How is your business supposed to grow when it takes so long to collect accounts receivable? What do you do when you need quick access to working capital, but don't want to take on more debt and dilute your equity?
Cash flow is a common problem for many companies - both large and small. If you're in business-to-business sales or service and if any of the situations below sound like your company, Working Capital Finance may be the solution to many of your cash flow challenges:
- Your growth potential is limited by slow turnaround on accounts receivable.
- Your cash flow does not match your sales.
- You have excessive overhead for credit checks, credit approvals and accounts receivable management.
- You are experiencing a period of rapid growth.
- You have seasonal sales variations.
- You are generating great business sales, but haven't yet turned the corner from operating losses to net profit.
- Your cash constraints force you to pass up profitable opportunities.
Working Capital Finance combines credit and collections of accounts receivable and provides your business with immediate cash flow.
Working Capital Finance is offered by First Citizens Bank, an affiliate of IronStone Bank.
- Immediate Cash Flow: Sell your accounts receivable for cash as soon as an invoice for goods and services is created, verified and accepted by the debtor. You get improved cash flow through same day funding.
- Reserves: Remaining reserves are paid on collected balances on the 15th and last day of the month (or weekly by request).
- Non-recourse: The purchaser assumes the responsibility of collecting the debts.
- Competitive Advanced Rates: The initial advance of funds to you is between 70% and 90% of the invoice amount.
- Costs: Charges are only incurred if you use Working Capital Finance. There are no hidden fees, no monthly minimum requirements and no lengthy contracts.
- Flexibility: You decide how often you need to use Working Capital Finance. You also choose which customers to include and the amount of time you wish to take advantage of Working Capital Finance.
