Commission
Advance
Frequently Asked Questions:
Is this a type of loan ?
No! Cash flow funding is not
a loan. There is no debt repayment, no compromise
to your balance sheet, no long term agreements
or delays associated with other methods of raising
capital.
Why would I use Real Factor?
In the real estate industry there
is usually around a six week time frame from when
a sale is made and the point at which payment
is received for that sale. The lag in time from
the sale to payment can and often is crippling
for a business, particularly in the contracting
market. Real factor allows you to get your hands
on commission you know is coming – NOW!
Can a salesperson / contractor
use the service?
Yes. All the salesperson /contractor
needs to do is get a letter from the Principal
authorizing the transaction.
How quickly do I get paid?
Real Factor pays within 4 hours
of receipt of the necessary paperwork.
Can we get a cash advance
against the agency’s rent roll?
Yes, we can fund up to 100% of
the agency’s monthly property management
income fees.
Wouldn’t a bank loan
make more sense?
Banks often have restrictive
lending requirements relating to cash flow, profatibility,
equity and years in the business, which prohibit
them from making the loans. Real factor is not
in the lending business. The decision to fund
your cash flow has nothing to do with your performance,
years in the business or financial strength.
How are the fees determined?
Real Factor will discount the
commission you are owed based upon the number
of days to settlement. The fees are calculated
at an affordable rate per day and there is no
upfront cash required from you.
How much can you advance
me?
Real Factor can advance you up
to 100% of the commission you are owed less any
fees.
What happens if the property
fails to settle?
The commission can be electronically
transfered to a nominated bank account or a cheque
issued if you prefer.
What will my Vendors think?
They won’t know. Your
transaction is completely confidential and you
account to them upon settlement as you normally
would.
When do I repay the advance?
At settlement you account to
us for the commission, similar to how you would
account to yourselves at settlement for the commission
you are owed.
Can I repay the advance
early?
Yes.
Do I need
a good credit rating?
No.
What can we use the money
for?
Real Factor do not provide consumer
loans or credit. Advances are made on the basis
that you intend using the funds predominantly
for business purposes.
How do I get started?
|
