Factoring at Green Bank
Green Bank’s factoring team provides customized accounts receivable purchasing programs to meet your company’s cash flow needs. As a dedicated team, we work independently with your company—you don’t need to have deposit accounts with the bank to use our services.
Factoring is a well established form of improving cash flow. Think of it as getting paid now on the money your business will receive in the next 30, 60 or 90 days from your outstanding invoices. Green Bank will purchase your eligible invoices and then work directly with your clients on payment.
It is a normal principle for some industries and useful option for all sorts of businesses. Green Bank has made the process straightforward and simple. Green Bank is happy to work with your company whether you need is as small as $200,000 or as large as $5 million. Our program helps you manage your cash flow so that you can manage your business.
We also understand that each company is unique. Term, structure, rates and fees can be customized to meet your company’s specific needs. Because we are a Texas-based team, we‘re accessible and will take the time to meet and understand your requirements. We are able to respond when you need us—usually one or two business days from letter of intent to funding.
Benefits of Factoring
Invoice factoring services from Green Bank is a readily available, and mailing unrestrictive, source of funding for businesses selling goods or services to their customers on open account.
- Invoice factoring provides uninterrupted service for your clients and debtors
- Invoice factoring is a lifeline for new or small businesses who are not approved for traditional bank financing
- Factoring eliminates cash flow problems
The Approval Process is Efficient
- Invoices cannot offer payment terms greater than 90 days
- Green Bank will issue a letter of intent within 24 hours after receiving a completed package
- Once letter of intent is signed, Green Bank will underwrite the transaction within one or two days
- No restrictions on distributions, dividends, etc.
- No personal assets pledged as collateral
- No depository relationship required
- Green Bank undertakes credit review and collection services at no additional charge