With FINSYNC's Payments Plan, you have access to a network of Factors looking to help you improve your cash flow. With factoring, you can get a cash advance using an invoice that your customer will pay at some time in the future as the collateral.
Follow these steps to submit your payment request to your factor:
1) Create and send the invoice to your customer.
2) Return to the main payments screen and click the drop down next to "Request Payment" and choose "Collect." (You can dismiss the informational call out once you read it)
3) On the next screen, choose the invoices (payment requests) that you want to submit to your lender by checking the box in the far left column.
You'll see a table appear with a summary of how large of a cash advance you are requesting and the total of the collateral you are submitting (sum of your invoices).
4) You'll hit "Submit" to push your request over to your Factor electronically.
5) You'll then receive a notification by email from the Factor when they've had a chance to review your submission and can accept their offer.