How Accounts Receivable Financing Can Help Your Business
Your receivables hold the key to fast funding. When you get a sudden influx of sales or seasonal demand increases, you need access to that funding to keep your business moving forward. And that’s where Array Financial’s accounts receivable financing can help.
The Basics of Financing Receivables
As you know, your receivables are current assets. That means they can be quickly converted into cash. But you typically wait 30 to 90 days for customers to remit payment on their invoices. When you can’t wait that long, receivables financing can be an ideal solution. You sell those unpaid invoices at a discount to get cash within 24 hours. After we purchase those invoices, we collect payments when they’re due. Upon approval, you enjoy several other benefits:
- No-cost credit insurance on eligible accounts
- No fixed payments needed
- No personal guarantees or recourse necessary
Receivables financing also grows with you — that is, you can access more funding as your sales grow. You also can use the funds as you wish: inventory, supplies, payroll, operational expenses, bulk discounts or anything else your business needs.
Contact Our Specialists Now
Ready to move your business forward with Array Financial’s accounts receivable financing? We offer this powerful funding tool plus many others that help small companies reach their goals. Contact us to speak with our commercial finance specialists.