Our Approval Process


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Factoring – $25,000 – $500,000 – (3 to 6 Business Days from Execution of Proposal)

Sterling Commercial Credit Approval Process
  1. Complete On-Line or PDF Application
  2. Supply Supporting Source Documents:
    • Articles of Incorporation / Corporate Papers
    • Last Year Tax Return
    • Financial Statements – Last Closed Month-end
      • Interim Year to Year Comparison
    • Detailed Accounts Receivable Aging
      • Include Addresses on Top 10 Clients
    • Sales by Customer Last 2 years
    • Detailed Accounts Payable Vendor Aging
    • Bank Statements – Last six months
  3. CEO Introduction Call with New Business Team
  4. Formal Proposal Issuance
  5. Due Diligence Fee Collected / Execution of Proposal
  6. Submission of Invoices & Support Documents (Shippers, Time Cards, Approval Acknowledgement of Invoice)
  7. Production of Factoring Documents
  8. Customer Notification via email or certified mail by SCC New Business Team
  9. Invoice Verification by SCC New Business Team
  10. Return of Documents
  11. Cash Funding via Wire to Operating Account

Transportation $500,001 – $2,500,000 – (20 to 30 Business Days from Execution of Proposal)

Sterling Commercial Credit Approval Process
  1. Complete On-Line or PDF Application
  2. Supply Supporting Source Documents:
    • Articles of Incorporation / Corporate Papers
    • Last Year Tax Return
    • Financial Statements – Last Closed Month-end
      • Interim Year to Year Comparison
    • Detailed Accounts Receivable Aging
      • Include Addresses on Top 10 Clients
    • Sales by Customer Last 2 years
    • Detailed Accounts Payable Vendor Aging
    • Bank Statements – Last six months
  3. CEO Introduction Call with New Business Team
  4. Formal Proposal Issuance
  5. Due Diligence Fee Collected / Execution of Proposal
  6. On-site Collateral field Exam (2 to 5 business days)
  7. Complete M&E Appraisal or Inventory Appraisal (if applicable)
  8. Submission of Invoices & Support Documents (Shippers, Time Cards, Approval Acknowledgement of Invoice)
  9. Production of Factoring Documents
  10. Customer Notification via email or certified mail by SCC New Business Team
  11. Invoice Verification by SCC New Business Team
  12. Return of Documents
  13. Cash Funding via Wire to Operating Account

Line of Credit $500,001 – $2,500,000 – (20 to 30 Business Days from Execution of Proposal)

Sterling Commercial Credit Approval Process
  1. Complete On-Line or PDF Application
  2. Supply Supporting Source Documents:
    • Articles of Incorporation / Corporate Papers
    • Last Year Tax Return
    • Financial Statements – Last Closed Month-end
      • Interim Year to Year Comparison
    • Detailed Accounts Receivable Aging
      • Include Addresses on Top 10 Clients
    • Sales by Customer Last 2 years
    • Detailed Accounts Payable Vendor Aging
    • Bank Statements – Last six months
  3. Business Development Officer Visit (if applicable)
  4. CEO Introduction Call with New Business Team
  5. Formal Proposal Issuance
  6. Due Diligence Fee Collected / Execution of Proposal
  7. On-site Collateral field Exam (2 to 5 business days)
  8. Complete M&E Appraisal or Inventory Appraisal (if applicable)
  9. Submission of Invoices & Support Documents (Shippers, Time Cards, Approval Acknowledgement of Invoice)
  10. Production of Line of Credit Documents (SCC In-House Council)
  11. Customer Notification via email or certified mail by SCC New Business Team
  12. Invoice Verification by SCC New Business Team
  13. Return of Documents
  14. Cash Funding via Wire to Operating Account

Purchase Order Funding $50,001 – $500,000 – (5 to 10 Business Days from Execution of Proposal)

Purchase Order Funding
  1. Complete On-Line or PDF Application
  2. Supply Supporting Source Documents:
    • Articles of Incorporation / Corporate Papers
    • Last Year Tax Return
    • Financial Statements – Last Closed Month-end
      • Interim Year to Year Comparison
    • Detailed Accounts Receivable Aging
      • Include Addresses on Top 10 Clients
    • Sales by Customer Last 2 years
    • Detailed Accounts Payable Vendor Aging
    • Bank Statements – Last six months
  3. Business Development Officer Visit (if applicable)
  4. CEO Introduction Call with New Business Team
  5. Formal Proposal Issuance
  6. Due Diligence Fee Collected / Execution of Proposal
  7. On-site Collateral field Exam (2 to 5 business days)
  8. Submission of Purchase Orders & Support Documents (Vendor Bills, Flow Chart Transaction, Approval Acknowledgement of Notification)
  9. Production of Purchase Order Documents (SCC In-House Council)
  10. Customer Notification via email or certified mail by SCC New Business Team
  11. Return of Documents
  12. Cash Funding via Wire to Operating Account