What is Accounts Receivable Factoring?
What if, instead of waiting 30, 60 or 90 days for your client to pay, you could issue an invoice and receive cash in 24 hours? How would freeing up cash flow impact your business?
Accounts receivable financing frees up cash to let you:
- grow your business
- remain flexible and competitive in a changing market
- purchase supplies and inventory
- pay bills
- make payroll
Benefits of factoring:
- Easier to obtain than a bank loan or line of credit
- Quick turnaround of cash—usually within 24 hours
- Your client's credit rating determines eligibility—not yours
- Saves you time and headaches checking credit ratings and chasing receivables
- You focus your time growing your business, instead of worrying about cash flow
- Available cash grows with your sales
Simply, Accounts Receivable Factoring is selling your accounts receivable invoices to a third party at a discount in exchange for immediate cash. Accutrac Capital will pay you up to 90% of the invoice amount within 24 hours of you delivering your produce or service. The balance, minus a small fee for our service, is paid to you once we receive payment from your customer.
Low rates for fast cash:
Accutrac offers the lowest factoring rates in the industry. Typically, our rates range from as low as prime plus 5% annually to prime plus 7% annually, depending on the types of factoring chosen. In addition we will charge a small processing fee ranging from 0.5% to 1.5% of the invoice amount.
Not getting the respect you deserve from your bank?
Applying for a business loan can be a long, painful and often frustrating process. Factoring isn’t a business loan. It’s not based on your credit rating or the assets your business holds. You won’t be asked to risk your personal assets as collateral.
Instead, factoring is based on one simple premise…you doing business with credit-worthy customers.
Knowledgeable Accounts Manager
Accutrac’s friendly and knowledgeable account managers walk you through the process. Our experts understand your business and industry…we know how to speak your language. We’ll advise you about the best factoring product for your needs. And, we take over the arduous job of checking credit scores and collecting receivables. It’s quick, painless and professional.
with cash flow and management solutions.