Selling Your ERC Refund Claim: Is it a Loan?
ERC FINANING- Do You Need a Second Opinion?
- Always good to get a “second opinion” when making major decisions from business associates, accountants, attorneys, business advisors, friends, family, crystal balls, or even fortune cookies
- Don’t get me wrong. I actually LOVE Chinese food, but never rely on fortune cookies for advice when making business decisions.
- “Second opinions” typically enable us to see things from a different perspective, help us in better understanding the facts, or provide another approach in identifying and evaluating our options.
- So when it comes to ERC financing; whether you’d made a decision to apply or not, whether you’ve received a funding proposal or approval from an ERC lender or not; there’s 3 things you want to look at BEFORE making a decision:
- Likelihood of approval
- rate and terms, and
- Timing.
“Factor” YOUR ERC REFUND CLAIM ?
The FACT is- ERC refund Claims CANNOT be “factored”. Here’s why. But first, let’s take 2 minutes to cover the basics of factoring for those who may not be familiar.
Invoice Factoring is a form of financing which enables a B2B business owner to get an advance against an approved invoice for goods and services sold to a customer, paid for on terms, ie net 30 days, net 60 days, etc.
Factoring advances typically range from 70% to 90% of the invoice face value and is deducted from the invoice payment once received from their customer, less the factoring fee.
Once the business has been approved, three things are required to get an advance against an invoice:
- Must have a “credit-worthy” customer.
- Invoice with payment terms submitted once goods or services have been provided
- Invoice payment is “assigned” whereby the customer agrees to send directly to the lender.
Selling Your ERC Refund Claim: Is it a Loan?
ERC FINANING- Do You Need a Second Opinion?
- Always good to get a “second opinion” when making major decisions from business associates, accountants, attorneys, business advisors, friends, family, crystal balls, or even fortune cookies
- Don’t get me wrong. I actually LOVE Chinese food, but never rely on fortune cookies for advice when making business decisions.
- “Second opinions” typically enable us to see things from a different perspective, help us in better understanding the facts, or provide another approach in identifying and evaluating our options.
- So when it comes to ERC financing; whether you’d made a decision to apply or not, whether you’ve received a funding proposal or approval from an ERC lender or not; there’s 3 things you want to look at BEFORE making a decision:
- Likelihood of approval
- rate and terms, and
- Timing.
“Factor” YOUR ERC REFUND CLAIM ?
The FACT is- ERC refund Claims CANNOT be “factored”. Here’s why. But first, let’s take 2 minutes to cover the basics of factoring for those who may not be familiar.
Invoice Factoring is a form of financing which enables a B2B business owner to get an advance against an approved invoice for goods and services sold to a customer, paid for on terms, ie net 30 days, net 60 days, etc.
Factoring advances typically range from 70% to 90% of the invoice face value and is deducted from the invoice payment once received from their customer, less the factoring fee.
Once the business has been approved, three things are required to get an advance against an invoice:
- Must have a “credit-worthy” customer.
- Invoice with payment terms submitted once goods or services have been provided
- Invoice payment is “assigned” whereby the customer agrees to send directly to the lender.
What We Offer
What We Offer
HOW IT WORKS
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HOW IT WORKS
Major Industries We Serve
Restaurant
Distribution
Service Business
Healthcare
Construction
Major Industries We Serve
Restaurant
Distribution
Service Business
Healthcare
Construction
About Us
The Watson Group
ERTC Funding Network
Gerald C. Watson
About Us
The Watson Group
ERTC Funding Network
Gerald C. Watson
Another Broker Fair 2023 panel announcement !
Are you just selling capital? Have you talked to your clients about other things they might want like payment processing? What about a tax credit like the ERTC? On this panel we delve into complementary products that you should consider adding into your pitch.
Get your tickets today at brokerfair.org
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