Invoice Financing/ Account Receivable
No, you may take multiple advances even If you have an outstanding balance.
Most companies that have receivables can qualify.
You can choose whether to have the lender collect for you or you can continue to collect from your client. It is your choice.
It's quick and easy, just give us a call at 1-866-751-4999 and we can help get you started.
Once an account is established and your customers are approved, you receive cash within 24 hours of the invoice being received by the lender.
Most lenders will require the following:
- Credit Application
- Driver’s license of principal
- Client list with annual sales and full contact details
- Formal open receivable report
- Corporate documents I.E. certificate of incorporation or corporate resolution
- Copy of recent invoices
The selling of invoices to a lender company to improve cash flow and reduce bad debt. The company is able to benefit from a boost in cash flow and being able to eliminate the need to process invoices.
At our lenders, there are normally no minimum or maximum amounts. However, as a guideline, lenders do like to see a minimal of $25,000 per month in invoicing. Maximums are based on the credit value of your clients.
Term Loans
No, you may take multiple advances even If you have an outstanding balance.
It's quick and easy, just give us a call at 1-866-751-4999 and we can help get you started.
Even if you don’t have the best of credit, you are likely to qualify for one of our lender's cash advances. Cash advances are based on the cash flow of your business.
There are no restrictions on what you can use the funds for. You can fund a variety of business purposes including paying taxes, advertising, new equipment, and expansion. It’s your choice.
Cash advances are short-term loans and are sometimes referred to as hard money as the interest rates are higher than a traditional loan.
Most of our lenders require the following:
- Credit Application (see our application under Cash Advances)
- 6-8 months of the businesses bank statements
- Driver’s license of the principal
- Corporate documents I.E. certificate of incorporation or corporate resolution
Small Business Loans
It's quick and easy, just give us a call at 1-866-751-4999 and we can help get you started.
Any small business that needs funding to survive or expand but lacks the funds to do so could use a small business loan.
The repayment depends on the terms of the loans. Some are paid back daily via ACH while others are deducted on an agreed-upon cycle, usually weekly or monthly. Small business loans do not require your business to accept credit/debit cards.
A Small business loan is an advancement of funds with a fixed payback period of principal and an agreed-upon interest rate.
Most of our lenders require the following:
- Credit Application
- Driver’s license of the principal
- Corporate documents I.E. certificate of incorporation or corporate resolution
- 6-8 months bank statements
- 2 years of the financial and current year to date financials
All industries can qualify.
Banks are regulated by the federal government where lenders are not. Private lenders have more flexibility with lending, require less paperwork and the process is faster.
Purchase Order Financing
Yes. Separate payments or letters of credit can be presented to each supplier.
No, The lenders will pay the suppliers directly.
Banks lend money based on a borrower’s balance sheet, financial history, and cash flow. Purchase order financing is provided based on the profitability of a transaction.
Most lenders will require the following:
- Credit Application
- Driver’s license
- Client list with annual sales and full contact details
- Formal open receivable and payables report
- Corporate documents I.E. certificate of incorporation or corporate resolution
- Copy of recent invoices and purchase orders
Purchase order financing is used to pay your supplier cost. Normally clients are required to pay 20-30% to suppliers. Our lenders will provide payment to them or provide a letter of credit to meet these obligations. This provides businesses with the capital needed to fulfill large orders that exceed their current financial capabilities. Funding is then repaid with the proceeds from the sale after the goods are delivered to the client. PO lenders do prefer factoring to be in place.
Most of our lenders require the following:
- Credit Application (see our application under Cash Advances)
- 6-8 months of the businesses bank statements
- Driver’s license of the principal
- Corporate documents I.E. certificate of incorporation or corporate resolution
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