If you struggle with cash flow at your business due to outstanding invoices, accounts receivables financing help you maintain daily operations as you wait for payments to come in. Here’s what you need to know about accounts receivable loans and how they may benefit your business.
Accounts Receivable Financing Provides Fast Cash
Sometimes, cash flow issues arise unexpectedly. If you’ve been waiting on an invoice for awhile and now the lack of funds is affecting your day-to-day operations, an accounts receivable loan may be the solution you need. It is common for many businesses to have access to the cash they need within 24 hours of applying for the loan.
Cash from an Accounts Receivable Loan Can Fund Any Business Expense
There are no restrictions on how you can use your accounts receivable financing. You may put the cash toward accounts payable, payroll, office supplies, or any other business expense. With an accounts receivable loan, you can continue to serve your customers and pay your staff without worrying about cash flow.
Accounts Receivable Loan Terms Are Short and Don’t Require Fixed Payments
Because they’re intended to solve a short-term challenge, accounts receivable loan terms tend to be short, too. Most are 60 days, but 30-day and 90-day options are also available. Many accounts receivable loans do not require fixed payments, which makes it easier to scale payments with your cash flow needs.
Accounts receivable financing can help you manage your business’s cash flow and get you the capital you need to operate your business before payments come in. If you think accounts receivable financing could be the solution to your cash flow issues, get in touch with the Legendary Capital Solutions team. We can help you explore your options and decide how to move forward.
Disclaimer: The contents of this website do not constitute financial advice and are provided for general information purposes only. If you require specific financial advice, you should contact a financial advisor. We can only advise on the basis of specific client instructions and are unable to offer financial advice by email to people who are not our clients. To learn how to become a client of Legendary Capital Solutions, please contact us.