by ACH?
We use Bill.com for all ACH and check payments.
Are Flex-Fee payments recourse or non-recourse?
Flex-Fee payments are non-recourse meaning the factor/finance company takes the credit risk to collect the appraisal fee not the vendor (you the Appraiser). Once you, the appraiser are paid you no longer are responsible for the collection of the invoice.
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