Commission Advance

Frequently Asked Questions:

Is this a type of loan ?

No! Cash flow funding is not a loan. There is no debt repayment, no compromise to your balance sheet, no long term agreements or delays associated with other methods of raising capital.

Why would I use CommFact?

In the real estate industry there is usually around a six week time frame from when a sale is made and the point at which payment is received for that sale. The lag in time from the sale to payment can and often is crippling for a business, particularly in the contracting market. CommFact allows you to get your hands on commission you know is coming – NOW!

Can a salesperson / contractor use the service?

Yes. All the salesperson /contractor needs to do is get a letter from the Principal authorizing the transaction.

How quickly do I get paid?

CommFact pays within 4 hours of receipt of the necessary paperwork.

Can we get a cash advance against the agency’s rent roll?

Yes, we can fund up to 100% of the agency’s monthly property management income fees.

Wouldn’t a bank loan make more sense?

Banks often have restrictive lending requirements relating to cash flow, profatibility, equity and years in the business, which prohibit them from making the loans. CommFact is not in the lending business. The decision to fund your cash flow has nothing to do with your performance, years in the business or financial strength.

How are the fees determined?

CommFact will discount the commission you are owed based upon the number of days to settlement. The fees are calculated at an affordable rate per day and there is no upfront cash required from you.

How much can you advance me?

CommFact can advance you up to 100% of the commission you are owed less any fees.

What happens if the property fails to settle?

The commission can be electronically transfered to a nominated bank account or a cheque issued if you prefer.

What will my Vendors think?

They won’t know. Your transaction is completely confidential and you account to them upon settlement as you normally would.

When do I repay the advance?

At settlement you account to us for the commission, similar to how you would account to yourselves at settlement for the commission you are owed.

Can I repay the advance early?

Yes.

Do I need a good credit rating?

No.

What can we use the money for?

CommFact do not provide consumer loans or credit. Advances are made on the basis that you intend using the funds predominantly for business purposes.

How do I get started?