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What
is Accounts
Receivable Financing?
Accounts Receivable
Financing is
a complete system that allows you to maximize cash tied-up in your
accounts receivable.
How
Does Accounts
Receivable Financing
Work?
As your business
sells products or services to customers, you submit one or any number of invoices to Summit Financial Resources. Summit Financial Recources finances the receivables
on a discounted basis. A
portion of the invoice amount will be held back based on a pre-determined
advance rate. The rest of the funds are placed in your business’s
checking account within 24 hours.
How Can
Accounts
Receivable Financing Benefit Your
Business?
Accounts
Receivable Financing allows your business to improve
cash flow. You receive cash for all
existing and ongoing accounts. The Accounts Receivable Financing program
essentially puts you on an all-cash basis with your customers, enabling
you to:
•
Pursue new business opportunities
•
Take early payment discounts from suppliers
•
Make payroll
•
Remit payables in a timely manner
•
Take advantage of quantity buying discounts
•
Reduce lines of credit
Save
Time and Money.
You can stop spending
time managing debt, and start concentrating on increasing sales and
growing your business. Since Accounts Receivable Financing can be completely
electronic, you avoid having to make a trip to the bank.
Improve
Management.
Accounts Receivable
Financing gives you detailed reports that can dramatically improve the management
and tracking of accounts receivable.
Offer
Financing to Customers.
Accounts Receivable
Financing allows your business to offer flexible financing or terms to your
customers. In addition, you have the ability to set – and monitor –
customer credit limits.
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