Factoring offers advantages over traditional bank loans. Factoring can solve your cash flow problems and protect your business against devastating bad debts. Sterling Factors will guarantee the creditworthiness of your customers, and you don't have to wait to get paid. We collect payments, absorb credit losses, and make cash available to your business whenever you need it. If your customer doesn't pay, it's our problem, not yours. You are not restricted to a line of credit. As your business grows, so does your ability to borrow.
At Sterling, we understand that your business needs cash to grow. If your customers take more than 30 days to pay, it can mean trouble meeting payroll and replenishing inventory. We can help you avoid the cash crunch by making sure your receivables work for you and providing hands-on collections assistance unparalleled by traditional credit insurance companies. Most importantly, we customize our solutions for your business, ensuring just the right fit.
Factoring enables you to receive cash as soon as merchandise is shipped and invoiced to an approved buyer. In addition to borrowing against receivables you may be able to borrow against inventory or open up letters of credit for overseas purchases.
Collection factoring provides you with the benefits of credit protection and collections services. This is a non-borrowing arrangement that relieves you of your credit and collection concerns.
Accounts Receivable Management Service (ARMS)
ARMS provides you with receivable management services without credit protection. If your customers are unquestionably creditworthy, you may not need credit protection, but you may like the idea of utilizing our professionally trained collection department and systems to economically handle your receivables. Collections may come in faster because your invoices will read “Payable to Sterling.”
Trade Finance / Letters of Credit
If you are an importer, we may be able to assist you by opening letters of credit to your foreign supplier. (Click Here For More Information)
In addition to advances against purchased A/R, we may be able to assist with advances against your inventory.