American Receivable Corporation considers their relationships within the financial community to be one of its greatest assets. American Receivable’s relationships within the banking community and with professional CPA’s spans over 38 years These relationships have been mutually beneficial to us, bankers and CPAs as well as our factoring clients.
Business Loan Terminology 101
Whether you’ve got a proven track record, or you’re in the early stages of a new startup company, getting financing for your small business can be intimidating and a little confusing. Having a thorough understanding of business loan terminology can make the process a little less overwhelming. Here are some basic terms you need to understand when applying for business financing. Read More “Business Loan Terminology 101”
In today’s time, people cannot imagine running a business without the aid of technology. And the evolution of technology has changed the way we do business on a daily basis. Computers, software, apps, video, etc. have allowed companies to expand their businesses well beyond the borders of their home base. For factoring, it has created endless possibilities on how and where business can be done. Read More “Factoring Technology”
Invoice Factoring for Staffing Companies
American Receivable specializes in invoice factoring for staffing companies. When staffing agencies experience cash flow problems, they typically turn to one of two methods to help get them back on track; business loans and invoice factoring. In this article, we’ll go through the differences between the two to help you decide which is best for your staffing company’s needs. Read More “Invoice Factoring for Staffing Companies”
Business Financing – Let the Buyer Beware
Business financing is one of the most important decisions you, as a business owner will make. A business owner who has decided that factoring is the best solution for his or her business faces another challenge: Finding the best factoring company for their specific industry.
Online Business Financing
On-line lenders promise quick and easy money, while institutionally owned factors promise lower rates. These entities tend to leave out the important information regarding contractual obligations, funding minimums or maximums and fees.
Starup Tip – How to Pitch Investors
Knowing how to pitch investors is essential for any new startup business owner.
Pitching your startup business to potential investors can be stressful, to say the least. But in some cases, it’s absolutely necessary if you’re ever going to get your new business off the ground.
Once your business has been up and running for a while, you’ll have other options including bank loans, lines of credit and invoice factoring. But for many startups without a client base or other assets, investor funding is the only option. Read More “Startup Tip – How to Pitch to Investors”
Run a Tight Ship
We have all thrown out the compliment that a parent or teacher “runs a tight ship”. The origin of the phrase goes back to a time when running a tight ship could be the difference between life and death for the ship’s sailors – not just a messy room. Out at sea on a wooden ship, one loose line could bring disaster.
This is still true for today’s business owners. Entrepreneurs tend to be big picture people. In order to maximize profit, the entrepreneur has to make sure that they have a tight system in place from on-boarding a new customer to receiving and accounting for payments. It is imperative to make sure that they want to sell on open terms to this prospect. Read More “RUN A TIGHT SHIP”
Small Business: Staying Afloat During Tax Season and Beyond
Maintaining positive cash flow while running a business is critical.
Tax season is an extra busy time for small business owners. About 70% of small business owners outsource their tax preparation to a CPA or other trusted financial advisors. The business retains the responsibility for preparing records and financial statements. Read More “Small Business: Staying Afloat During Tax Season and Beyond”
Factoring, or accounts receivable financing is an alternative to traditional business loans. Businesses owners with cash flow challenges often turn to factoring to solve this problem. Factoring their invoices enables the owner to purchase inventory, make payroll and cover administrative costs while waiting for their customers to pay.
The factoring company buys the owners invoices funding a large percentage of the total invoice to the business within 24 hours. Upon payment of the invoice by the customer, the business receives the balance, called a reserve, less agreed upon fees. Read More “Recourse Factoring vs Non-Recourse Factoring”
5 Startup Tips for Entrepreneurs
Your first few years in business will likely feel like on-the-job training as you face a host of unexpected events. That being said, having the basics covered from the beginning will help you navigate the often turbulent waters every entrepreneur faces. Here are some tips to help make the sailing a little smoother.
Startup Tip 1: Don’t Let Excuses Stand in Your Way
You can likely come up with countless reasons not to start your own business. What if the economy tanks? What if demand for my product or service suddenly drops? What if I don’t have the knowledge and skills needed to make a go of it? The list goes on and on. Read More “5 Startup Tips for Entrepreneurs”