Factoring
What Does Your Business Need?
Accounts receivable factoring is the selling of your invoices (accounts receivable)
for cash versus waiting 30-60 days to be paid by your customer. Factoring will
get you the working capital you need now and improve you cash flow. Encore's
Worldwide Financial can arrange an advance 65-90% against the invoice you generate.
Accounts receivable factoring is the selling of your invoices (accounts receivable)
for cash versus waiting 30-60 days to be paid by your customer.
Equipment, POS, Computers or any business need business owners think only of
their local or regional bank when it comes to equipment financing or asset based
lending for their business. Banks, however, make up a small part of the lending
universe. There is a whole group of commercial finance and equipment leasing
companies who understand equipment financing, asset based lending and "less
than A" credit financing situations. Depending on your industry, financial needs
and credit situation; you may not fit the lending criteria of your local bank
or they may not understand or be comfortable with your industry. For instance,
most banks will not lend to a business less than two years old unless the principals
have substantial net worth. Also, many banks only "really" like land and buildings
as collateral (no matter what they might tell you). A commercial finance or
leasing company probably has loaned money to a business just like yours and
can structure the deal so that you can get the working capital you need at terms
that will improve the health and cash flow of your business.
Trade Financing or Purchase Order (PO) Funding is typically more expensive
and harder to acquire then any other type of business financing. Encore's Worldwide
Financial has made available a unique product for brokers, resellers, importers
and exporters that in the past may have had difficulty obtaining PO financing
or if they have found purchase order financing, it was cost prohibitive. We
are transaction driven, which means we will fund startups and businesses less
than 2 years old. We look at the credit worthiness of your customer and the
ability of your vendor to delivery the goods.
We work with banks, lenders and leasing companies all over America.
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