Bank Financing - The Facts
Why be locked into a financing relationship where you have no control?
The Receivables Exchange provides a more flexible alternative to bank loans or lines of credit. Banks have long been a staple of business financing, but bank loans often come with exorbitant fees, heavy restrictions and personal risk. To satisfy bank loan requirements, a business is usually required to put up a mix of collateral, including cash and hard assets. Since the recession, banks are more likely to ask for a personal guarantee, which means that if you can’t pay back your loan, you risk losing valuable business assets – and personal ones as well.
The Receivables Exchange offers a better way to finance your business.
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Bank Financing |
The Receivables Exchange |
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Expect to pay lots of fees--facility, unused line, early cancellation, to name a few--on top of the loan amount.
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Limited fees. Market-based rates.
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Your company's credit limit is fixed. Getting an additional credit line can take months.
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Choose which invoices to sell and use the Exchange as often or as little as you need to supplement your cash flow.
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Requires personal guarantees, restrictive covenants and liens on all of your assets. And the bank has the right to pull your credit with limited warning.
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No personal guarantees, covenants, all-asset liens. We only take a lien on the receivables you are selling.
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Bank loans can take 90+ days to be funded. And with extensive auditing requirements you could be in for a long wait.
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Once approved, transactions happen in real time and you can get cash in as little as 24 hours.
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We've already helped thousands of companies get the financing they need to grow their company. Get started now.
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