This really applies to medium to large sized businesses. Factoring is often used synonymously with accounts receivable financing. Factoring is a form of commercial finance whereby a business sells its accounts receivables (in the form of invoices) at a discount. Effectively, the business is no longer dependent on the conversion of accounts receivable to cash from the actual payment from their customers, which takes place on typical 30-to-90-day terms. Businesses benefit from the acceleration of cash flow by obtaining cash from the factor equal to the face value of the sold accounts receivable, less a factor's fee.
How does AIM Business Capital help you do Invoice Factoring ?
- You send your invoices to AIM Business Capital.
- We verify that the product on the invoice was received by your client.
- You receive accounts receivable cash flow from AIM.
- The invoices are forwarded to your customers who pay us directly.
Credit Services
AIM assists you with credit decisions as your out-of-house credit department. Expand your business offerings without expanding your employee payroll with our comprehensive credit services. There's no need for managing your own credit department; we'll become your credit manager and work with you in determining credit for your customers. We will even help you in determining credit lines for customers you are considering doing business with.
Account Receivables ManagementAIM manages the accounts receivable invoicing process on all your factored accounts. The time you'll save with AIM as your accounts receivable back-office will let you focus on what's important, putting your creative energy into making your company grow and prosper. As your full-service accounts receivable factoring department, we handle all of the following daily accounts receivable tasks:
- Maintaining an efficient Remittance Process with your customers
- Processing and Posting invoice payments
- Status Checking on outstanding invoices
- Real-time alerts of disputes, returns and payment issues
- Complete Collection Services customized for you
- Customized detailed Management Reports
- 24/7 Online Access to all your account information through AIM’s online Account Management System
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