FastCash is more than just... fast cash. You're buying services that help you grow your business.
This chart shows how FastCash stacks up against traditional
factors and banks.
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FastCash
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Banks
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Traditional Factors
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| Available to Professional Service firms and small businesses? | |
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Yes | |
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Usually not. Banks don't want to lend money to businesses that need it. | |
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Usually not. They work with businesses with many clients that bill over $500,000 per month. |
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| Acceptance criteria | |
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Based mostly on credit quality of your clients | |
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Based on your assets, profitability, and credit history | |
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Based mostly on credit quality of your clients. Usually have volume requirements. |
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| Application process | |
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Short application, routine credit check. | |
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Lengthy application. Tax forms, accounting statements, and financial audits required. | |
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Tax forms, accounting statements, and field Examinations required. |
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| Impact on your customers | |
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Better client relationships! You no longer have to bother your clients with collection calls. We handle your clients with the utmost care. We also provide feedback on customer satisfaction. | |
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None | |
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Depends—some factors can be heavy handed with your customers. |
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| Protection from bad-debt loss | |
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Yes | |
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No | |
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Not always. Mostly None |
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| Long-term commitment | |
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No | |
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Yes | |
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Usually. Many Factors impose financial penalties to get out of a commitment. |
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| Minimum dollar volume requirements | |
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No | |
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Yes. Banks will charge a commitment fee for unused loan balances. | |
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Usually. Many factors charge a minimum monthly fee. |
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| Manages your credit and collection | |
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Yes, FastCash will run credit reports for free, and our professional and courteous staff will make collection calls. | |
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No | |
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Yes |
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| Daily reporting of accounts receivable | |
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Yes | |
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No | |
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Sometimes |
Copyright Aquent 2002
