Accounts Receivable Financing: A Quick and Easy Liquidity Solution for Your Business
Your company can turn open invoices into cash even if they are not due. Through our accounts receivable financing program, Barrington Commercial Capital purchases your open receivables at a discount, providing your business with capital without waiting for invoice due dates or bank approval. Financing receivables is an excellent way to generate cash quickly when you do not want to incur debt.
Selling open invoices is a faster and easier liquidity solution than traditional lending avenues. Financing receivables, also known as factoring, is not a bank loan. There are many differences between factoring and loans:
- Your company is selling an asset, your open invoices. Since the transaction is a sale, your business is not in debt to Barrington Commercial Capital.
- Approval is not based on your credit rating. Instead it is based on the credit of the customers associated with your open invoices.
- Cash can be available to your company in as little as 24 hours. You will not wait for weeks or months for loan approval.
- You will not need to budget for monthly fixed payments. Since factoring is not a debt, you will not face years of repayment after you receive your cash.
Once you have your cash, you are free to use the capital for expansion, payroll, inventory purchases or any other project that will improve your business. You are not responsible for customer non-payment on the invoices or any other payments to Barrington Commercial Capital.
Learn More About Financing Your Receivables
Contact Barrington Commercial Capital today to find out how quick and easy a liquidity solution factoring can be for your business.