How can I overcome poor credit?

BEWARE! We received a mailing from AR FUNDING and as a small business struggling for working capital decided to utilize this service. Be prepared to pay undisclosed fees and massive amounts of money to terminate your contract. Once you sign the contract AR Funding owns the account and can do whatever they want. I strongly suggest that you attempt traditional lending before using any service like this.

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Use caution with account receivable financing. Remember by definition accounts receivable financing is the sale of an interest in your accounts receivables. So in the equation where you would normaly see a profit is quickly diminished by the “fees” for the cash advance. I get insensed when I hear people offering this to small business startups without giving the obvious caveats. You do realize cash advances like these are nothing more than a method of slowly bleeding the business. I think this financing method is only good in order to buy time to obtain a traditional loan. You are only buying time! If you plan on using AR Funding for long periods good luck. The margins are too thin to consider any remaining profits with the fees up to 3% for the first 30 days, and can go up to 10% or more for the invoices that exceed 45 days or more. Anyone with business experience knows that invoices are the slowest method of obtaining payment. This is because you are dependent on someone else’s accounting system for payment. If you had control over your clients accounting you would pay yourself every 1-3 days like credit card purchases or instantly(cash). When the accounts receivables exceed lets say 45 days, the AR Funding company will typically hike the rate 3-10%. You will see accounts receivable financing is a like the old folks from up North used to say “their nickling and diming you to death”. If you can’t get a loan good luck with all these extravagant methods. They are easier to get but not without high cost to your business. Anyone who says otherwise is not being honest and has not read the fine print. I’m not saying don’t consider AR Funding, what I offer is caution. I would recommend using it to buy time in order to get your loan, ie. fixing your credit, or shopping your idea to more investors. The longer you remain on the AR Funding I.V. bag the closer you are to bankrupting your business. AR Funding allows your business to go on sort of pay check to pay check.

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You may be eligible for a business lease through my company. If your FICO score is greater than 630 I may be able to help you secure $15k for business equipment.

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