You have working capital. But it’s tied up in operating your company. So when you need cash, you can’t access it.
Bibby Financial Services can release cash flow to fund growth, develop new products or restructure your business through our Accounts Receivable Funding KickStart Program.
What is it?
Accounts Receivable Funding is a form of working capital finance through which we advance payment of outstanding accounts owed to you. We can advance up to 85% of your accounts receivables (90% for trucking and temporary staffing businesses). When we collect payment from your client, you receive the balance due less our modest funding fees.
How does it work?
We focus on the quality of your accounts receivable rather than a credit scoring process, company balance sheet or personal assets. We use our database of more than 180,000 customers to evaluate the credit rating of your customers. From there, our professionally trained staff establishes a system for collections, including issuing statements, verifications and collection calls.
Who is it for?
Family-owned businesses, sole proprietors, small companies needing cash to support rapid growth, firms with seasonal peaks and valleys in their business cycles, companies undergoing a restructuring, and startup companies can all benefit from accounts receivables financing.. Many new businesses use factoring that do not yet qualify for a bank line of credit. Some companies use factoring services for 12 or 18 months and then, as business evens out, they may qualify for bank financing. But some companies prefer to stick with the flexibility and quick response that a factor can provide.
Examples of industries we serve: Staffing, Transportation, Manufacturing, Distribution, Apparel, Security Services, Business Support Services, Engineering, Printers and Wholesalers. Many businesses that sell to other businesses on credit terms of less than 60 days can also use our services.
What are the benefits?
- Fast and flexible application process
- Competitive, fixed discount pricing
- Facility of $100,000
- 24-48 hour turnaround
- No monthly minimums fees
- Flexible ACH or wire cash options