应收账款融资方案外文翻译.doc

外文翻译 原文 Accounts Receivable Financing Programs MaterialSource: /accounts_receivables_leveraging.htm Author: Ronald J.Adkisson The concept of financing accounts receivable is simple enough. A simple interest-only loan, secured with a UCC-1 lien, is made against the value of the accounts receivable of a business. The loan proceeds are distributed to the business owner who invests them into either an annuity contract or life insurance policy. The lender may also take a lien against the annuity or life insurance policy as additional security. Accounts receivable financing has two primary goals. One goal is the financial goal of generating additional income by arbitraging the compounded tax-deferred gains earned in the annuity or life insurance policy against the simple interest paid on the loan against the receivables. The other goal is to protect the accounts receivable by effectively “equity stripping” the asset by way of the UCC-1 lien. On the financial side, these programs have the chance to create significantly more money for a business owner than if he did nothing. On the asset protection side, these programs offer to remove from a creditor’s reach what would otherwise be a very easy asset to collect against. Another way to look at these programs is that they offer “free” asset protection and some profits too! Several programs now offer accounts receivable financing, and new programs are coming on line at a monthly rate. Life insurance agents and financial planners, motivated by the prospects of juicy commissions generated from the sale of the annuities or life insurance policies, are rapidly being mobilized to take these programs to their clients. But do these programs really work? And is the program right for all businesses? Beware the Hidden Dangers The truth is that accounts receivable financing can work but at least several things must occur for these programs to work successfully for the business owner. Note, howev