What is Flexent for Accounts Receivable Financing?

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Flexent from Chesapeake Bank helps you turn cash needs into cash flow. Flexent is a division of Chesapeake Bank that can help you make up for slow paying receivables and get the cash you need for operating capital, expansion capital, inventory financing, improved cash flow and more. With smart and convenient accounts receivable financing, Flexent helps you run your business more efficiently and profitably.

 Program Benefits:

• Helps grow the company with quick access to cash
• Works with larger, slower paying customers
• Choose flexible amounts
• Builds better relationships with vendors
• Runs the business more efficiently and profitably
• Pursues new business opportunities
• The fee for Flexent is usually less than what it costs a business to accept credit cards for payment
• No need to give up equity in your company.

How does it work?

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Accounts Receivable Financing

If you have invoices out, you can get cash in quickly with Accounts Receivable Financing. Once you are approved for the program here’s how it works:

• Simply send Flexent a copy of your invoices and, if you qualify, we’ll advance you cash (80%-90%), usually within 24 hours.
• Our team will manage the process and provide daily reporting of invoices funded and payments received.
• Once payment is received in our lockbox, the reserve amount is released back to you on a regularly scheduled basis, less any accrued fees.

Asset-Based Lending

If you want to save time and money accessing cash, Asset-Based Lending is a great alternative to traditional borrowing. These lines are secured by your company’s accounts receivables and inventory. For needs of $500,000 to $4,000,000 plus, we can advance businesses 80% to 90% of accounts receivable and up to 50% of that amount on inventory.

The benefits of Flexent Asset-Based Lending include:

• Quick access to cash, with a true Asset Based Loan.
• Competitive rates that help you save on interest and fees.
• Flexible draw amounts — just access what you need.
• No need to give up equity in your company.
• Competitively priced.