Triumph FAQs

Read our most frequently asked questions.



  • When a company needs to optimize cash flow, it can sell its outstanding invoices at a small discount to a factoring company. The factoring company then collects the debt.

  • Large companies increasingly stretch invoice payment from 30 days to 90 days or longer. This puts small operations in a bind because their employee salaries, vendor payments, and taxes are due whether the customer pays or not.

    The solution for many companies is factoring. Sell your accounts receivable at a discount and get paid immediately. You get the cash flow you need to meet current operating costs without incurring debt.

  • Factoring takes the billing and collecting off your shoulders. Many of our clients find it relieves stress. It can also improve relationships with customers by taking payment matters out of your interactions. Factoring can allow you to pay vendors more quickly and take advantage of their discount offers, saving you money.

  • It isn’t. Invoice factoring goes by several names – accounts receivable financing, AR factoring and invoice financing. No matter what you call it, the process is the same: you sell your invoices at a small discount to a factoring company and get immediate cash for your business.

  • Yes, very different. Factoring is immediate payment for invoices with a small percentage retained by the factoring company. The money is already yours. It just hasn’t been received from your customers.

    • It’s faster. Loan processing can take weeks or longer. You might as well wait for the customer to pay you.
    • It’s easier. You decide which invoices to factor and when.
    • It’s more flexible. You aren’t locked into a long repayment period. Just factor invoices when you need extra cash flow.
    • You have more control. The cash you receive for invoices is unrestricted, you can use it however you want. Many business bank loans require the money to be used for specific purposes.
  • It depends on the type of factoring you select:

    • With non-recourse factoring, Triumph assumes all the risk of collecting the debt. That’s a lower risk option for small companies that can’t absorb the cost of unpaid invoices, but it does cost slightly more than recourse factoring.
    • Larger companies often use lower-cost recourse factoring. If the customer doesn’t pay the debt, then the seller is liable to repay the factoring company.
  • The fee is based on a variety of considerations in the application process. We take into consideration the credit risk associated with your customers, the time it takes them to pay their invoices, and the monthly funding volume we forecast for your business. Pricing options range from “flat” fees, to rates which vary with monthly factoring volume, to rates which combine lower factoring fees with charges based on the net funds employed. We have options for almost all client requirements.

  • Yes, they’re deductible as a business expense.

  • With your application, please send us your company’s current aging report, articles of incorporation or other organizational documents, and an example of your invoices.

  • Typically, we process your application within 24 hours, but we respond to you immediately. Once we process your application and verify the invoices, you can choose how you want to receive your money.

  • Probably. We’re here to help your business grow. We are more interested in your customers’ creditworthiness than your time in business. If they have a good record for paying you, that will work to your advantage in the approval process.

  • In order for us to factor your invoices, we need to have ownership rights. An arrangement can usually be worked out that will enable us to do our work.

  • Approval can usually be worked out depending on your arrangement with the government agency. It will be a case-by-case decision. We will do our best.

  • No. You have total control over which invoices you want to factor and when. However, once you decide to factor one of your accounts, we generally require you to factor all the invoices for that customer in order to reduce payment confusion.

  • Not at all! Invoice factoring is a recognized, established method for a company to optimize cash flow. Banks have tightened credit policies for small businesses and start-ups, so many use factoring instead. When a factoring company is willing to finance your invoices that means you’re a solid company and a good risk.

  • Certainly. Our team is professional and courteous at all times, because Triumph is a factoring company, not a debt collection agency. We’re your partner and would never do anything to harm your relationship with your customers.

  • Your relationships with your customers stay the same. All we do is take care of the invoicing and collecting of payments. Triumph has a decade of experience, and dedicated teams that work closely with you and your people.

  • We have a simple form referred to as a notice of assignment. It can be a very smooth transition for you and your customer.

  • Each invoice is stamped or notated with payment instructions.

  • Our online account management provides a full array of client reporting and real-time information. We can also accommodate any special reporting requirements. Our goal is to keep you totally informed on the status of your customers and accounts.

  • In its infancy, factoring got a bad name because a few companies were handling things in an unprofessional way. Some companies charged very high fees and used deceptive business practices. Things have changed a lot since then, and factoring is widely accepted as a funding method across many industries.

    Triumph is a respected industry leader and member of the International Factoring Association. We strictly adhere to the IFA’s code of ethics.

  • Invoice factoring is all we do. But what makes us unique is our vision, values and promise. Triumph’s vision is to be the most valuable company in the financial industry. Being valuable requires that we make long-term improvements in everything and everyone we touch. Triumph’s values are the roots of our company which drive our culture and actions. We promise to be an extraordinary partner for all seasons.

  • Once your application is complete, we can send you a quote in 5 business days.

  • The quickest and best way to submit a claim is through your insurance company’s claims department directly. An insurance company representative will take your claim’s information first hand and assign it to an adjuster. Toll free claim’s numbers can be found in your policy documents and on your ID card. If you cannot locate your insurance company’s claims number, please send us an email at [email protected] and request it.

  • Please send a request to [email protected].

  • Yes, we have several bilingual team members who are happy to help you.

  • Accounts receivable financing provides growth capital as borrowers can borrow immediately on sales.

  • Asset based lending solutions are used by companies that are experiencing rapid growth, high leverage, turnaround or bankruptcy, operating losses (pre-profit), minimal or deficit net worth, tax problems or a blemished credit history. Asset based loans can be earmarked for working capital, to fund a merger and acquisition, to address debt consolidation, and many other financial situations.

  • Asset based lending analyzes the quality and performance of the underlying collateral and then considers the borrower’s financial condition, ownership/management, and overall business circumstances. Traditional bank financing is based on anticipated cash flow and often requires more stringent financial requirements and loan covenants from the borrower.

  • At Triumph, we view every customer through a unique lens. While some institutions may turn you away because of a blemished past, we take an organic look at your business history, credit score and secured assets. Where others see risk, we see opportunity.

  • Triumph focuses on financing transportation, construction and environmental equipment.