The process is simple and quick. Once AWFG is familiar with your business particulars,
we ask you to fax a copy of the invoices you chose to the funding source we have agreed to pursue. The funding source
performs a due diligence on the invoiced companies and then gives you an amount called an advance. Each funding source has
different criteria for determining the advance, but as an example, let's use 70%.
Let's assume
that you decide to fund a single $1,000 invoice. You would receive $700 immediately, then the remainder of $300, minus the
discount fees (about $40) immediately upon collection from your customer. So you would have received a total of $750 immediately
plus $260 upon collection.
The initial process takes 5 to 7 business days. Once you have established a
working arrangement with the funding source, most receivables can be funded in 24 hours.
You do not need
to send the funding source all of your receivables, only the ones you would like to fund. Most funding sources have no monthly
minimums. Most have no term to which a client must commit. A client can send any invoice any time he/she likes.
If
you don't need the service for two months there is no obligation to use the service. Two months later, the account is
still open. You can slip right back into using the funding all over again without penalty or premium. Clients like this flexibility
and the control it gives them over their cash flow.
To learn more about Receivable Based Financing click
on the links below.
