Get Download Factoring Application Form - Ocfcom

Filling out the Download Factoring Application Form - Ocfcom online is a crucial step for businesses seeking factoring services. This guide provides a detailed breakdown of each section of the form, ensuring you complete it accurately and efficiently.

Follow the steps to complete the application form successfully.

1. Click ‘Get Form’ button to obtain the form and open it in your preferred online editor.
2. Begin by filling out the company profile section. Provide the full legal name of the business, contact information including phone and fax numbers, and the physical address. Indicate the date your business was established and specify the county. You also need to describe the line of business and select the business structure: Corporation, Partnership, LLC, or Individual. Fill in details about the number of employees, independent contractors, and any prior business names over the last five years, along with your email address.
3. Move on to the owners, officers, or LLC members section. Account for 100% ownership by entering the names, titles, home addresses, ownership percentages, and other personal details including social security numbers and dates of birth for each person listed. Additionally, indicate whether they own or rent their home.
4. In the financial information section, provide details about the business bank, including the bank's phone number and complete address. You will need to enter the account number, federal tax I.D. number, state tax I.D. number, and any outstanding taxes. Include details about any existing loans and their collateral.
5. Complete the personal references section by listing the nearest relative and another contact person with their home addresses.
6. Next, fill out the account information section. Provide your accounts receivable outstanding amount, average monthly sales, and average invoice amounts. Specify the approximate number of accounts and the amount you plan to factor monthly, along with terms of sale.
7. For transportation companies, include the necessary details such as MC number, US DOT number, and check applicable business categories. Include the number of drivers used, power units owned or leased, and fuel supplier name and address.
8. In the documentation section, collect all required documents to accompany your application, including organizational documents, licenses, and supporting identities.
9. Finally, review all entered information before signing the application. Ensure all fields are complete and accurate, then provide the required signatures and dates from all applicants.

Complete your application online today for a smoother, more efficient process.