In an industry where account standing is based on the credit worthiness of a client’s debtors, Asset Commercial Credit also coaches their clients on bank lending requirements. The goal is to provide an interim source of financing with an aim towards “graduating” clients back to the bank. Reporting requirements for their customers are the same as most banks, even though collateral is typically limited to accounts receivable. For the past year this consulting approach resulted in several clients obtaining bank financing and either “graduating” or receiving a combination of bank lending with Asset’s A/R financing remaining in place to meet occasional short term needs. “This concept is integral to our marketing model, emphasizing mutual referral relationships with banking professionals,” explains Shaun Rovai, CEO.
Asset Commercial Credit’s “Faster Cash Flow Program” Shows Results with Growth in Account Base --
An informal self survey of clients by Asset Commercial Credit confirms speed, flexibility and good service are the keys to growth and continuing client loyalty. Asset Commercial Credit underwrites, funds and manages its own portfolio of clients with risk evaluation decisions completely in house. Their process is flexible and responsive to the cash flow needs of growing companies and there are no minimums, line fees, length of contract terms or early termination fees applied to accounts. Credit facilities may include Accounts Receivable Financing, Invoice Factoring and Purchase Order Financing. Although a maximum credit limit is stated in the financing agreement, it typically serves as a starting point that is based on the initial credit evaluation. The program is designed to grow with the client’s sales and is virtually unlimited. “Features especially critical to prospects are our express application and approval process,” said Raymond LaBelle, Chief Operations Officer, in charge of credit risk and evaluation. “We can typically have a client on board within 72 hours or less.”
Every day new deals are coming your way. Are you able to help them all or are you avoiding some because they are turn downs? --
Since we both serve a similar clientele, we have a good opportunity for mutual referrals: small business owners. Asset Commercial Credit finances small businesses by adding operating capital to the client's company through the purchase of qualified Accounts Receivable. Our typical client is growing too fast for cash flow to keep up, or is too young to obtain SBA or traditional bank financing. Asset Commercial Credit also coaches their clients on bank lending requirements. The goal is to provide an interim source of financing with an aim towards “graduating” clients back to the bank. Our concept is to solve an immediate need and eventually return the deal as an opportunity for you.
