Financing Programs
LEDGERED LINES OF CREDIT
Ledgered Line of Credit from $500,000 to $4,000,000
Coeur’s line of credit is a blend between a factoring facility and a bank line of credit. The qualification standards for a Legered Line of Credit are more rigorous than those for the Factoring Facility, and it is typically the best fit for clients borrowing over $500,000 with reoccurring customer sales.
Under the Ledgered Line of Credit, clients submit all their invoices to Coeur for record keeping but only borrow the amount that they need at the time that they need it. All collections are automatically used to pay down the line of credit (reduce the amount borrowed), which minimizes the client's interest expense. Interest is charged monthly in arrears on a floating rate that is indexed to the Prime Rate. Interest statements are sent to borrowers at the beginning of the new month and automatically assessed to the line.
Payments are made in the client’s name and directed to a lockbox account managed by Coeur. Payments are applied to the client’s account on the date of receipt (no float days).
PROGRAM HIGHLIGHTS
FACTORING
Factoring Facilities from $50,000 to $4,000000
Coeur’s factoring program enables clients to sell invoices (to Coeur) at a small discount in exchange for operating cash.
Traditionally, clients use factoring to meet payroll needs, fund growth initiatives, pay suppliers, hire employees, or manage short-term financial disruptions. In practice, a factoring facility is similar to an accounts receivable line of credit.
Coeur will advance clients 80-90% of the face value of the invoice at the time that the invoice is sold. Coeur will release the remainder of the invoice (cash reserve) once the invoice is paid minus the discount. Discounts are a per diem charge calculated against the amount of the invoice sold and how long the invoice was outstanding.
Payments are made in the client’s name and directed to a lockbox account managed by Coeur. Payments are applied to the client’s account on the date of receipt (no float days).
PROGRAM HIGHLIGHTS
EARNED BUT UNBILLED REVENUE FINANCING
As part of Coeur’s Ledger Line of Credit and Factoring programs, eligible services companies and government contractors can draw up to 85% of the value of completed unbilled work. Coeur’s Earned but Unbilled Revenue Financing program is utilized by companies that face constraints on how frequently they can submit their invoices. For example, some staffing and government contracts only allow vendors to submit invoices once a month making it challenging to keep up with weekly or bi-weekly payroll requirements. Under Coeur Earned but Unbilled Financing Program, companies can draw against their completed unbilled work to manage payroll and other working capital needs.
PROGRAM HIGHLIGHTS
TRANSPORTATION FACTORING
Coeur provides transportation factoring to carriers of all types through its sister company, CCT Factoring. CCT offers simple pricing with 100% advance rates and flat fees. In addition, CCT manages their clients’ billing process so they can focus on the road.
PROGRAM HIGHLIGHTS
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