Accounts Receivable Financing Offers St. Louis Businesses A Faster Funding Option Than Traditional Bank Loans
Accounts receivable financing allows business owners to convert unpaid customer invoices into working capital, instead of waiting the 30 to 120 days for payments to arrive. By financing receivables – sometimes referred to as “factoring” – delivers the capital St. Louis business owners need faster than either collection agencies or bank loans. We offer our clients the fastest financing solutions, and our factoring services can benefit your business when cash is needed immediately.
Our Factoring Program Is Faster Than Customer Payments and Bank Loans
Our factoring program can deliver cash to local businesses within 24 hours, which is much faster and more efficient than waiting on customer payments and sending out friendly reminders. Financing receivables also takes much less time to arrange and implement (24-72 hours) than a conventional bank loans, which can take weeks or months to process, after approval.
For a quick comparison, consider the following:
- Bank loans have very restrictive requirements, which involves detailed credit and financial history checks
- Customer payments can take 30,60,90, or 120 days to arrive
- Accounts receivable financing involves a fast application and approval process that gets your business an influx of cash within days, instead of waiting for weeks and months.
- Instead of tracking payments over multiple accounts, revenue comes from one centralized source with factoring services
Approval for factoring services is fast because it does not require an in-depth examination of your business. The decision is based on the credit of the customers linked to the unpaid invoices. At Bayard Business Capital and Consulting, we can get you the funds you need very quickly, even if your business has little or no credit history.
Unlike bank loans, factoring services places no debt on the balance sheets. Our accounts receivable financing program deals with getting your business the cash it needs for open invoices, rather than locking your into a long-term agreement involving paying off interest and debt for years on end.
Bayard Business Capital and Consulting will purchase open invoices from St. Louis businesses at a slight discount and provide entrepreneurs with the cash they need within 24 hours. Contact us today to learn more about our accounts receivable financing program, and how quickly we can provide your business with the cash it needs to ensure success.