Revolving Lines of Credit
We work with companies that may need more flexibility than factoring receivables. Friend Capital Funding will take a look at assets based off of their receivables, inventory, equipment and machinery, property as well as personal signature of owners.
The Advantages of Asset Based Lines of Credit
- A line of credit will provide a company with more cash than a bank loan. This is done by allowing a higher leverage on the company assets.
- A company gets quick access to cash. A line can usually be set up in 1-2 weeks. Then funding can occur within 24 hours of your request.
- A line of credit is very flexible. A company will draw on the line only when and for the amount you need.
- It is cost effective. A Company will pay interest only on the average daily outstanding balance.
- The interest rate provided is often low, usually the current prime rate plus a few points.
Asset Based Lines of Credit F.A.Q.s
What are the available credit lines?
Commercial credit lines are available from $250,000 to $50 million, based on a
company's specific needs and qualifications.
Are there any application fees?
Generally no. Lenders seldom charge application fees for this service and the
lender will generally assume all related administrative costs.
What types of interest rates can a business expect to pay?
It depends on the credit rating of your company. Preferred customers may receive
an interest rate that is similar to banks. Other companies, with lesser credit
may need to pay a little more.
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Friend Capital Funding 7603 First Place, Suite B12 Cleveland, Ohio 44146 |
Phone: (866)FRIEND-0 Fax: (866)839.3090 |