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What Is Accounts Receivable Funding & How Will It Work for My Business?

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Businesses no longer have to suffer at the expense of banks or credit card companies, there are now better ways to receive advance cash to cover your business expenses, or even to reinvest or expand your business. Accounts receivable funding is also known as Invoice Discounting and it works by using your Accounts Receivable ledger as security or collateral for actual cash. You can receive cash within 24 hours, instead of waiting for your customers and clients to pay their invoices 30 to 90 days later.

How Does This Work?

If your business needs some extra cash for whatever reason – to buy supplies, pay staff, fix or replace broken equipment – you can tap into the money that’s within your Accounts Receivable ledger. How it works is that you apply through Tim Finance, and be approved within 24 hours. You then receive your cash quickly, instead of waiting 30-90 days for your customers or clients to pay their invoice bills. The cash you receive can be used for any business purpose, such as major investments or business expansion.

How Does Accounts Receivable Funding Work?

You’ll first begin by filling out our Quick Online Application form. Then you create your funding account where your invoices are emailed or uploaded to us. Tim Finance (TIM) will then transfer up to 90% of the face value of your invoice into your account within 24 hours. And then it’s up to you as to what you do with it from there.

What Are the Details?

You’ll receive up to 90% of the face value of your invoices. Actual rates may vary, depending on how much your ledger is. There are no upfront fees. And once the invoice is paid by the debtor, you’ll receive the remaining balance minus a small discount fee.

How Much Money Can I Access?

It depends on how big your Accounts Receivable ledger is. Smaller businesses will qualify for small cash advances, while a larger business will qualify for a greater amount. For example, $100,000 is the minimum amount, as long as you have sufficient outstanding invoices to provide for this amount that you require. What’s so handy is that this amount is based on your AR ledger and not your past sales or how much debt you already have.

If you’re interested in learning more, please contact us today at Tim Finance.

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