What if your small business had access to all the money you would ever need?
Every small business struggles with obtaining financing. However, accounts receivable financing has made it easier than ever to borrow what you need exactly when you need it.
Wondering how AR financing can help you and your small business? Keep reading to discover the answer!
1. Quick Cash
You’re likely wondering, “what makes accounts receivable financing so special?” One answer to this is that it lets you quickly get the funds you need.
When you borrow money using other methods, you’re typically stuck waiting. In fact, it’s not uncommon for your business to wait anywhere between 30 to 90 days!
With AR financing, you get the money you need much quicker. And having quick access to working capital creates many opportunities for your business to scale over time.
2. No Collateral Necessary
One of the main alternatives to AR financing is a bank loan. However, such loans force you to put up collateral, and that doesn’t work for every small business.
For example, some businesses may just not have the collateral at the time. It’s the paradox of business: you want to grow your small business, but you’re limited by being a small business.
Some owners don’t like collateral because it puts some of what they have worked so hard for in the hands of a bank. Fortunately, AR financing provides an alternative to bank loans that requires no collateral at all.
3. Easier Than Loans
Let’s say that your small business does have a choice between a bank loan or AR financing. What makes financing a better choice?
At the end of the day, AR financing is easier than loans. You don’t have to worry about your credit score or even worry about the annoying hassle of monthly payments.
Additionally, bank loans are going to require a stressful paperwork process every time you borrow money. With AR financing, you set everything up ahead of time. At that point, you can access your money whenever your business needs to grow.
4. Growing Your Business
All of this adds up to our final point: AR financing is the best choice for a company that is looking to grow.
By skipping the long wait time for funds, your business can handle unexpected boosts in sales. As customer demand grows, you won’t have to wait to increase your supply of products.
And young businesses benefit from having no credit score requirement. This means you can make big moves to expand now instead of waiting for years to see your dreams come true.
To top it off, you’ll be dodging the high fees that come with other funding methods like a Merchant Cash Advance. With no stress, low fees, and quick cash, AR financing is the best choice for a growing business.
AR Financing: The Next Step
Now you know the benefits of AR financing. However, do you know which lender is waiting to help you grow?
We specialize in funding small businesses and helping them expand. To see how we can help you grow your own business, come apply for a loan today!