Committed to finding more ways to say “yes,” The Southern Bank is pleased to offer factoring to its business to business clients. Experience the same fast, flexible funding you would get from an independent financing company, but with the comfort and trust of working with an FDIC regulated bank.
The New Normal
The expression "cash is king" resonates more today than ever. Customers at every level of the supply chain are stretching suppliers with longer payment cycles as they continue to focus on protecting their own cash reserves.
More and more companies face cash crunches that prevent them from paying employees, filling new orders, purchasing equipment, meeting debt obligations, pursuing growth, and sustaining operations.
Where Did All the Banks Go?
For many businesses, traditional banking products are not the answer. Under increased regulation and tighter credit requirements, banks are forcing many companies off their books and telling them to look elsewhere for capital.
So, now what?
The Options Can Be Overwhelming
With hundreds of independent financing companies out there, business owners are overwhelmed with unfamiliar names, rate structures, contract terms, fees, etc. A good financing partner can provide an avenue for growth, a bad financing partner can put a company out of business.
Business owners don’t want their customers to put them out of business, but they also don’t want to be exploited by aggressive, under-regulated lenders.
Don't Go It Alone
Factoring, or Accounts Receivable Financing, is a fast, effective means of infusing a business with cash. As an FDIC regulated bank, The Southern Bank’s factoring program provides a cheaper, faster, and lower risk source of funds than most independent financing companies.