The Letter of Transmittal

February 15, 2022

You finally see it in your inbox: the bolded email and subject line from the prospect you have been courting for months has finally sent you the financial package you requested. Naturally, you open the financial statement attachment, glance at the cover page and plunge into the numbers. And in so doing have completely bypassed a potentially valuable source of information: The Letter of Transmittal.

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Banker Survey: What’s Holding Up Your Small Business Loan?

August 4, 2020

We recently spoke with many small business bankers throughout the Southeast in an informal survey on the challenges facing small business owners in getting the financing they need—and what they can do to overcome them.

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Payroll Funding for Temporary Staffing Companies

June 18, 2020

When most people think about the industries served by Asset-Based Lenders or Factoring Companies, they think of manufacturers, distributors and wholesalers. For a growing company, the capital and labor costs to get product delivered to their customers can put a strain on cash flow.

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Tips for Small Business To Get Paid Faster from Their Customers

May 18, 2020

Cash is king.  For any small business, nothing is more important than cash flow.  Generating new sales is fantastic; however, late payments for those sales can have a negative impact on the business and its ability to operate.  Therefore, it is essential to get paid on time.  Here are a few tips to avoid the hassle of late customer payments and enjoy better cash flow.

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Is Asset-Based Lending or Accounts Receivable Financing a good temporary solution for “non-bankable” companies?

April 21, 2020

In this article, we will consider a similar question but from the perspective of a banker: Is Asset-Based Lending, Accounts Receivable Financing or Factoring a good temporary solution for my prospect or customer that is currently not “bankable?”

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Is Asset-Based Lending, Accounts Receivable Financing right for my company?

March 23, 2020

In a previous article, we attempted to explain the difference between Asset-Based Lending (“ABL”), Accounts Receivable Financing and Factoring. However, for purposes of this article, we will use Asset-Based Lending as a generic term for all three credit facilities.

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Asset-Based Lending, Accounts Receivable Financing and Factoring...What's the difference?

February 27, 2020

Many times, a small business owner needs help with cash flow but is not certain how to improve it. Some think “line of credit”. Some go further, looking for an Accounts Receivable Line of Credit. Some might want to factor their Accounts Receivable. Some may be after an Asset-Based Line of Credit (ABL). While all these inquiries are aimed toward the same goal—improving cash flow—many business owners may not grasp that each of these are actually different product options that may be available to them. If you understand the differences between each type of credit facility, then you stand a better chance of finding the cash flow improvement strategy that best fits your company.

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Online Lenders: Beware of the Cost of Convenience

January 19, 2020

Much has been written about Fintech and the online lending industry regarding how it’s going to disrupt the banking industry. As credit markets tightened, many small businesses were unable to secure financing from traditional banks, so they were left to look elsewhere. What they found sometimes was not what they bargained for.

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