BusinessManager is Clear Mountain Bank’s accounts receivables financing program, which can help you grow your business with improved cash flow.
BusinessManager puts your operations on an all-cash basis by providing working capital for your receivables. By bridging the gap between your payables due now and the receivables your customers won’t remit for 30 days or more, this program positions your company to:
- Improve cash flow — with predictable cash flow, you can make payroll, remit payables on time, increase inventory, and pursue new business opportunities.
- Offer financing options to your customers — sharpen your competitive edge by offering flexible payment terms.
- Improve collections — you can use the bank’s presence on customer correspondence, reducing bad debt.
- Save time and money — take advantage of prompt pay discounts from suppliers and get back to doing business.
- Manage your operations — track receivables with detailed reports, reduce debt, maintain a liquid working capital position, and prevail in seasonal fluctuations.
How does BusinessManager® work?
- The bank purchases your accounts receivable at a discount, both initially and on an ongoing basis, as new receivables are generated.
- Funds are deposited into your account, giving you the positive cash flow you need.
- Using BusinessManager’s electronic commerce feature, you then exchange receivables information quickly and easily with Clear Mountain Bank through a secure internet site.
- You also gain access to detailed management reports with important information on aged receivables, customer balances, credit applications and more.
To learn more about BusinessManager, contact one of our Commercial Lenders or call your nearest Clear Mountain Bank location.