Accounts Receivable Financing in Atlanta, GA
Business Loans for Atlanta, GA Businesses: Private Lender
One of the best ways of securing short-term funding to keep your business running in Atlanta, GA, is through accounts receivable funding. Unlike any loan you might get from a traditional lending institution, invoice factoring does not involve borrowing money – your company will simply be paid a specific amount of money up-front, for as many of your customer invoices as you would like to sell. Corporate Funding of Atlanta, GA, is a financing company which can provide this AR Financing service, among others, to assist area small businessmen meet the demands of daily expenses, payroll, inventory procurement, and other requirements. The SCORE chapter of Atlanta, GA, is a good source for recommending particularly helpful financing companies like Corporate Funding to those businessmen wishing to find a reputable and reliable partner for capital funding.
Benefits of Accounts Receivable Factoring in Atlanta, GA
There are a number of benefits provided to a small or medium-sized business which might want to consider accounts receivable factoring, most of which could not be supplied by any traditional lender.
- an accounts receivable factoring loan can be approved much more quickly than any bank could arrange for, often within days
- cash flow gaps can be filled promptly, because capital can be secured without waiting for a loan approval that might take months
- your small business credit history need not be perfect – approval is weighted far more heavily on the credit-worthiness of your customers
- you need not maintain a large collections staff, since the factoring company will be collecting from customers
- company personnel can focus on business-specific tasks, rather than on collection calls and letters
- you do not take out a loan with accounts receivable factoring which has to be repaid over a long period of time
- you can choose to sell as many or as few invoices as you wish, to cover whatever cash flow shortfall you may be experiencing
- you can use accounts receivable funding to sell additional invoices each month if you choose to, for regular incoming revenue
How Accounts Receivable Funding Works
While your customers are usually given between 60 and 90 days to pay on an invoice, that doesn’t help your business when you need immediate cash to cover daily operating expenses, and you just can’t predict when those invoices will actually be paid. To help remove some of that uncertainty and fill in any gaps caused by slow-paying customers, Corporate Funding of Atlanta, GA can purchase some of your accounts receivable invoices at a percentage of their face value, with a fixed percentage held out until invoice payments have been received. Your company would get immediate cash to manage business expenses, and it would then become the responsibility of Corporate Funding to collect invoice amounts from your customers. When those invoices are paid, we would then remit to your company the remainder which was originally held out, minus our fee for providing the service. You get the cash needed to conduct business effectively, without any of the hassle of invoice collections.
To learn more or to contact an Accounts Receivable specialist in our office, please use our contact form or call 404-890-8500.