Commercial Lending – Asset Backed Lending
Amplify has partnered with the Commercial Finance Group (CFG) to provide an asset backed line (ABL) financing option. Based on receivables, CFG is able to offer credit lines that are typically in place within two to three weeks. They CFG work with businesses in the B2B space with annual sales of $250,000 to $50 million and are able to scale the facility with the minimum of hassle.
These facilities work well where the receivables are high quality, but it just takes a while to collect. By way of example, lets say you have an 85% “advance rate” (amount you can borrow against any invoice), CFG will advance that % of an invoice date, and then when the invoice is paid by the client, the balance will be paid to you.
They have helped thousands of companies with various challenges during he past 40-plus years, since being founded in 1974, and have an especial expertise in the legal space. From working with court reporting agencies (on RB or Solaria) to other industries in the space, they understand the payments cycle and the pressure you are under, understanding differences between payrolls (whether having to fund reporters or employees) and payment cycles of clients.
As such, in conjunction with Amplify, they have developed a straightforward application and document request process to provide a process that can be closed within 5 business of all information being received.
The process to move forward is straightforward:
- Sign up below, providing basic contact information that will be held confidentiality, an application will be emailed to you, please complete and email back to the provided email address – together with: current receivables by client, current income statement and balance sheet.
- Within 24-48 hours you will receive a follow up communication from CFG.
- All information is held confidential between you and CFG.
AR Process and Management
While the process below, it is a significant part of the value add of the ABL offered by CFG, there is also the option for clients to utilize the CFG skill set to run and manage your credit and collections department.
Outside of whether you wish to utilize the ABL services, CFG is able to handle all functions of a credit and collections department, from running credit checks on new clients, making collection calls (on a pre-agreed schedule with you), to ensuring issues are dealt with, they form part of your team.
For more information, simply follow the link below and you will be contacted within 24 to 48 hours.