ASSET BASED LOANS
Whether you’re a growing start-up or a thriving business, cash flow challenges can constrain your operations and cause sleepless nights in the process—even when sales and accounts receivable are booming. And often times, traditional lenders may not be inclined to see your existing accounts receivable for what they really are—assets possessing cash value.
Asset-based facilities consist of revolving lines of credit and term loans backed by and secured by accounts receivables, inventory, machinery and equipment, real estate, marketable securities and other assets.
What
is Accounts Receivable Financing?
Accounts receivable
financing is the selling of outstanding invoices or receivables at a
discount to a finance or factoring company that assumes the risk on the
receivables and provides quick cash to your business. The amount of value
assigned to the account depends on the age of a receivable. A more current
invoice will pay more. Any accounts receivable over 90 days typically are
not financed.
Accounts receivable financing is also known as accounts receivable
factoring or accounts receivable funding.
Requirements:
* Accounts Receivable
Aging (most recent detailed aging)
* Accounts Payable Aging (most recent detailed aging)
* Your most recently available financial statements.
* Inventory Summary - applicable if you are requesting an inventory
loan
* Customer list with address and phone number information
* Sample of recent customer invoices with corresponding purchase
order,
shipping documentation, etc.
* Real Estate or Equipment appraisals, if applicable
* Any other company information such as product brochures, business
plan,
financial projections, etc.
* Diversified and credit-worthy customers.
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