Pandemic Resource Center

Pandemic Resource Center

LAST UPDATED: 04/22/2020

We’re With You All The Way

TBS is proud to be your business partner. We are 52 years strong and here to support you for the long haul.

LAST UPDATED: April 22, 2020

We know that in these times of economic turmoil, there’s an alphabet soup of financial assistance programs out there, not only at the federal level, but also from states, local governments, and even traditional financial lenders. Your well-being is important to us, and while everyone’s situation is different and each relief package is unique, there are certain things you may need to be able to explain if a lender asks.

When you factor with TBS, you get your money up front. That’s your money, not a loan you have to pay back. TBS files a notice under the Uniform Commercial Code (UCC) as a secured party to protect our position on the receivables we purchase. Banks also file UCCs when making a loan, and check for UCCs from other lenders, to make sure they don’t accidentally accept collateral that has already been promised to someone else. When requesting financial assistance, you may be asked about the TBS UCC filing. Banks have hired a lot of new people to process financial relief applications and many of these people may not be familiar with how factoring works. Here’s what you can tell them to ease their minds:

“Yes, I have a factor and they have a UCC. They pay cash for my invoices — which is a good thing, from a borrowing perspective, because I get paid faster and my income does not depend on my ability to collect. My factor has told me that they will give you superior collateral rights on everything except accounts receivable. Their UCC will not impact your ability to secure against my income.”

TBS is here for you in this difficult time, and we want to make sure that you can take advantage of any assistance offering you need, we would be glad to talk to your lender if  they have any additional questions. Please feel free to have them call our Lender Hotline at 405-470-6180.

TBS is proud to do our part to support businesses like yours. In 2019 alone, we provided more than $1 billion in critical cash flow. We appreciate your business and the trust you place in us as a trusted financial resource. We look forward to helping you through the difficult days ahead and for years to come.


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TBS Factoring Service

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Oklahoma City, OK 73154

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