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Attention Bankers: Send Us Your Declines!
NorthFunding values its relationships with bankers. We do not compete with banks in any way because 100% of our business is factoring. In fact, as a banker, you will receive the following benefits from referring declined loan applicants to NorthFunding:
- Establish and/or maintain the deposit and general banking relationship with the referred client;
- Take back the referred client when referred client meets your lending criteria;
- Compete more effectively with your bank competitors that have factoring divisions;
- Offer a new product to customers without the hard work of building your own factoring business;
- Receive referral fees for your referrals;
- Help the referred client at its time of greatest need and gain a long-term customer.
NorthFunding can fund virtually any business with credit-worthy commercial and municipal accounts receivable, and principals that display integrity.
For example, NorthFunding provides funding to the following types of businesses that don't meet your criteria:
- start-ups/newer businesses
- businesses with cash flow issues
- businesses with limited or even negative net worths
- businesses that can't meet financial and leverage covenants
- businesses with tax problems (with appropriate IRS subordinations)
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"As a young company we had no track record to secure a bank line of credit. Then we learned about factoring from the commercial loan officer who referred us to NorthFunding and now we have the cash-flow we need to grow and thrive. Today we are doing great again."
Sylvester, Owner of Specialty Distributing Company
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