Between the upcoming production-delivery-and-sales cycle of the holiday season and the closing of 2014, there is far more benefit in having the cash from your current accounts receivable in your bank account rather that on your balance sheet. You took the orders, produced the goods, shipped them and promptly sent the invoice. Rather than wait 30-, 45-, 60- or even 90-days to get paid, by having Overnite Capital purchase your accounts receivable, aka factoring, your seasonal cash flow and working capital concerns are relieved.
Take the angst out of cash flow.
Once you apply and submit verified accounts receivable to Overnite, typically we can have funds on the way within 24 hours. You access the cash in your business without giving up equity. Factoring cash flow is more flexible and less expensive than short-term equity financing. Unlike banks, Overnite Capital does not look at your company’s credit scores or ratings. We look at the companies who are your customers and determine your funding on their ability to pay. Once your accounts receivable are due, we collect them for you, then disperse the balance owed to you, minus the loan costs.
Sound business sense.
Keep in mind that, factoring your accounts receivable is cost-effective in terms of capital and human resources. When you consider the
- ease of applying for the loan – we walk you through the process,
- quick turn around to get cash in-hand – within days , and
- huge benefit that we professionally collect the receivables for you, freeing your time and resources to do what you do best – grow your company,
partnering with Overnite Capital in your critical cash flow operation makes sound business sense!
Fast and fair.