Versant provides full-notification, non-recourse factoring to a broad range of companies across the US. We purchase a company’s accounts receivable invoices, notify our clients’ customers to pay us directly, and assume the credit risk for non-payment. We work directly with companies seeking financing and a network of financial brokers, accountants and lawyers.
Our typical transaction ranges from $1MM to $100MM in receivables on an annual basis.
There is no cap on the size of our Non-Recourse Factoring Facilities. The size of the facility is based upon the amount and credit quality of the Accounts Receivable. Versant’s Non-Recourse Factoring Facility grows with the company without the need to go through additional approvals of a credit committee.
Versant is active in most industries where companies sell a product or service and their customers have good credit. We do not fund in the medical, trucking or construction industries.
In evaluating a company, we look closely at the credit worthiness of our clients’ customers. As a factor, we are less concerned with the strengths and weaknesses of our client’s balance sheet. In fact, we consider companies with a negative net worth, companies that are losing money and even companies in Chapter 11 bankruptcy for factoring.
Companies with little or no credit history may qualify for factoring, provided they have credit-worthy customers. Again, our primary concern is the strength of the company’s accounts receivable and our ability to purchase the accounts receivable free of any bank liens. Thus, companies with a bank loan secured by its accounts receivable may not qualify for factoring unless the bank agrees to release its lien.
We Specialize In Difficult Deals:
We are able to help companies who, traditionally, have struggled to obtain financing.
- Negative Net Worth
- Balance Sheet Issues
- Debtor Concentrations – including single debtor
- Poor History/Credit Scores or Bankruptcy