Update/Information for Businesses Affected by COVID-19
from the team at AR Funding
AR Funding is committed to supporting companies affected by the economic crisis. For some, bank loans and government assistance may not be available or sufficient. In these cases, invoice factoring can help to improve cash flow and improve financial resilience.
Our team is working hard to find creative, sustainable solutions to the challenges that today’s businesses are facing.
What is invoice factoring?
Invoice factoring accelerates cash flow by giving businesses access to the cash as soon they invoice a customer for goods or services instead of having to wait up to 90 days to receive the funds.
How can factoring help businesses affected by the COVID-19 crisis?
Factoring can be used as an alternative to bank loans or lines of credit, or as a complement to these funding sources. During the current economic downturn, invoice factoring can give businesses greater flexibility and resilience by providing better cash flow and access to the working capital needed to manage operations.
What types of businesses qualify for invoice factoring?
Businesses of any size or type can qualify for invoice factoring. Even businesses that don’t qualify for bank loans or lines of credit can use factoring to turn invoices into cash. AR Funding works with companies in transportation, staffing, manufacturing, security, wholesale/distribution and many other industries.
How quickly can a business receive cash through factoring?
AR Funding understands that businesses need to move quickly to address their cash flow issues in today’s economic environment. We are fast-tracking applications to grant approvals in as little as 24 to 48 hours. Once the account is set up, we can fund as much as 90+% of the value of a company’s outstanding invoices.
What are the steps to apply for factoring?
Start the application process here. If you need help completing the application, or if you have questions about invoice factoring, please contact an AR Funding representative in your region or call 800 756 3386.
Why AR Funding?
AR Funding is a trusted firm with 24 years of experience in factoring and a combined 100+ years of expertise on staff. Our reputation is built on fair dealings and service excellence. We simplify the factoring process by guaranteeing a transparent rate structure, no hidden fees, no up-front costs, and flexible contracts.