Startup Business Line of Credit with Invoice Factoring
You have a great business idea, but you don’t have sufficient funds to kickstart your company. The truth is that it’s hard to get a loan from a bank or catch the eye on an angel investor, but this doesn’t mean that there is no way out. Working Capital of America offers invoice factoring solutions that work as a startup business line of credit. You get the funds your customers owe you in advance to use as working capital, while we manage the payments. Our expertise accumulated over 20 years in the industry makes us confident that we can help you, no matter what the specifics of your business are.
Unique Way to Get Cash
You can get up to 95% of your invoices’ face value within 24 hours of selling them to us. Thanks to our fast processing system and experienced accounts receivable managers, we are able to wire the cash to your bank account on the day of the sale. The other option you have is to receive ACH funding on the next business day.
By taking over the collection of payments from you customers under the same terms and conditions as originally agreed with you, we make it easier for you to focus on getting your business started. We’ll transfer the outstanding amounts discounted with our administration and processing fee to you upon receiving the payments.
Factoring vs. Bank Solutions
The easier access is a key advantage of our factoring solution over a startup business line of credit provided by a bank. The fact that your company has no credit history doesn’t mean that you cannot get a cash advance, as we are more interested in your clients’ ability to pay.
Since new companies are higher-risk customers for banks, it’s common for them to offer only secured business lined of credit. When you don’t have sufficient collateral, which is usually the case, this isn’t the end of the world. We can buy your accounts receivable and pay you out right away.
Fulfilling a larger than the typical order for your company will not be out of your reach when you use our purchase order factoring solution. While a bank may take a considerable amount of time to assess your eligibility for a credit line, we can purchase the invoice to your client right away to help you begin work without delay.
With WCA, you will get what is virtually a startup business line of credit, but it will not go up as a liability on your balance sheet. This is a major advantage over traditional credit products because it will not make your company appear less financially stable.
How to Begin
To get cash in advance and cover your expenses and/or invest more money in your business, even if your billing term is 90 days, apply for invoice factoring on our website. It takes less than a minute to fill out the online form and you will know the outcome of your application in less than 72 hours. At Working Capital of America, our team of specialists is ready to help startups of practically any industry.