How do I sign up?
What happens after I apply?
Do we change the way we currently send invoices?
How do I submit invoice information?
Do I submit invoice information at the same time that I send the invoice to my customer?
Who uses FastCash?
How are the invoices verified?
Are you a recourse factoring company?
In a non-recourse transaction, what happens if the customer doesn't pay?
What happens if the customer doesn't pay?
I'm concerned about the relationship with my customer being jeopardized by a third party. What are the collection calls like?
Will my customer think I’m in financial trouble if I use a factor?
What is Aquent Financial Services?
You can sign up for FastCash online or by talking to a FastCash representative.
Signing up for FastCash is easy:
When we receive your completed receivables financing application, a member of our accounts receivable factoring team will call to acknowledge receipt. We can give you a good indication as to whether we can accept you as a FastCash invoice funding customer within one hour. We then work to verify the information you’ve provided us—typically a one-day process. If your application is accepted, the account manager will welcome you to FastCash receivables financing, review our procedures, and discuss your preferences for invoice submission and customer contact. We can begin factoring receivables for you the next day.
No.
In order to receive an advance on your invoices, you submit your invoice information to us. It's easy and it takes less than a minute to do!
Simply log on to our member page (your account manager will give you a user name and password when you enroll in FastCash). Click on "Submit Invoices," choose your customer from the list of customers, and submit payment terms, invoice number, and other pertinent information. Click "Submit," then "Accept Terms," and you're done!
We recommend that you submit the invoice information to us on the same day that your customer will have the invoice in hand. It is more difficult to verify the invoice or pay you until your customer has the invoice. This is why we recommend e-mailing or faxing your customer the invoice as part of your normal invoicing procedure.
We can help companies with annual revenues between $400,000 and $100 million. The average invoice dollar amount of your business should be over $2,000.
We accept many different types of businesses and industries, including, but not limited to, professional services firms, recruiting and staffing companies, information technology firms, small manufacturers, wholesalers, and distributors.
When you submit your invoice online, we verify it by calling your customer to confirm that the amount is correct and the invoice is payable. Our accounts receivable factoring staff represents itself as your payment processing service, not as a collections or factoring company. We work closely with you to verify invoices in the way that's most convenient for you and your customers.
Over 85 percent of our accounts receivable factoring transactions are non-recourse; that is, there is no requirement to pay back your advance after a specific time period. Recourse is available, though, on those transactions that may otherwise be refused for reasons of customers’ credit, rate, or lack of payment history.
For a non-recourse accounts receivable factoring transaction, if a customer does not pay an invoice because of financial circumstances (foreclosure, bankruptcy, etc.), then we will assume responsibility for the debt collection. If a customer doesn't pay an invoice because of a dispute—for instance, a claim of incomplete or unsatisfactory work, miscalculation of rates, or noncompliance of contract terms—then we offer you a reasonable amount of time (usually 14 days) to resolve it. If the dispute is not cleared up within that time period, then your company assumes responsibility for collection of the debt, and must reimburse Aquent Financial Services for money already paid for that particular invoice, plus accrued fees. Reimbursement can be made with payment by check, or it may be paid from the rebates due to you from your recently paid invoices.
Aquent Financial Services is dedicated to maintaining and ultimately improving the relationship you've established with your customers. Any calls to your customer are made by a courteous staff of trained customer service professionals. We design our calls to sound like they are from a billing service rather than from a collection service. Many customers feel that, because they no longer have to call their customers to ask for money, their relationship with their customers has improved as a result of using FastCash accounts receivable financing. Some of our clients expressed that FastCash makes them look like a more established business to their customers.
By having your business reviewed by financial services professionals and accepted as a factoring company, your client can be assured that you are financially sound and that you have the financing to support their orders. Being accepted as a FastCash client gives your company a seal of approval by a financial services firm with strong financial backing.
Aquent Financial Services is a leading financier for small businesses. FastCash accounts receivable financing, our signature service, was started in 1999 to help small businesses manage their cash flow and improve their business. We offer accounts receivable factoring to various kinds of small businesses, including professional services firms, manufacturers, distributors, and wholesalers. Aquent Financial Services is a separate division of Aquent, a professional services firm specializing in IT and creative solutions. Aquent was established in 1986, and has over 70 offices in 17 countries.