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Account receivable financing, which is also known as Factoring, is an effective option for any business that requires sufficient cash availability as working capital that can not attain financing from traditional or conventional money lenders. Companies need extra cash flow in their business to meet growth, seasonal demands, business opportunities as well as cash requirement for short term need. Accounts receivable financing is an excellent solution for any business as it provides immediate and flexible cash. This not only opens avenues for the business to grow, but also helps in restructuring, hiring additional employees, taking advantage of supplier discounts and even funding payroll.
With the help of alternative financing options, you are in a better position to have access to cash without giving up company equities. Moreover, account receivable financing options are less expensive and restrictive compared to equity financing. This form of financing allows you to decrease or increase the financed amount based on your company's needs and the current size of your business. It also provides administrative support to help manage all the receivables without employing additional staff and allows you to have access to cash on request, but this is based on your account receivable eligibility criteria.
Various companies who offer this financing provide their clients with customer credit reviews for both existing and new customers, collection services, invoice processing, and customized reports. There are various benefits of accounts receivable financing: it is flexible, it can be increased when your business grows and it can be decreased accordingly; it allows the business to get back to conventional banking; it helps pay off business loans and make payroll; it helps to meet up seasonal demands; it gives you the power to reinvest in business and fund marketing to make your business grow; it helps you to focus on your company's core business; and it helps to take early discounts on payment purchase.
Accounts receivable financing saves time and allows you to generate new business and service your customers. Receivables management will help you to shorten the turnaround time of payments which not only ensures excellent cash flow but also minimizes interest expenses. Thus, accounts receivable financing will help your business grow and provide you with sufficient cash to meet expenses. Bernard Linney and his dedicated staff is ready to provide you with guaranteed solutions to help your business grow in 2011 and beyond.
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