How Does Accounts Receivable/Invoice
Our team of funding specialists can process an accounts receivable funding application within 3 to 5 days of receiving the required information. To be ready when speaking with our funding specialists, gather the following information before you call:
- Bank Statements: We require 3 to 6 months of business bank statements.
- Accounts Receivables/Debtors: We require the balance of the accounts receivables over the past 3 to 6 months.
- Bank Account Balances: Did you know lenders look to ensure balances remain positive each month? Where your business account statements have multiple negative months and multiple days of non-sufficient funds, this will discourage lenders from approving an accounts receivables loan. It is very advantageous to have bank statements with positive balances over a 6 to 12 month period to ensure your funding application is approved.
Call us today on 855.933.8638 or email us at [email protected] for a FREE consultation to discuss your accounts receivables loan application.
Why does my business need Accounts Receivable
All small businesses endure cash flow shortages from either slow–paying creditors or unexpected payments. Accounts receivable loans have the advantage of easing these business cash flow burdens.
Businesses in services sectors often face long lead times between delivering those services and receiving payment. Accountants and construction businesses often have large outstanding invoices waiting to be paid. That hurts — especially since wages and payroll expenses, including medical insurance, are required to be paid. Similarly, manufacturers often have accounts receivables that can be outstanding for as long as 6 months. Raw materials and parts must be paid on delivery, while invoices to wholesalers and distributors remain outstanding.
Such cash flow gaps create uncertainty for many businesses. Our accounts receivable loans provide an ideal solution to avoid interruptions caused when you’re waiting anxiously for payment.