Why Choose Allied Over Others – September 23, 2019
How to Choose the Right Receivables Funding Partner
As your business grows, you need a flexible financial solution that provides the working capital necessary to support the needs of your changing, expanding company. Factoring turns one of your most valuable assets into cash: your company’s invoices. But why not choose traditional bank lending? Oftentimes, new businesses with limited or negative equity, inconsistent profit history or losses, or high customer concentrations, find that traditional bank lending is not an option yet.
Accounts receivable financing (factoring) combined with other asset based lending solutions such as inventory, equipment or real estate financing can be a reliable way to tap into immediate working capital and accelerate your cash flow.
However, you also must choose a reliable factoring partner – one that will be there when you need a fast response, when you face business challenges or opportunities, and one that will be the right fit for your organization.
So, why choose Allied?
Simply put, Allied Affiliated Funding, a division of Axiom Bank, N.A., will get you the cash flow you need, with a funding structure that works for your business, be it same day funding, flexible fees where you only pay for what you use, a company that already has the experience in working with your customers, or transparent fees so you are not left wondering. With over 27 years in our history, our team works to get our clients the cash they need, when they need it, without any surprises.
Traditional factors have a tedious approval process that can take several days or even weeks to fund your accounts receivable, while creating roadblocks and questions with your customers in the process and charging you hefty fees along the way.
When you submit your invoice to a traditional factor, the factor will first run a credit check on your customer, which can take two to three business days to review. Then, once your customer’s credit is approved, the factor will work to contact your customer and verify the invoice including when the invoice is approved and when it will pay. As you can imagine, sometimes this process can take several days to complete. And, as a result, you experience slowed cash flow while waiting for your invoices to be approved for funding, the exact opposite of what accounts receivables financing should do for you.
There are also the financing costs to consider. Your company could be charged additional fees, such as a minimum invoice size, an unused line fee, additional processing charges, minimum sales requirements, cost of funds fees in addition to your invoice discount fees, early wire fees, and more. And, on top of that, they may require you to factor all your invoices, charging you even if you are not in need of the funds. The hardest part after that is figuring out all of those costs and where you can find them.
That’s not Allied.
Our factoring philosophy is centered around how to provide same day funding, excellent client service, competitive rates, and full transparency. We believe in helping our clients succeed. The more you know as a business owner, then the better you can manage and grow your business so you can become bankable.
|With Another Factor||Partnering with Allied
|Invoice Requirements||All Accounts Receivable||You Choose|
Once Credit Checked and Verified
get funds when you need them
|Verification||Every Invoice, Prior to Funding||Customized Program
we work with your existing team and billing
|Funding Turnaround||After Verification of Invoices||Work to get Funds to You
the Same Day
|Reporting Available||Some Reports but May Have Certain Fields Hidden||All Available Fields Active
Easily see fees, reserves, availability and balances
We work with you and your team to customize a financing structure that gets you the working capital you need, when you need it, while giving you reliable, accurate information to run your business. We give you access to all reporting including the fees so you can see your overall costs, which is typically in one easy to understand rate, without all the hidden charges.
With Allied’s receivables financing solutions, you choose which invoices to finance.
- upload your list of invoices into our online portal
- send us the invoices that you’ve already sent to your customer
Our credit team makes decisions every day, in real time, when you need it, so that you can get the funds you need when you need them. We work to fund that very same day.
The customers that you’ve financed will make payment to our account (you do not have to have all your customers pay to us). This way you are not charged for money you don’t need.
Reduce your cost of money and pay a more appropriate rate for your business, one that fits with your company, your margins, and your industry, without the extra fees.
No minimum invoice fees, no unused line fees, no float or clearance days… no hidden fees.
Allied makes it easier for you and your business to work with us to secure financing for your working capital needs, so you can focus on what matters most: running and growing your business.
The decision to choose the right financial partner involves many criteria, but the choice is clear — choose Allied Affiliated Funding, a division of Axiom Bank, N.A.