What is accounts receivable financing?
Accounts receivable financing is the purchasing of accounts receivables at a discount.
Businesses need capital to operate and to grow — and sometimes they need it before clients are able to pay for completed work.
Also known as “factoring”, accounts receivable financing is a $130 billion industry in the US alone and allows a small or medium-sized business to get their money immediately. It’s a common solution for everyday cash flow needs, or for tempory cash crunches associated with timing problems or rapid growth.
Businesses can use this immediate capital to pay employees and operating expenses and to purchase orders to continue their growth.
Why Consider Accounts Receivable Financing?
Accounts receivable financing (also known as factoring) with capitalNOW is the fastest and easiest way to get operating capital for your business without taking on debt.
You sell us a specific invoice and we give you a cash advance, or down payment, of 75% of that invoice’s face value. Once your customer has paid the invoice (usually within 30-45 days), we return the remaining 25%, minus our fee.
capitalNOW is set up to solve your everyday cash flow needs or temporary cash crunches caused by timing problems or rapid growth.
The application process is quick and your company’s creditworthiness is irrelevant. Your quality invoices and your customer’s ability to pay are our only concerns.
capitalNOW can fund your first invoice within 24-48 hours of product delivery or service completion — and we can fund subsequent invoices in just hours!
Step 1 – Application & Agreement
Complete our brief application and sign our agreement.
Step 2 – Submission & verification
You send us the invoices that you want us to finance and we verify those invoices with your customer. We work with hundreds of Alberta-based businesses and we likely work with your customer too!
Step 3 – Payment
We wire the money directly into your bank account. If the invoice is verified by 2pm MST, you’ll have the funds the same day; otherwise, the next day.
capitalNOW vs Banks
- We actually couldn’t be more different!
- We finance your abilities, not your financial statements.
- We finance from today going forward, not based on your past performance.
- We have a single fee that we charge at the end of the transaction – we don’t nickel and dime you over every service.
- We require very little paperwork.
- With us, a decision maker always picks up the phone or returns your email.
Why You’ll Love Us
Once you become our client, we’re usually able to fund you the same day. When you call or email us, you’ll always communicate with a decision-maker, which means our service is fast and effective. We’re not sales people who will get your hopes up only to decline you weeks later after you’ve spent a lot of time gathering “necessary paperwork”.
Competitive rates and no hidden fees; you’ll realize more profit for your business.
capitalNOW doesn’t change application fees and we don’t disguise our cost using terms like administrative fees, wire fees, transfer fees, activation fees, service fees, or access fees.
All those things that you hate about banks and cell phone companies; we just don’t do that.
Mission & Vision
The mission and vision of capitalNOW are to be of genuine assistance to our clients and prospects. We are respectful of everyone’s time and business relationships.
We are transparent, decisive and flexible.
Over the last decade, we’ve built our business on the foundations of friendly, open service; honest and fair dealings with our customers; and a desire to help small and medium-sized businesses grow and thrive.
We put ourselves into your corner and help you make financing decisions that won’t leave your company in debt. And if we can’t offer you the kind of financing — or other related services that you need, we’ll help you find the right people who can.
We know that small and medium-sized businesses are run by hard-working people who employ others and drive our economy — and that banks are often reluctant to pitch in and help. We’re not.
We’re a small business ourselves and we know what it takes to keep everything running smoothly. When you call us, you’ll talk to a decision-maker right off the bat.
And if we can help, we’ll help you quickly — often within hours!
We charge a single, fair fee for our services and take pride in the fact that our satisfied clients are our most effective source of new business.
Apply now and find out for yourself how easy it is to work with the friendly people at capitalNOW.