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Get Immediate Cash for Your Accounts Receivable
Do you find yourself stressed out over the never ending struggle to meet your obligations on time?
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Use Your Energy to Generate Profits
This is an innovative program with the flexibility you need to grow your business. Virtually any business that generates an account receivable can qualify regardless of their financial condition:
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- Start Ups
- Rapidly growing businesses
- Businesses rebounding from difficult times
- Businesses that need assistance with credit, collections, and reporting
Thousands of entrepreneurs like you have started and/or grown their businesses with a program like this one.
Numina Finance was founded in 1995, and is owned in part by First State Bank Central Texas.
Examples
A
manufacturer in Minnesota was struggling to rebound from declining sales and mounting losses...
A manufacturer in Minnesota was struggling to rebound from declining sales and mounting losses. The situation created a very stressful relationship with their lender and limited their ability to obtain the working capital needed to obtain raw materials and meet shipping schedules. Numina Finance proposed a combination factoring program and a restructured term note to replace their existing lender's facility. Initially the company thought that factoring might send the wrong signal to their customers and that the cost would be prohibitive. However, after demonstrating that the program would enhance their ability to obtain the cash needed to pay suppliers in a timely manner and thus enable them to deliver more product on time the positive effects of the program became apparent. After a little over a year on the factoring program the company had fully recovered from tough times, mended relationships with suppliers, and above all managed to retain its customer base. As a result, Numina Finance has converted them to a conventional lending relationship with a larger line of credit than their previous lender had granted them.
An Austin, Texas
engineer had a desire to start his own business...
An Austin, Texas engineer had a desire to start his own business. He was encouraged by the opportunity to bid on certain government contracts that could get him his dream off the ground. Even though he would be a start up operation his reputation enabled him to land several of those contracts. It then became apparent that he would need more cash than he had saved to meet expenses that would come due before his invoices were paid. An investor he knew offered to contribute cash to the venture in exchange for a 25% interest in the company. His banker suggested that he look at factoring as an alternative rather than paying the investor 25% of all future profits. Further, in the event he would need more cash to support future growth he would not have cured his problem with a one time infusion by the investor. He chose factoring and after approximately nine months on the program he was so successful that he was able to self fund his future needs. He later stated emphatically that factoring was the best choice for his business and that he would have probably paid the investor twice what he paid Numina Finance in the same time frame, plus have to continue sharing profits with him in the future.
Fighting forest fires requires deploying a
food service team that can set up in remote areas to feed fire fighters. A Phoenix, Arizona company had substantial equity...
Fighting forest fires requires deploying a food service team that can set up in remote areas to feed fire fighters. A Phoenix, AZ company had substantial equity in trucks and equipment but could not obtain the type of loan that they needed from a bank to support their cash needs when they are dispatched to a fire. Failing to prepare a meal for fire fighters in the middle of the battle was not an option; therefore, our client had to have a ready source of cash to pay food suppliers, employees and travel costs. Factoring was the perfect solution for a business that needed access to cash on a seasonal basis without credit limits.
Factoring Facts
"Factoring" is the purchase of accounts receivable at a discount to provide clients with the access to immediate cash that they need to operate their business.
Benefits include:
- Improved Cash Flow: Cash is readily available to meet operating expenses, take advantage of vendor discounts, purchase additional inventory, etc.
- Credit Service: NFSC will serve as your credit department by approving credit and establishing credit limits for your customers.
- Collections: NFSC will collect the obligations of your customer. You will be relieved of the time consuming responsibility of processing payments and contacting past due accounts.
- Reports: NFSC will provide you with valuable management reports such as invoice and collection reports, and aging reports of outstanding invoices.
General Terms include:
- Advances: A typical advance is 80% of the invoice's amount made at the time of purchase. The advance rate could be lower or higher depending on the industry, invoice terms, credit quality, etc. A reserve is held until the invoice is paid to provide for returns, allowances, discounts, etc.
- Notifications: Customers are notified that NFSC has purchased the invoices and are
directed to pay NFSC.
- Verification: Invoices purchased by NFSC are subject to verification for validity
and accuracy by contacting the customer.
- Invoice Purchases: Invoices are purchased by NFSC on a recourse basis.
- NFSC's Fees: NFSC's fees are negotiable and are based on the volume purchased, your customer base, and the length of time the invoices are outstanding.
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