Accounts Receivable Financing

A five year old clothing manufacturer was experiencing a growth setback while trying to expand their company. They had a problem that most companies face where they could not grow, because it was taking too long for them to receive payment on invoices or receivables for services that they had completed. They were waiting up to 90 days to receive payments. With their outstanding receivables totaling over $2,000,000, it really set them back on expanding their business. Their current bank did not offer this type of AR financing, so they had nowhere to go. Accounts receivable financing provided them a one-stop solution where they could sell their receivables and get cash in 24 hours or less. Now the company did not have to wait any longer to get paid and expanded their operations.