Welcome To Astra Funding
Your Working Capital Loan $ource
(925) 308-6360 (408) 255-6360
Having trouble getting sufficient working capital from your bank?
To help our Clients find the best source of working capital loans when sufficient funding is not available from their bank.
Our lenders offer a wide variety of loans tailored to provide the working capital needs of businesses of all sizes, in all industries, including retail, restaurant, medical, and construction.
We will diligently work for to our clients to find a lender that provides excellent service at a competitive rate.
Factoring - Turn your A/R into an ATM machine
What is Factoring?
Factoring allows B to B companies to use their Accounts Receivable as collateral. Loans approval is based on the quality of their receivables not on their credit worthiness.
Benefits of Factoring
Can I qualify?
Almost any business that has unencumbered, commercial Accounts Receivable can qualify. We fund all industries including construction, medical and legal.
What if I have been turned down by my bank?
Factoring was created to help companies just like you. Your financials do not determine if you qualify. Just as long as you have customers that pay their bills, you can get financing.
How long does it take to get the money?
Most accounts get initial funding within one week. Subsequent financing is usually available within 24 hours.
How much money can I get?
You can get up to 80% of your qualifying receivables. As your business grows so does your ability to get cash, without limit.
Is there any minimum monthly requirement or fees.
Most of our programs have no minimums. You are charged only for the money that you are advanced.
What is the interest rate?
You will be charged a discount fee similar to accepting a credit card. Fees are determined by the amount of financing and length of time until payment is made by your customer. Exact fees will be quoted to you upon receipt of application.
What if I have foreign customers?
We have lenders that specialize in international transactions. If they are established companies with a good credit history, these receivables can usually be factored.
What about Purchase Order Funding?
There are lenders that will provide loans to secure product from suppliers or to fund the manufacturing of your product. Purchase order funding, however, is a more complex process. The lender will require in depth information about your company, your supplier and your customer. Both you and your supplier must have a good track record. Most important is that you must have a firm purchase order from your customer that cannot be cancelled and the goods cannot be returned. Because of the risks involved, purchase order funding is more expensive than factoring.
Unsecured Term loans and Lines of Credit
We have now teamed up with the leading supplier of working capital loans available to brick and mortar companies including restaurants, hotels, automotive service, retail, dental, and more.
These unique loan products are specifically designed to meet the needs of business with annual revenue exceeding $120,000. Loans are available from $5,000 to $450,000 with no collateral, terms up to 24 months and without the need for tax returns and financials.
Your loan terms can be tailored to meet your needs including an interest only option.