$137000 in Account Receivable Financing | Just Funded…One of our electrical contractor clients just secured $137,000 in account receivable financing!
They were looking to get more of their profits re-invested into their business, but instead we’re waiting up to 90 days just to get paid on work they had done!
So we secured $137,000 in account receivable financing so now they get 80% of their funds the next day after their receivable comes in. Instead of waiting months to get paid.
And they get the other 20% less their discount when the invoice is paid.
This has helped them get paid faster, increase their profit margins. And now they’re growing their business at a rapid pace!
How Business Credit Really Work?
The first step is to ensure your business is set up credibly. So you meet credit issuer and lender standards before you apply. Next, you get real useable credit through vendors. These vendors will give you credit when you have no other EIN credit established. And they report this credit to the business reporting agencies.
Within 60 days or less that credit is reported to Experian, Equifax, or Dun & Bradstreet. Once reported, your EIN will then have an established credit report and score.
Using that report and score you can then continue to apply for more tiers of credit where you can start getting access to revolving credit at most stores, credit that’s linked to your EIN and not your SSN, and credit that doesn’t require a personal guarantee or personal credit check for approval.
You can continue to grow your credit to obtain fleet cards, even Visa and MasterCard cash credit. And by having business credit established you’ll have a much better chance of getting loans, credit lines, and get these at better terms.
Click Here to see how much funding you can get for your business.