Accounts Receivable Financing
Heritage Bank Accounts Receivable Financing is the Factoring, Accounts Receivable Finance and Asset-Based Lending Service of Heritage Bank. Heritage Bank doesn’t rely on financing from outside sources, which gives us lower cost of funds that we pass on to our clients in the form of lower fees. Our financial experts will show you how Accounts Receivable Financing can significantly improve your company’s finances and get you the money you need right away.
Benefits to your business.
Funding is a necessary part of running a business that many business professionals deal with for hours a day. It can become frustrating when your company’s cash flow is unable to cover your operating expenses, even though your invoice aging report indicates that there are more than enough outstanding invoices to pay the bills.
Heritage Bank Accounts Receivable Financing can provide immediate assistance by turning your outstanding invoices into cash, allowing you to focus on what you do best: servicing your customers and generating new business. With proper financing today, you can get where you want to be tomorrow.
How it works:
Deliver on product or service for your customer and send them an invoice.
Heritage Bank verifies the invoice and buys it from you.
Heritage Bank advances you 80- to 90% of the value of the invoice and then waits for payment.
Heritage Bank monitors the invoice.
Invoice is paid and Heritage Bank collects the funds.
The Remaining 10- to 20% of invoice is released to you, minus service payment.
Contact Heritage Bank to learn more about this service.