Would you like to learn more about account receivable financing or factoring especially
how you can get approved, well I'm about to reveal to you how you can use AR Financing
to give your customers weeks or even months to pay you, but yet you can get the majority of the
money right away I'm going to show you how to get approved for account receivable financing
even if you have bad credit even if you don't have any other kind of collateral even without
any kind of revenue verification I'm going to show you how to get approved for AR Financing
even as a startup business even if there's no other kind of financing that you're able
to get approved for I'm even going to show you how to use account receivables as an
asset to qualify for SBA loans and I'm going to sprinkle in along the way a lot of tips including
exactly what you need to do to get approved and if you stay to the end of this training
I'm going to get you access to our funding vault of 27 total ways you can get money for your business
these are the ways you can get money even if you can't get any other kind of financing
and this is also where you can find the financing with the best financing terms
we've got a lot of stuff to teach in this training so let's dive in and get started
Account Receivable Financing actually goes by many different names sometimes it's just called
factoring sometimes it's called AR financing or AR factoring sometimes it's called account
receivable factoring but it's all the exact same product and here's exactly how it works, with AR
financing you're letting a customer pay you over time typically weeks or months but the AR factor
or the lender will basically advance to you as much as 90% of those funds and as little as
24 hours, so let me give you an example how this works, a good friend of mine creates the plastic
mugs at places like Busch gardens you know the mugs you spend 10 15 20 dollars for that have
the logo of Busch gardens on it well what happens is when he gets a huge order from Busch Gardens
he gets the order he fulfills the order he creates all of these plastic mugs then he delivers the
order and then Busch Gardens has some time to pay him typically two three months to pay, so if you
look at this he gets a huge order for a product he has to get all the supplies use his machines use
his actual team to be able to actually fulfill the order then he has to wait sometimes months after
the orders delivered to actually get paid so this creates a cash flow crunch in a lot of businesses
because in order for you to let your customers pay you on terms you have to go sometimes
weeks or months without getting paid, not with AR financing, first of all AR financing is not any
kind of loan what you're actually doing is you're selling your future receivables at a discounted
rate, it's not even interest to charge it's called a discounted rate or a factor rate so what's nice
about AR financing oh there's so many things I think you're going to love, first of all, it's
super simple to get approved with, you do not need to have good credit as a matter of fact they don't
care anything about your personal credit you don't need to verify cash flow, no tax returns, no bank
statements, no revenue verification, and there's no other kind of collateral you even need to
get approved outside of having account receivables all they care about is the credit of the
companies that are paying you so what's going to happen is when you first get approved for AR
financing they're going to do a review of the people that are actually paying you on terms to make sure
like their business credit quality matches and adds up right, you don't want to actually have people
that are paying you on terms that have a history of not paying you so they're going to pull the
business credit reports from those customers that are paying you to make sure that they have a track
history of paying their bills as agree that's it as long as you're dealing with people that are
reputable and have a track history of paying you there's a good chance you can get approved
now almost all factors are going to want the receivables to come from the government
or another business so that means if you're a lawn care business and you take care of residential
homes you're typically not going to qualify for AR factoring, but if you're a lawn care business
that takes care of commercial properties if it's businesses that are paying you there's a good
chance you can get approved so after they do this initial assessment to make sure that the
companies that are paying you are reputable, then you can get approved, and from that point on
whenever you have more receivables you'll typically get funded in as little as 24 hours, now think about
this you're going to let your customers pay you over months time but get 90% of your money advanced
to you within as little as 24 hours, that's another huge benefit of AR financing is that
you're giving your customers way more time to pay you and because of that convenience you can
have a huge advantage over your competition and you make it much more appealing for customers to
want to do business with you because now they can pay you over weeks or months time but the benefit
to you is you can still get as much as 90% of that money advanced to you in as little as 24 hours
then once the customer pays the full invoice then the factor gives you the other 10%
minus whatever their fee is, now in this case factors will actually the lender will be the one
that collects the money from the customer for you so then again another huge benefit instead of you
chasing your customers for payments lenders that this is what they specialize in do it for you now
some of the biggest industries for AR financing are the medical industry or the construction
industry one of the biggest companies in the country that does this is Johnson and Johnson
think about how big they are so AR factoring you could typically get approved for up to 20 million
dollars in financing, so if you have 20 million dollars worth of receivables you could typically
get a proof for as much as that and if you have way less than that that's okay you'll still get
approved for that as well you can typically get approved as a newer business some factors want
you to be in business one year some don't even have that requirement and again no cash flow
verification, no credit verification, no other kind of collateral, that's needed all you need is a good
system of managing your AR there are even sources out there that use artificial intelligence to
plug into systems like Quickbooks to actually look at your AR financing that way without you even
needing to supply an AR aged report but a lot of other sources will want you to have an AR
aged report so as long as you're monitoring your account receivables there's a good chance you can
get approved, now the other whole really cool secret benefit here is that SBA loans require
collateral to get approved the number one kind of collateral that SBA uses to qualify for SBA
loans is account receivables so now you're getting your customers the ability to pay you over time
you get the majority of your money right away factor rates are super low one and a quarter
percent is the typical low bottom line of AR factors, some of them are higher but still
you're in a one or two percent range regardless of personal credit okay and on top of that you're
accumulating an asset that makes it easier for you to get approved for SBA loans this is a fantastic
way to get financing for your business because the qualifications are easy the rates are low
you make it convenient for more customers to want to pay you to attract more customers
you get the majority of your money right away and you tee up an asset that makes it easier for you
to qualify for SBA loans, this is the reason that account receivable financing is one of the most
popular forms in this country of getting money for your business and an option you definitely want
to look into to be able to start and grow your company make it easy for your customers to pay
and get the majority of your money right away, and now that you know the power of account
receivable financing you can start making it more convenient for your customers to pay you on terms
knowing that you can get the majority of your money right away like this kind of financing well
you can access 27 total ways to get money for your business using our funding vault that's
available at creditsuite.com/27ways that's creditsuite.com/ the number 27
the word ways and when you grab our funding vault you'll grab our guide that maps out 27 different
ways you can get money for your business even if you think you can't get approved if you have
credit issues your startup all these things that may prevent you from getting conventional
financing you're able to get financing using one of these 27 ways also feel free to give us
a call at 877-600-2487 for your free funding and business credit consultation on this consultation
we will do a funding assessment to help you fix all the things that are preventing you
from getting funding now we'll help you get your business credit reports at no cost $249 from the
credit bureaus but you'll get them for free on our consultation call and will also qualify you for
all legitimate types of funding you can get now look you might qualify for loans or credit lines
and not even know it but on a consultation with us you'll find out exactly what you can qualify for
as well as tips and tactics to help build your business credit give us a call at 877-600-2487
grab your funding vault at creditsuite.com/27 ways and you can also schedule
your free consultation at creditsuite.com/console did you like this
if you like this training then make sure you like and subscribe and I look forward to seeing you on
our next training we talk about more cool ways to get money to start and grow your business.