When it comes to getting the cash your business needs to cover your day to day expenses, expand your operation or to cover a large order, there are several options. The benefits of accounts receivable financing are that it’s quick, it doesn’t require a lengthy application and underwriting process, and is very flexible. There are no repayment obligations, so future cash flows remain intact and you can get your money in days rather than weeks.
Why Financing Receivables Can Help Your Business
Businesses across all industries can benefit from financing receivables. Having the ability to raise fast cash without having to qualify for a loan as well as being able to forego future payments are the main reasons why financing receivable can help your business. However, they aren’t the only ones. Receivables financing allows your business to offload liabilities from their balance sheets and improve the financial position of their companies. This allows them to transition from break-even mode to growth mode.
This process allows you to offer payment terms to your customers that may extend past 10 days, but you still get paid immediately. When you factor receivables there is no repayment that needs to be made and no debt is created. It is really a win-win situation for you and your customers. Here’s a list to sum up the benefits:
- Fast application and approval process, get cash in under a week
- You can offer extended payment terms to your customers without cash flow taking a hit
- Financing method grows as your company grows
- No payments and no debt
If your business could benefit from financing receivables, we can help you get on the path to fast financing. Our factoring specialists will determine the lowest rate possible for your company based on your clients and their payment schedule. We can get the capital you need to stay on track today.