Corporate Lending Products

Turn your accounts receivable into immediate cash

You don't have to wait from 30 to 60 days until collecting payment from your customers for your sales of merchandise or services. Have you thought how much more business you could be doing if your invoices were paid promptly? Ocean Bank can purchase your accounts receivable the same day you deliver your merchandise, or provide your services, to your customers, and it can deposit the funds directly into your company's bank account. This process will provide you with the necessary funds to meet the current operating demands of your company and to expand your business in the near future.

A Factor for Success

Ocean Bank's Factoring Division offers factoring services to small and mid-sized companies. A company may not qualify for a traditional line of credit but still have valuable and good-quality accounts receivable. Our decision to purchase your accounts receivable is primarily based on their quality, not on other factors such as your limited working capital, leveraged balance sheets or previous losses.

Basic Requirements

Sales Volume: Minimum factored sales of $80,000 per month.

Gross Profit: 15% and higher.

Average Invoice: $350.00 and higher.

Credit Terms to Customers: Not to exceed 90 days.

Consider these advantages

• Reduced clerical function required to be involved in your billing process.

• Immediate conversion of accounts receivable into cash.

Fast Approval

If some of these advantages could help your business, please call our Factoring Division at (305) 569-5755, to receive more details.

Email Addresses:

Jaime H. Ortiz, AVP Factoring Credit Manager, jortiz@oceanbank.com