What is Accounts Receivable Financing?
Accounts Receivable Financing is a method used by businesses to convert sales on credit terms for immediate cash flow. Financing accounts receivable has become the preferred financial tool in obtaining flexible working capital for businesses of all sizes. The receivable credit line is determined by the financial strength of the customer (Buyer), not the client (The seller of the receivables). This is great for business owners with troubled credit or lack of financials because the approval process does not focus on you but
rather the strength of your customers! Unlike applying for a loan or credit line, Accounts receivable Financing is a process which requires very little paperwork and is available for both new and established companies.
Accounts Receivable Financing is available in days, not weeks.
At NNR Capital Group, we make accounts receivable financing easy to obtain with minimal paperwork. Our decisions are not based on financials, tax returns or even equity to debt ratios. We make decisions primarily on the invoicing process and the credit strength of the account debtor (buyer). We specialize in evaluating and financing accounts receivable and can make a prompt decision. This financial solution involves very little underwriting. The approval process is simple and we can expedite initial funding the same day. Our clients can enjoy the benefits of our prompt service and begin to use their funds within days of completing an application.
Cash flow is always important to small and medium sized businesses:
What our business cash advance program does is give business owners access to cash that they can use now! We look at past sales history as an indication of a business owner's future success and then we work hard to help our clients obtain the maximum amount of funding possible.
YES, you do have Collateral!
If you are a business that sells to other businesses (B2B) on credit terms then you have a hidden asset that most owners do not realize can be used for collateral! This is a valuable asset which you can pledge as security in order to obtain immediate funds rather than waiting 30 to 60 days for your customer's payments! NNR Capital Group specializes in collateralizing and financing accounts receivable. The receivables are pledged as collateral and the business may draw cash against the eligible accounts receivable at any time. Accounts receivable financing, also known as factoring is not a loan, so there is no need to make payments or create debt to your business.
How Accounts Receivable Financing Works
After you invoice your customer for goods or services completed you then provide NNR Capital Group or our affiliates with a copy of the invoice and supporting documentation. Depending on the invoice specifics we may then advance up to 90% of the eligible invoice to you, often within 24 hours. Our professional and efficient invoice management team follows up to help ensure that your customer pays according to your invoice terms. Once your customer's payment has been received, the remaining 10% is released to you, less an administration fee.
This accounts receivable financing process will free up valuable time and allow you to do what you do best, service your customers and generate new business. Receivables management is proven to shorten payment turnaround time, which in turn, ensures better cash flow for your company and reduces interest expense.
Does My Business Qualify for Accounts Receivable Finance?
Every industry is evaluated differently because no industry invoices the same way. We strongly recommend that you contact us to speak with a friendly and knowledgeable specialist for a free consultation and evaluation.
Call us today for more information on Accounts Receivable or use our easy Application Form to apply now and one of our friendly specialists will get in touch with you within 24 hours or less!