Accounts Receivable Lending
Refinancing your co-op balances at an affordable rate
CCC's accounts receivable lending can be a great tool to help both cooperatives and their producers.
CCC will work with the producer to create a payment plan to refinance their account with the co-op. This benefits both parties as CCC works to put the co-op in a best-security position while working with the producer to come up with a feasible plan to get the balance paid and no longer pay a default interest rate at the co-op.
Example: A producer has a past-due balance with the co-op. CCC provides a loan to the producer that pays off the producer's past-due balance with the co-op and terms out the balance with monthly/annual payments. CCC files a blanket UCC filing along with whatever additional security it can achieve – thus, ultimately improving the cooperative's security position. Simultaneously, for the producer, they now have a legitimate repayment plan and no longer are paying a default interest rate.
To learn more, contact Brice or Seth at 1-800-681-1975.