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Description
FactorFox is an AI-driven operating system designed specifically for factoring, asset-based lending, and purchase order finance. It efficiently manages the entire funding cycle, encompassing processes such as onboarding clients and debtors, conducting credit assessments and underwriting, verifying invoices, and capturing data directly from client agreements and related documentation. Additionally, it oversees funding, releasing reserves, collections, cash applications, participations, and reporting. What sets it apart is its intelligent interface; rather than offering just another dashboard, it provides tailored briefings for each role, complete with the evidence supporting every decision. This ensures that credit teams, operations, and management have a clear view of exposure, covenant positions, and funding choices, all accompanied by relevant documentation. Continuous monitoring of risk and funding against bank covenants is a core feature, and approvals are seamlessly integrated into Microsoft Teams, where collaboration already occurs. FactorFox is versatile, supporting dual accounting integrations and catering to various sectors, including general factoring, transportation, freight brokerage, construction, medical industries, reverse factoring, and electronic factoring in LATAM. This comprehensive approach not only enhances operational efficiency but also drives informed decision-making across all levels of the organization.
Description
Fora Financial is a business financing company that provides multiple funding options for small and midsize businesses. Its products include revenue advances, lines of credit, SBA loans, business term loans, equipment financing, and small business loans. Revenue advances are repaid using a fixed percentage of daily or weekly gross receipts, allowing payments to adjust during lower-cash-flow periods. Lines of credit provide ongoing access to funds that businesses can draw as needed, with advertised limits ranging from $5,000 to $100,000. Term loans provide lump-sum financing with predictable payments, while equipment financing is intended for purchases, repairs, or leases of business equipment. Small business loans can provide working capital for expansion, cash flow management, and other operating expenses, with terms of up to 18 months and funding amounts of up to $1.5 million. Fora Financial states that completed applications can receive approval decisions in as little as four hours and funding as soon as 24 hours after an offer is accepted. Applications are reviewed using underwriting factors that may include business and personal credit, revenue consistency, cash flow, time in business, and industry-specific requirements. Fora Financial is intended for business owners that need flexible access to capital for growth, equipment, payroll, inventory, acquisitions, bridge financing, or general working capital.
API Access
Has API
API Access
Has API
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Integrations
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Integrations
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Pricing Details
No price information available.
Free Trial
Free Version
Pricing Details
No price information available.
Free Trial
Free Version
Deployment
Web-Based
On-Premises
iPhone App
iPad App
Android App
Windows
Mac
Linux
Chromebook
Deployment
Web-Based
On-Premises
iPhone App
iPad App
Android App
Windows
Mac
Linux
Chromebook
Customer Support
Business Hours
Live Rep (24/7)
Online Support
Customer Support
Business Hours
Live Rep (24/7)
Online Support
Types of Training
Training Docs
Webinars
Live Training (Online)
In Person
Types of Training
Training Docs
Webinars
Live Training (Online)
In Person
Vendor Details
Company Name
FactorFox Software LLC
Founded
2002
Country
United States
Website
www.factorfox.com
Vendor Details
Company Name
Fora Financial
Founded
2008
Country
United States
Website
www.forafinancial.com