Small Businesses Turned to FTRANS for Alternative Financing in 2009

ATLANTA — FTRANS, a leading provider of accounts receivable and credit management solutions, today announced its growth figures for the 2009 fiscal year. The company experienced a 27 percent year-over-year revenue growth, despite the economic crisis that froze the financial services industry. FTRANS also added more than 60 small-to-medium sized (SMB) B2B customers in 2009 that sought alternative financing and credit solutions as banks stopped lending and credit lines became harder to obtain. FTRANS helped customers access the cash necessary to keep their businesses alive and growing by outsourcing their accounts receivables and managing their credit.

FTRANS offers accounts receivable and credit management solutions to B2B companies in a variety of industries. With FTRANS, businesses typically get paid on invoices within 3-4 businesses days instead the average of more than 50 days. FTRANS facilitates individual, asset-based lines of credit – both internally and through local and community banks – so SMBs have access to the capital they need to sustain their businesses and grow.

"Alternative financing options have become extremely important for small businesses in the face of the economic crisis, and we’re proud to have helped our customers position themselves for growth in 2010," said Dan Drechsel, CEO of FTRANS. "When banks aren’t lending, it’s imperative that businesses have the cash-on-hand to sustain a drop in sales or nonpayment from customers and that’s what we provide."  

FTRANS partially attributes its growth to a strategic decision to integrate a credit scoring model into its service offering in mid 2009. With the credit scoring model, FTRANS is able to analyze the financial standing of its customers’ buyers in order to better ensure payment on outstanding invoices. Scoring the credit risk of each customer helps small businesses and FTRANS make informed decisions on which of those customers are credit-worthy.

About FTRANS
FTRANS Corp., located in Atlanta, GA, provides innovative technology solutions for businesses and financial institutions.  We provide a complete accounts receivable and credit management solution which enables businesses to operate more efficiently and with greater access to capital.  From payment matching and account reconciliation to credit approvals, access to capital, and collections – FTRANS has the tools businesses need to achieve superior business results.