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Frequently Asked Questions

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What is Government invoice factoring?
Government Invoice Factoring is a quick and simple way for Government Contractors, both Prime and Sub, to receive immediate funding by selling their invoices to a factor company.
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How does Finlo Factoring Work?
After you perform work as normal, submit your invoice. While many government contracts include delayed payment terms of 30 to 90 days, Finlo will pay up to 90% of the invoice amount immediately. After Finlo collects the invoice payment directly from the Government (or Prime), we pay out the remaining invoice balance to you, minus a small fee.
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Who's eligible for Finlo Factoring?
Any business that serves the Government (either as a Prime or Sub) is eligible for Invoice Factoring. It's as easy as that! There are no cumbersome credit checks or lengthy application processes.
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Why should we factor our invoices?
The biggest hurdle to starting and operating a small business is dealing with delayed cash flow from outstanding invoice receivables, which makes it difficult to pay employees or cover expenses. Loans have a lengthy application process and attaining approval is tough for a new company that has no history of revenue. Factoring is the perfect solution to both of these problems.
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What makes Finlo different?
As previous small business owners supporting the Government, we uniquely understand the cash flow challenges that new companies face due to delayed payments from customers. As a boutique company, we are completely invested in your company's success and will work with you on a case-by-case basis to come up with a personalized strategy that works.
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Is factoring the same as a loan or line of credit?
No. Factoring uses your invoice as collateral, and allows for your business to get paid out immediately. As long as the invoice is paid by your customer as expected, there is no repayment on your part, and you take on no debt or liability. Even if you get denied for a bank loan, you can utilize Finlo factoring.
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How quickly will I receive funds?
A one-time initial company setup is usually accomplished within 3-5 days. Once established, you will receive funds within 24 hours of submitting a qualified invoice.
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What are the invoice amount limits?
For each invoice, the limit to the amount factored is $750,000. If you have larger invoices, please feel free to contact us and we will work with your individual situation.
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Are there multiple fees?
No, our fee structure is simple and easy. Some factoring companies have complex fee structures. We only have one fee that is based on a weekly factoring rate.