You did the work in March. The fleet pays in May.
Liftbay Capital factors shop receivables with facilities from $10,000 to $5,000,000, advancing up to 90% of an approved invoice within 24 hours. There is no minimum credit score, because the credit decision is about the customer who owes you — a fleet operator, a dealership, a municipality, a warranty administrator — not about you. A facility opens in 3 to 5 business days.
What are the criteria?
Invoice factoring — criteria
- Facility size
- $10,000 – $5,000,000
- Advance rate
- Up to 90% of the approved invoice face value
- Speed
- 3 – 5 business days to open a facility; 24 hours per invoice once open
- Minimum credit score
- None — the obligor’s credit is what’s underwritten
- Minimum time in business
- 3 months
- Minimum receivables
- $20,000 in open, invoiced B2B receivables
- Invoice age accepted
- Current through 90 days
- Recourse
- Recourse and non-recourse facilities both available
- Documents
- Application, A/R aging report, sample invoices, customer list, 3 months of business bank statements
- Not eligible
- Consumer retail tickets, card and cash sales, most insurance claim payments, unbilled work in progress
- Underwritten
- In-house by Liftbay Capital
Who is invoice factoring actually for?
Factoring is a B2B product, so it does not apply to a shop collecting at the counter. It applies to the side of the trade that sends invoices and waits.
- Fleet maintenance shops billing delivery fleets, utilities, rental companies and municipalities on net-30 or net-45.
- Diesel and truck repair carrying carrier and owner-operator accounts that pay on terms.
- Sublet and wholesale work for dealerships — transmission, alignment, glass, PDR, detailing and reconditioning billed to the dealer.
- Extended-warranty and service-contract claims billed to a warranty administrator rather than the driver.
- Collision shops with commercial accounts — fleet body work and municipal vehicles invoiced to the organisation, not the insurer.
- Towing and recovery operators billing motor clubs, municipalities and police rotations.
If you’re a retail shop and you got here looking for cash flow, the product you want is working capital or a line of credit. Card and cash tickets and most insurer or DRP payments cannot be factored.
How does invoice factoring work, step by step?
- Do the work and invoice your customer. The fleet unit leaves the bay, the month’s sublet work closes, the warranty claim is approved. You bill as you always have, on your terms.
- Upload the invoice. Once the facility is open, you submit invoices as you raise them. There is no re-application per invoice.
- Up to 90% is advanced within 24 hours. The advance lands in your operating account against the approved face value of the invoice.
- Your customer pays, and you get the reserve less the fee. The remaining balance is released when the obligor settles.
A facility opens in 3 to 5 business days. After that, each invoice funds in 24 hours. Many shops run a factoring facility alongside working capital — they are complementary, not competing.
What does it cost to factor a fleet invoice?
A fleet maintenance shop invoices a regional delivery fleet $60,000 for a month of service on net-45 terms. We advance 90% within 24 hours of invoice approval, and release the rest, less the fee, when the fleet pays.
Illustrative only. Your actual amount, cost and term are set by underwriting your file. Nothing on this page is an offer.
Representative invoice — $60,000 on net-45
- Invoice
- $60,000
- Advance (90%), within 24 hours
- $54,000
- Fee
- 2.5% per 30 days — illustrative
- Fee at 45 days
- $2,250
- Released when the fleet pays
- $3,750 ($6,000 reserve less the fee)
- Status
- An illustration, not an offer
What a shop needs to qualify.
Every number below is a real criterion. If you clear these, apply. If you don’t, call us and we’ll tell you what would change it.
| Minimum monthly revenue | $15,000 in business bank deposits |
|---|---|
| Minimum time in business | 6 months |
| Minimum credit score | None for working capital or factoring. 600+ for a line of credit. 650+ for a term loan. 680+ for SBA. |
| Funding range | $10,000 to $2,000,000 for working capital. Up to $5,000,000 for term loans, SBA, and factoring facilities. |
| Time to a real offer | About 4 business hours on a complete file. |
| Time to funding | 24 hours. Same day if a clean file is signed before 11:00 AM ET. |
| Documents required | Application plus your 3 most recent months of business bank statements. 4 months if your shop is seasonal. |
| Contract length | 2 pages. |
| Repayment | Fixed daily or weekly ACH from your operating account. No split of your card sales. No holdback percentage. No lockbox. |
| Prepayment discount | Up to 30% off the remaining cost of funding when a working capital advance is paid off within the first 30, 60, or 90 days. |
| Insurance & fleet checks | Counted. Insurer and DRP payments, fleet-account checks, warranty reimbursements and cash all count as deposits. We underwrite the bank statement, not the card terminal. |
| Shop-management software | None required. Whatever you write estimates and invoices on makes no difference to underwriting. |
| Shop types approved | Independent general repair, collision and body, tire and wheel, quick lube, transmission, diesel and truck, European and import specialists, auto glass, detailing and wraps, mobile mechanics, fleet maintenance, performance and restoration shops, franchise service centers, independent used-car dealers and buy-here-pay-here lots. |
| Not required | Collateral for working capital. A business plan. Tax returns under $500,000. A particular parts supplier or DRP agreement. A minimum number of bays or lots. |
| Open to | U.S. businesses with a U.S. business bank account. All 50 states. |
Four minutes. Three bank statements. No credit impact to apply.
Factoring questions, answered.
Does my fleet customer know I am factoring?
On a notification facility, yes — they remit to a lockbox in your name. Non-notification facilities exist for larger accounts; ask when you apply and we will tell you which structure your receivables support.
What if the fleet or dealer doesn’t pay?
On a recourse facility, the invoice comes back to you and you repay the advance or substitute another invoice. On a non-recourse facility, Liftbay Capital carries the credit risk of the obligor’s insolvency, which is priced accordingly. Both structures are available.
Can a shop factor its insurance claims?
Usually not as factoring. A claim payment owed to you by a carrier is not a standard commercial invoice, and most carrier and DRP payments do not fit a factoring facility. The product that bridges insurance timing is working capital or a line of credit. Fleet, dealer, municipal and warranty-company invoices on net terms are what factoring is for.
Can a shop factor its card sales?
No. Card and cash retail tickets are not receivables and cannot be factored. Monetising future card and cash volume is a working capital advance, which is a different product with different criteria.
Is there a minimum volume to open a facility?
$20,000 in open, invoiced B2B receivables and 3 months in business. Facilities run from $10,000 up to $5,000,000, so a single shop with two fleet accounts can open one.
How is factoring priced?
As a discount off the invoice face value, held back in the reserve and released when your customer pays. Pricing depends on the obligor’s credit, the invoice ageing, and whether the facility is recourse or non-recourse. Your facility agreement states the full schedule before you sign — see disclosures.
What does it cost to factor a $60,000 fleet invoice?
On a $60,000 fleet maintenance invoice on net-45, we advance $54,000 (90%) within 24 hours. At an illustrative 2.5% per 30 days, the fee for 45 days is $2,250, and the remaining $3,750 is released when the fleet pays. Your rate is set by your customer’s credit and your volume; this is an illustration, not an offer.
Your invoices are good. The timing isn’t.
Facilities $10,000 to $5,000,000, up to 90% advanced within 24 hours of invoice approval, no minimum credit score. A facility opens in 3 to 5 business days.