Since time is a significant variable in factoring, it is important to know how quickly you can expect to get money from a factor.
Initial Funding Turnaround
Initial funding turnaround can take anywhere from three business days to two weeks. The speed of initial turnaround depends on how the factor performs due diligence and the systems in place to accelerate verification of accounts receivable and invoices.
Realizing the importance of quick initial turnaround, Hamilton does everything within its means to expedite the initial set up. Hamilton's initial funding turnaround typically takes 3 to 5 business days depending on the speed with which required documentation is submitted by the client.
Once a client is set up with a factor, turnaround for subsequent factoring typically ranges between 24 and 48 hours. Factoring invoices of new customers can sometimes take longer.
Funding turnaround at Hamilton normally takes 24 hours or less depending on the money transfer method.