Invoice Financing
Invoice financing (also known as invoice factoring) allows businesses to borrow funds directly correlate to the amount on customer invoices. With invoice financing, businesses receive an immediate payment to improve cash flow, pay employees, and/or reinvest in the business while waiting on outstanding customer invoices.
Invoice financing is an excellent solution for businesses who frequently have a long time pass from when they complete a job or service to the time they receive payment of an invoice.
Invoice financing is a form of short-term borrowing based on your business’s long-term unpaid invoices. Through invoice factoring, Berkman ‘purchases’ your business’s accounts receivable to improve your working capital. These funds are immediate and can be used to pay for a variety of company expenses.
Invoice financing (aka Invoice Factoring):
uses unpaid invoices as collateral for financing
can be used to increase cash flow, speed up expansion and/or investment plans.
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Over 60% of small business loan applications are rejected by banks each year. As entrepreneurs ourselves, we know that traditional banks make it difficult for small businesses to obtain a working capital loan. NextGen Business Lending Group works with a myriad of small businesses with varied credit backgrounds. We proudly serve a multitude of industries offering personalized financing solutions for every size and type of business.