Getting a loan for a business has become exceedingly challenging as the Covid economy rolls on. Banks have become very cautious, as so many of their customers have experienced financial difficulty. Not only are fewer new loans being approved, many current bank customers are not having their loans renewed. Many businesses have experienced a loss in revenue during this crisis. Causing many companies to no longer meet their covenants with their banks.
In both of these situations many businesses still require financing to turn itself around and grow. If your business is non-bankable, you can still obtain the financing you need. There are alternative financing methods for you to get the cash flow you need to pay for operations and grow your company.
Invoice factoring, also known as accounts receivable financing, provides immediate cash for the business by selling your invoices. After filling out a short, on-line application, the invoice factoring company will approve your customers for funding. The factor will advance 85% to 90% of the invoices that you sell. When the customer pays the invoice, you get the remaining balance less a small fee.
Another valuable service invoice factoring offers is expert credit analysis of your customers. This economy has already caused many major corporations to file for bankruptcy and without careful credit monitoring many small business owners are exposing themselves to write offs when they can least afford it. For 42 years American Receivable has helped turn companies from un-bankable to bankable! Our experienced staff and founding managers provide the expertise needed to help get you thru these troubled times. To learn how we can help your business, call Jack Stieber or Brad Gurney at 972-404-4726 or call complete our quick application form.
