Accounts Receivable Financing
Our accounts receivable financing options offer invoice factoring solutions to startups and established companies as well as lines of credit on accounts receivables.
Benefits to factoring:
- Meet payroll regularly
- Non-recourse factoring (the factoring company assumes the risk for non-payment by any customer we are factoring for you)
- Factoring in the millions for your company's continued growth
- Facilities tailored to fit the client's funding needs
- Advances up to 97% (trucking)
- Advances up to 95% (freight brokers)
- Advances up to 95% (Staffing)
- Advances up to 95% (other industries)
- Complete online access to your account
- Perform free credit checks on your customers 24/7
- Invoicing and collections included
- Short-term or open-term facilities
- Competitive rates and flexible terms
- Fuel Card for savings at the pump and added convenience (trucking-transportation)
- Free load board to help carriers have full loads on each trip (trucking-transportation)
- Startups to well-seasoned businesses
- Simple application to the funding process
- Plus other features
Line of credit on accounts receivables (Ledgered line of credit):
A ledgered line of credit also known as a receivables line of credit offers many of the advantages of a traditional bank line except for the choking restrictions that can hinder a company's growth should a financial covenant is not met during a review of their latest financials or an audit. A ledgered line of credit has no such restrictions.
Ideal for companies that are considering a traditional line or are present with an asset-based lending or bank line and would like to get away from the strict requirements but maintain the features of a line of credit and competitive pricing. The line is flexible and secured with the company's accounts receivables. And unlike a traditional line of credit, there are no audits required or restrictive covenants concerning ratios, concentration, etc.
HERE ARE THE OBVIOUS ADVANTAGES
No audit requirements
No restrictive financial requirements
No restrictive covenants
No financial ratio requirements
No concentration restrictions
No long application to the funding process
Plus other benefits
Competitive pricing is similar to an ABL line structure, typically prime + %, plus a service fee. The service fee is charged monthly on the gross amount of invoices, interest is charged on the amount of funds drawn, thus controlling the cost of funding.
The process is simple, the company submits invoices, creates a pool or borrowing base, and then draws up to 80% or 95% depending on the advance rate. The client can draw funds, daily, weekly, bi-weekly, or monthly. Funding is based on the value of your receivables, providing constant capital based on sales.
Is your company refinancing, expanding, or restructuring? Please don't hesitate to contact us 24/7, we will get back to you as soon as possible.