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WHY AR FINANCING HOW IT WORKS Eligible Invoices GLOSSARY FAQ GETTING STARTED
Examples of Industries Currently Served:
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Commercial
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Temporary Staffing Agencies |
Contractors
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Installation |
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Auto parts distributors Freight and Trucking Manufacturers Machine Shops Maintenance
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Nursing Accounting / Bookkeeping Janitorial Service Companies |
Appraisers Architects Carpenters Electrical Contractors Excavators Asphalt / Paving Underground Utilities |
Cable Companies Utility Contractors Satellite Installers |
Why Finance your Accounts Receivable?
You've just landed that big sale.
Your current customers are requesting larger orders or faster shipments.
However, your suppliers or commercial bank are not yet ready to extend your credit much further.
What do you do? You are certain the expansion will generate the profits and cash flow but you need cash.
Your company’s ability to turn those receivables quickly into cash that can mean the difference between success and failure.
While waiting
30 to 60 days to collect on these sales, your have has to pay your suppliers, employees, and other operating expenses, creating a large strain on
your retained cash. If cash inflow can’t keep up with cash outflow, your business might find
itself struggling to stay afloat despite consistent sales. Even if customers pay
bills on time according to the terms, the cash flow may not be consistent
enough, and just a few non-paying customers can create a financial disaster.
Accounts receivable financing, or factoring, ensures that accounts receivable
won’t become a liability.
By selling your company’s accounts
receivable, it provides your business with immediate cash and saves your
valuable time spent tracking collections. Growth and success depend on turning accounts receivable into cash received, and
there’s no better way to do that than through AR Funding.
Steps to Financing your Accounts Receivable:
1. You fill out a simple application and pick which clients you would like to factor, send in the additional information listed on your proposal.
2. Once your account is established, you send your invoices along with your corresponding backup.
3. Your dedicated account executive reviews and verifies the information your company has submitted.
4. Funds are advanced to your business within 24 hours via wire, ACH or check after verification.
5. Your customers send their payment to a dedicated PO Box. The customer's check clears, we deduct our fees and refund you the remaining balance.
Eligible Invoices: generally defined as follows. Exceptions may be negotiated on a case to case basis:
Less than 90 days from the invoice date
Due from a US based business customer that, in our judgment, is credit worthy up to the credit limit. Your business customers must be credit approved prior to consideration for eligibility. Bank and trade references may be required for those business customers lacking satisfactory credit histories.
Invoice resulting from a) the shipment and delivery of a product or b) the completion of a service and not subject to counter claim or offset.
Invoice payment terms of Net 60 days or less
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