account receivable factoring and business unsecured loans
The purchase of accounts receivables at a discount.The factor is a person or business that pays immediate cash (up to 80%) for business receivables
Not a loan – sale of an asset Faster to fund than traditional loans Non dependent on credit rating Non dependent on assets Startups ok Strengthens balance sheet Unlimited capital
The more the following applies, the more factoring will be beneficial: Have trouble paying operating expenses Company is growing Company is young Company is small to mid-size Company sells to larger companies
The rate is way too highDecrease profit margin, why would someone pay the factor rate and cash in less?Only struggling businesses utilize factoring
Complete and Current Customer Listing – includes Primary contact and telephone number. This is necessary to determine overall credit of your customer base. Current Aged Accounts Receivable General Application Copies of any contracts you are presently working on 3 month bank statements 1 Void Check Copy
Any type of debt or general obligation that is not collateralized by a lien on specific assets of the borrower in the case of a bankruptcy or liquidation or failure to meet the terms for repayment An unsecured loan means the lender relies on your promise to pay it back. Theyre taking a bigger risk than with a secured loan, so interest rates for unsecured loans tend to be higher.
No collateral is needed to secures the funds Repaying on your UBF helps you to strengthen or build your credit history. Which is especially great for small and startups businesses. Full freedom over the usage of the funds
small businesses with little assets and no property depend on loan options that are unsecured. Small businesses also has no collateral and has a less than perfect financial history making approval for an unsecured business loan or line of credit unlikely. Thus, UBF best suite small companies and startups.
user and password from tcmonitor.com Article of Incorporation 3 years of tax return A complete UBF application form
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