By NAN Business Editor
News Americas, NEW YORK, NY, Fri. Jan. 4, 2019: Do you find yourself watching your mailbox or inbox for customer payments? Waiting for the cash to flow into your business can be frustrating, but invoice financing, aka “accounts receivable financing,” offers a short-term solution as you await your customers’ payments.
The company administering an invoice cash advance will advance you about 85% of the total loan value, and then hold 15% in reserve.
From this reserve amount, the company will collect their fees, which is typically based on the amount of time it takes your customer to pay you back, as well as a flat processing fee – around 3%. You’ll receive the reserve amount, minus fees, once the invoice is paid.
Minimum Criteria to Receive Invoice Financing
|Years in Business Required||6 months+|
|Annual Gross Revenue||$50,000+|
|Bankruptcy allowed?||Yes, you could qualify for an invoice loan despite having filed bankruptcy.|
|Credit Card volume a factor?||No|
|Accounts Receivable a factor?||Yes|
|Second position allowed?||Yes|
Caribbean-American and all business owners seeking invoice financing, a Line Of Credit, loans or other expansion capital have many difference options available including Start-Up Loans as well as Medium-Term Loans, A Line Of Credit, Invoice Financing or a Merchant Cash Advance.
Ask for more information on how you can access any of these finance options and start the New Year right.