Free up cash and minimize risk
Factoring is a flexible and proven method of accelerating cash flow for your business. Instead of waiting 30-90 days for clients to pay their invoices, Accord Financial can advance up to 90% of the face value of your outstanding invoices. This frees up cash for everyday operating expenses and expansion, and saves you the management time typically associated with credit investigation and collections.
While a traditional bank lender analyzes a potential borrower's history of profitability and balance sheet strength, Accord Financial focuses on the creditworthiness of your customers. We can provide financing from $250,000 - $20 million through this service.
Is your business experiencing any of the following? We can help.
- Organic growth and expansion
- Acquisitions and buy-outs
- Operational and financial turnarounds including losses
- Undercapitalized balance sheets
- High customer concentrations
- High seasonal borrowing requirements
Accord Financial typically advances up to 90% of the face value of your invoices within 24 hours of you delivering the product or service. The balance is payable when we receive payment from your customer. We'll handle the day-to-day transactions with your customers, solidifying relationships and saving you the hassle of dealing with collections and credit investigations.
Factoring offers a number of advantages:
- It is easier to obtain than bank financing
- Factoring agreements don't have ongoing financial covenants
- Your line is flexible and grows with your business
- You can extend payment terms for customers
- You may take advantage of early payment terms from suppliers
- Management is relieved of the time and overhead costs of credit investigations and collections
Accord offers asset-based loans in conjunction with factoring, so that clients who finance their accounts receivable can also use the value of their inventory and equipment to augment their liquidity.