Accounts Receivable Financing

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Amalgamated Bank has teamed up with Newtek, "The Small Business Authority," to bring you the best in class solutions for your business.

Newtek Business Credit is a full-service commercial finance operation delivering cash flow and related solutions to small and middle-market businesses across the country. As a non-bank enterprise, business credit is distinguished by its flexible facilities, ranging in size from $50,000 to $1,500,000. Funds may be used to satisfy a range of business needs, including:

  • Working capital purposes
  • Meet payroll needs
  • Take advantage of trade discounts
  • Extend credit to customers
  • Fuel business growth
  • Pay taxes

The approach Newtek employs is that of a partner, your partner. Newtek makes an effort to understand the individual needs of every client, and to support and service those needs through a professional staff that values every relationship.

Services

Receivables Financing:

Start-up and existing businesses alike can always benefit from improved cash flow. Newtek's financing program provides you with capital today, on outstanding balances (receivables) due from your customers.

Receivables Management:

As an additional service provided to clients, Newtek will monitor collection activity from your customers, which includes detailed reporting, allowing you to improve collection time while reducing bad debts.

Credit Protection:

Clients will also benefit from Newtek's credit protection program. Newtek assumes the credit risk on accounts that are approved and financed. They investigate and monitor the credit worthiness of your customers on an ongoing basis.

Billing Services:

Newtek provides a complete paper-based billing service for both financing and non-financing clients. They will print and mail statements to your customers detailing account activity and balances. This service also affords you the opportunity to include advertisements or promotional materials along with the statements.

 

The Benefits of Accounts Receivable Financing

Continuous Source of Operating Capital

Unlike other types of financing, A/R financing focuses on your sales, not your balance sheet. As sales increase, more working capital becomes available to meet the demands of operating your business. Accounts Receivable Financing provides a continuous, long-term source of funds on a short-term basis.

Early Payment Discounts

A/R financing can provide you the funds necessary to pay suppliers early and receive discounts.

Volume Discounts

With more working capital available, you can buy in larger quantities and save money through supplier volume discounts.

No Debt

Because A/R financing is not a loan, no debt is incurred, making it easier to obtain other types of financing.

Better Credit

A/R financing allows you to pay taxes and bills on time. By establishing a good credit rating, you may qualify for better terms from suppliers and on loans.

Quick and Easy Funding

The A/R financing application process typically takes less time and effort than other forms of financing.

The Ability to Focus on Company Growth

A/R financing frees up valuable time and resources spent in collections, administration and bookkeeping, so that you can focus on increasing sales and expanding your company.

Access to Reporting

Our A/R financing program provides you with detailed reports that help you track customers' invoices and payment history.

 

Why Finance My Receivables?

Instead of waiting 30, 60 or 90 days to be paid by your customers, Newtek provides you with capital today to meet payroll, take advantage of vendor discounts, hire additional staff, improve your credit rating, pay taxes, or to fulfill many other needs.

What types of receivables are eligible for financing?

Unlike other companies, Newtek will finance both business-to-consumer receivables as well as business-to-business receivables. In order to be eligible, the goods or services must be delivered or completed, and accepted by a U.S.-based customer.

Will financing my receivables jeopardize my relationship with my customers?

No. Accounts Receivable financing is a widely used and accepted form of financing your business. Further, Newtek keeps direct contact with your customers at a minimum.

What types of businesses will Newtek work with?

Newtek will work with start-up and existing businesses alike, located anywhere in the continental United States. Many clients are in the following industries:

  • Temporary Staffing Agencies
  • Wholesalers/Distributors
  • Manufacturing Companies
  • Janitorial Maintenance Companies
  • Limousine Companies
  • Magazines and Related Publications
  • Security Guard Agencies
  • Printing Companies
  • Pharmacies
  • Hardware Stores
  • Florists
  • Dry Cleaners

Why should I work with Newtek?

Newtek has been providing services to clients across the country since 1972. Their experience and track record make them an invaluable resource to our clients. Regardless of your situation, chances are Newtek has worked with others in similar circumstances.

Does Newtek work with businesses that may be struggling?

Yes. Newtek specializes in working with businesses that cannot obtain credit elsewhere, whether it’s because of losses, deficit equity, poor personal credit, or other reasons. Newtek's goal is to understand your situation, and work with you to get through the tough times.


The Small Business Authority® is a registered trademark of Newtek Business Services, Inc., and neither are a part of or endorsed by the U.S. Small Business Administration.

These products and services are provided by an unaffiliated institution, Newtek Business Services. These products and services are not provided by Amalgamated Bank and Amalgamated Bank will not have any input concerning such products and services. Newtek Business Services is not an employee or agent of and is not affiliated with, Amalgamated Bank. Amalgamated Bank is not responsible for these materials, the content contained herein or any of the products, services or advice offered by Newtek Business Services. Amalgamated Bank will receive a referral fee from Newtek Business Services if the client referred by Amalgamated Bank enters into a transaction with Newtek Business Services.