ASSET-BASED LENDING AND FACTORING
Through New York Credit,
BANKS CAN NOW OFFER THEIR CUSTOMERS ACCOUNTS
RECEIVABLE FINANCING AND FACTORING SERVICES
NEW REVENUE TOOLS FOR SMALL TO MID-SIZE BANKS
In the past, if a customer needed an accounts receivable or factoring line, a banker would refer the customer to a factor or other specialized financial institution. Now instead of losing that revenue, banks can offer their customers traditional accounts receivable financing and factoring services as an alternative source of financing compared to SBA and working capital loans.
With any one of NEW YORK CREDIT’s programs, a bank now has the chance to establish new business in a whole new market and earn between 6 percent and 30 percent. NEW YORK CREDIT acts as the back-office support, so there are no start-up costs—no need to hire additional personnel or purchase new computer equipment.
The Benefits of Using NEW YORK CREDIT’s Factoring and Accounts Receivable Financing Services
Increased loan volume.
Increased depository relations.
Increased interest revenue.
Fees and other lucrative revenue sources.
Size of the loan is not a criterion.
No start-up costs.
Why Banks Use NEW YORK CREDIT Collateral Audits
NEW YORK CREDIT provides collateral management from the initial steps of evaluation to the final stage of loan placement or liquidation.
NEW YORK CREDIT was founded by a former asset-based lender who understands A/R analysis.
NEW YORK CREDIT has experience. We've performed audits for the FDIC and for both large and independent West Coast banks and lending institutions.
Many banks use our services to enhance the collateral value of loans.
Many independent banks use NEW YORK CREDIT when there is no in-house staff to perform this function.
Lockboxes are a powerful cash management tool. A lockbox provides for timely processing of checks and prompt application of payments to all open accounts, garnering greater float savings.
As the third party, we receive payments by mail and deposit the funds directly into the payee’s bank account. When a borrower’s customer sends a payment to a secure location, the possibility of the borrower taking these funds is minimized. NEW YORK CREDIT works as checks-and-balances on the lockbox by fully handling the credit and collections for your business.