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SL Business Capital Corporation |
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Accounts Receivable Factoring |
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Factoring is Faster, Easier and More Advantageous than a Bank Loan
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The downside of a bank loan application is that it’s slow, tedious and uncertain. Banks often will not consider the cash flow needs of small and medium sized businesses. Moreover, banks make credit decisions based on your company’s creditworthiness, financials, cash flow, collateral, profitability, capitalization, size, business plan and years in business. A bank loan is actually a debt that must be repaid and shown on the balance sheet. In contrast SLBC makes approval easy and fast for smaller growing companies to open a factoring account to meet cash flow needs. Most companies get approved for factoring because the decision is not based on your company’s credit standing or years in business, but instead approval is based on the creditworthiness of your customers. This makes sense when you recognize that factoring is not a loan but rather a purchase by the factor of your accounts receivable owed to you by your business customers. |
Turn Your Invoices Into Immediate cash Flow Today
Start-ups, high growth industries, seasonal companies, under-capitalized companies with a strong customer base, turnarounds and companies lacking capital use factoring as the expeditious way to turn invoices into fast cash.
Factoring companies make finance decisions very quickly and approve small and medium size companies based almost solely on the creditworthiness of an applicant’s commercial customers. Your credit worthiness and all of the considerations so important to a bank are not part of the factoring company’s decision to provide fast and continuous cash flow for your business. The bottom line is that if your customers are creditworthy (the factor makes that determination) and your receivables are valid, you should be all set to open a factoring account and receive immediate working capital.