Are you running a small business that has just run out of money? If yes, then Accounts Receivable Financing or Factoring is the option that can save you.
You might have banking in your mind to finance your needs; however, we would tell you later why it is a bitter decision than factoring.
As for now, let us introduce you to the one and only company who can help you in meeting any type of monetary needs.
The Advanced Funding Group
This PA-based company was set up in 2005 with a sole reason of financing needy businesses. With the help of experienced lenders, Advanced Funding Group has funded millions of dollar transactions in just 10 years.
With having affiliates nationally and internationally, this company has accompliashed major feats.
Having introduced you to the company, let us tell you why it is a better choice.
The Financing Methods
Advanced Funding Group offers financing in three principal modes to facilitate you.
1) Accounts Receivable Financing
You must have a lot of capital stuck in the receivables or invoices. This type of financing is the key to release all of that money through this factoring company.
If you are worried about the time it takes for the approval, then you must know that in only 2 days or a week, the job is done without any hassle.
2) Asset Based Lending
This type of lending is broader. It a loan which the company pays considering the wealth of your company including your inventory, accounts receivables and any equipment.
3) Purchase Order Financing
Providing from 70% up to 100% of the cost of goods that are sold in advance. This type of financing is suitable for resellers, importers or any wholesaler.
4) Freight Bill Factoring
Freight Bill Factoring is basically for truck companies. It enables the owners to pay for fuels, maintenance and insurance as well as payrolls without the risk of running into a debt.
The factoring services provided by this company involves billing our invoices based upon the types said above. By allowing you a direct access to 70% or 90% of the invoice amount, your cash needs are met in no time.
As for the reserves, they are reimbursed minus the Factor Fee (1.59% to 6%) after the receivables are collected.
Factoring being this easy is better than banking and there is a good case for it. So, you might ask:
Why Factoring, Not Banking?
The simple answer is that banking can lend you money with interest rates as much as 12%/year while accounts receivable financing through Advanced Funding Group funds you through purchasing your invoices.
Also, the bank provides money only on the day you receive money while in factoring the money is continuous and according to your needs.
There’s a lot more to financing your accounts receivables than just this. If you have decided to seek the help of a factoring company, then Advanced Funding Group is your true professional financing destination.