AmeriSource is a well known brand name that helps such businesses acquire working capitals in order to meet such short falls in their daily cash flows. This type of lending that they do for such businesses is asset based lending, through which Amerisource uses the businesses account receivables or those assets which have not yet been realized in cash, as a collateral and helps the business by giving them the cash against their own collectables.
All businesses need some sort of financial assistance at some point or another. Most businesses require abundant working capital in order to meet their day to day requirements. Lack of cash flows can force even the most profitable ventures out of business. The means of getting adequate cash flows are never enough, especially if the business is new.
AmeriSource has been around for more than thirty years and has quite a lot of experience in the field of business and financial solutions. They have been financing America’s fastest growing companies all over the nation very successfully.
The company came into being back in 1984 in Houston, Texas and it was formed after there was a realization about how important is working capital for a business. So AmeriSource has been providing working capital solutions and cash flows all over America to small sized as well as medium sized businesses and doing asset based lending and outsourcing of their account receivables against which they provide them with the necessary funds. AmeriSource has realized the importance of having cash flows in hand and the importance of cash in hand and thus decided to help businesses tackle the problem of liquidity and to provide them suitable solutions for that.
AmeriSource is quite a stable company that is still going strong and doing well, with capital ratios that exceed the industry norms. Moreover, they have been able to provide the cash flow solutions against their receivables for over 1,500 companies all over the United States as well as in Canada and have provided financing for around $6 billion to different customers to date. Their unique approach of asset based lending and account receivable management has been the cause of their tremendous growth and success.
Furthermore, AmeriSource is still growing and still expanding their business with continuous innovation and research and technology. Their list of customers includes a long list of success stories and many famous names.
Reasons for popularity of AmeriSource
Over the years AmeriSource has grown to become a well known name in the financial industry. They are known to provide safe and secure options to companies who have no other options for borrowing. Most of the small businesses do not even know whether such an asset based financing is even possible. Moreover, the services that AmeriSource provides their clients are also one of a kind that makes them keep on coming back.
AmeriSource is quite client focused and their main aim and priority is always the customer first. In fact the whole organization is build around the attitude of clients first. They interact with the customers in such a way in order to earn their business every single day. Moreover, AmeriSource works on not just basic transactions between themselves and the customers but goes a step further to build relationships with their customers that are long term. Amerisource is committed to an entrepreneurial style of relationship with their customers with mutual respect and trust.
Award Winning Service
The services that are offered by AmeriSource is no doubt one of a kind and the best in the industry.
- They have an expert relationship manager that is assigned to each individual customer
- They provide 24/7 online access to the customer account and all reporting is done through the cloud
- The reporting may also be specific to something, depending on the needs of the business
- Lockbox services free of cost
- They offer free of cost reviews of the new as well as for the existing customers and free credit investigations
- There is no need for long term commitment or closing fees or financial covenants at all
Regional Market Managers
Since AmeriSource has their offices all over the nation, they are able to cater to the needs and the requirements of each individual no matter where they are through the help of their regional market managers who are highly trained and experienced in this field. They can help the customer make informed decisions regarding their financial positions.
AmeriSource has another great feature: that their clients are here to stay! Most of their clients have an average tenure of more than fifty months that is almost the double in amount of the industry norm and standards.
AmeriSource has withstood the test of time, having been around for so long. This way they have established themselves as a stable, safe and secure and trustworthy name in the industry. Moreover, with their capital ratios exceeding the average industry norms and with around $200 million in committed lines of credit actively, it can be said that AmeriSource is here to stay.
AmeriSource is extremely keen for maintaining the security and safety of the customers and they have a dedicated data security and service continuity system in place. The entire customer documents are maintained in the office storage in their electronic storage as well as physical data is maintained in their corporate head quarters. These steps have been taken in order to ensure the client’s confidentiality as well as to build their trust.
From the U.S
AmeriSource is purely from the United States. They are proud to state that they are from the U.S and are working in the U.S without having any foreign investors or having foreigners stake in the company. They have been around for more than thirty years and are proud to be made in the USA!
Amerisource firmly believes in “the freedom to grow” which is their motto and their belief which applies to all their stakeholders whether they are employees, clients or the investors. They believe in growing and helping other to grow with them by providing them with the right kind of guidance, customer support and of course the financing, when it is needed! It is then, of no surprise that Amerisource has become one of the most popular names in the nation for financing many businesses and helping them grow.
Financial Products and Solution
AmeriSource has a large variety of financial products which are available for lending to the customers. Whether the business is large or small or middle market business, AmeriSource specializes in providing asset based lending and they also provide outsourcing the management of account receivables (A/R) and collection as well as credit support related services. The main products and financial solutions that they offer are:
ABL – Asset Based Lending
This type of lending is also known as secured lending and it usually backed by an asset. This is a great option and a solution for a business to use in order to meet their day to day cash flow requirements and to acquire a loan against. The main features of this financial product are:
- It is governed by a borrowing base
- The credit facility that is offered by AmeriSource varies from $500,000 to $15,000,000
- It is possible for advance rates 85% of the Account receivables that is eligible
- There is availability of short term commitments
- The approval process is easy and quick
A/R – Account Receivable Financing
This type of financing is where AmeriSource may offer to lend to a business based on their account receivables or the funds that they are expected to receive from their debtors. The main features of account receivable financing are:
- The advance rates can be till 90%
- The credit facilities which are offered are from $50,000 to $15,000,000
- There is no minimum amount for funding
- There are no field audits or contract term requirements
- The process of approval is easy and quick
The typical situations where A/R Financing is required:
- Small companies or middle market firms which are experiencing high growth
- Businesses which may be having cash flow problems during their transition or turnover
- Lenders might be keen to reduce their exposure
A/R Factoring and Asset Based Lending benefits for the client
- The cash flows help to fund the growth, or can be used to refinance the debt that exists or to make payments that are already due or for various other working capital needs.
- The credit limit is floating in order to maximize and facilitate the sales growth
- It helps the clients to take advantage of the supplier’s discounts
- It helps them to increase their returns on their equity
- It allows the business to stay updated with their payments
- The client gets to have 24 hour access to their own secure account online
Benefits of Factoring for a Business
- It gives them access to funds when they do not have access to the traditional financing that is provided by the banks
- The business can only take a loan against their actual sales that they expect, this helps them keep a check on their debts and does not reflect adversely on their balance sheet
- Amerisource checks the clients list of customers as well in order to see whether they are credit worthy or not
- Amerisource supports the company in their credit collection, if there is a need for it
- Factoring helps a business to venture into new businesses and target as well as accept new clients who are credit worthy, without worrying about the credit
Outsourced A/R Services and Credit Protection
This is yet another financial solution that is provided by AmeriSource for the business which helps a business in the following ways.
- It helps to avoid bad debt losses as well as to avoid write offs
- It provides an ongoing monitoring of customers as well as their credit analysis and their credit investigation as well
- It provides account receivable reporting and management
- They provide courteous as well as professional account receivable collection services
Term Debt Facilities
Other financial products and solutions such as the term debt facilities are also available for customers which have the following features.
- They have to be secured by machinery or equipment or by real estate or by any other fixed assets
- The amortizations can be different and may vary, depending upon the credit parameters
DIP – Debtor in Possession Financing
This type of a financial solution has the following features and functions.
- These facilities are available for financing from $100,000 to $15,000,000
- It helps to reduce the legal fees and to make the process of the bankruptcy and court approval process faster
- It helps to reduce the delay and speeds up the process of navigating
L/C – Letter of Credit
AmeriSource also offers this financial solution in the form of opening L/C or letter of credit which is a very important document, especially for international trade.
- They open Irrevocable letters of credit, that guarantees a payment to be made to the vendor for their particular shipment
- Amerisource can issue a guarantee to make payments to the customer’s supplier in standby vendor guarantee
- They also have Letter of Direction that lets a customer drop ship their products from suppliers that are foreign directly to the customer’s end user
- They also have standby by Letter of credit (l/c) which means it is open, or on a stand by for a specific time period
Why choose AmeriSource
AmeriSource is a great option and a solution for a business to meet their financial requirements. It caters to all sizes of businesses and small businesses in particular are the biggest clients since they are more comfortable dealing with Amerisource than with the traditional financial institutions. Most businesses choose to do business with AmeriSource for a variety of reasons such as:
They are flexible
AmeriSource tries to understand the needs and the requirements of a business and provide them with the most suited product. They are able to customize their products and offerings in order to meet the customer’s requirements and tailor their financial solutions to fit the needs of the customer’s cash flow. Moreover, at AmeriSource, there is no need for any minimum amount of financing nor are there any long term contracts or early termination fees that customers ought to pay.
They are responsive
AmeriSource has a team of experts which are there to guide and to help the customers in all aspects, whenever they need help and assistance from them. Their account managers are responsive and are highly trained in the field. AmeriSource makes sure the customer’s business is flourishing under their care and make sure they provide the leading customer services and the best financial assistance.
They are financially strong
AmeriSource is ranked as one of the largest independent companies in finance in the nation. They have over thirty years of business experience in this area and they keep conservative approach, where they can respond and take action quickly to the needs of the clients. Moreover, their aggregate or the average write offs of the bad debts are less than 0.07% which is a great figure.
AmeriSource has a dedicated customer support to help the customers with whatever issues they might have, whether before acquiring the loan or after the loan. Whether it is to understand the concept of the lending or the terms of the loan, the customer support is there to help and guide them through out their journey.
Moreover, AmeriSource also have financial managers who are expereicned and experts in their fields and they provide guidance and support to the business and to help them come up with their financial requirements and help them to make informed decisions regarding their cash flows and their working capital requirements.
Majority of the customers of AmeriSource have been really pleased with their experience with working and dealing with them and thus have been working with them since years. Most of the customers have shared positive reviews about AmeriSource on their website and shared their success stories as well. They have praised the whole process of acquiring the financial products and lending from AmeriSource as being quick, easy and simple and have commented on helpful the whole process was.
Customer have appreciated the personalized services that are offered by AmeriSource to their clients where they help them to choose the right type of product that is suitable for their business requirements and the guidance they have provided.
AmeriSource is the answer to the lending requirements that are faced by many businesses nowadays. They cater to all business in almost all across the industries and sectors. Their process is simple and easy which makes them approachable for loans and lending products. Moreover, they give loans against the collaterals given by the businesses in the form of assets or their receivables. This makes the process easier for both parties who work together to their mutual interests and benefits.
Amerisource has a team of experts and a dedicated customer support system that helps the clients to come up with terms that are suitable for both which makes it simple and easy for the clients. Amerisource is catering to a different type of a market and this is a different concept of lending in which they have become leaders and so it is of no surprise that many of their businesses are repeat customer