Selling a portion of your receivables allows you to raise cash quickly and reduce operating risks.
*As permitted by applicable law.
Selling a portion of your receivables allows you to raise cash quickly and reduce risk. With Spartan Financial Partners, the process is simple. Our team will work one-on-one with you to provide a custom solution to meet your business needs in only three simple steps!
Step 1
Simply submit your data tape, including all the required documents via our secure online portal.
Step 2
Our team will verify and review all the required diligence documents.
Step 3
Submitting the required closing documents is the first part in our smooth closing process.
Create a Smooth Transition
In an effort to reduce recourse and improve the transition process, Spartan Financial Partners encourages you to contact account holders via letter or phone call.
Spartan Welcome Call
Customers will be informed their account has been purchased. We will answer questions about the transition and confirm customer contact information.
Spartan Welcome Packet
All new customers will receive a Welcome Packet that includes a Welcome Letter, Billing & Payment information, Debt Validation Letter, an ACH Autopay Form, and our Privacy Policy.
Below is a complete list of required data tape fields from your inventory. Please provide the following:
Contact us to learn more about our requirements for the diligence and closing processes.
Our transactions have a swift closing time and typically close in 7 to 10 business days.
The recourse period ranges from 31 days to 91 days with the most common recourse period being 61 days.
Spartan does not currently buy contracts secured by vehicles that have salvage/branded titles.
No. Spartan offers commercial lines of credit to dealers and finance companies through its Line of Credit as opposed to its Bulk Program.
The minimum portfolio size considered is $100,000.
We are usually able to offer a bid in less than 36 hours.
We send out welcome packets and make welcome calls. We can provide you (the dealer) with goodbye letters if desired. We work with Dealers and Finance Companies in all locations.
Spartan Financial Partners' Bulk Acquisition department works with dealerships that provide buy here pay here/in-house financing for customers.
Please call one of our Sales Representatives at (864)-256-2253 so they can walk you through the process!
