SLR Business Credit, part of SLR Investment Corp., offers factoring, asset-based lending and working capital financing, and bought Webster Bank's factoring business in 2024. Brands set SLR up as a factor in AIMS360 and run approvals and invoice assignments from the order flow.
SLR Business Credit lends against receivables, inventory and equipment, and offers invoice factoring alongside asset-based lending. In September 2024 it bought Webster Bank's factoring business, which moved Webster's factoring customers to SLR. Here is how SLR fits into the factoring workflow in AIMS360.
Yes. You set SLR up as a factor in AIMS360, mark the customers it factors, and run the same workflow as with any factor: orders out for credit approval, decisions recorded on the order, invoices assigned to SLR in batches, and SLR's statement reconciled against your receivables.
SLR is not one of the factors AIMS360 documents an electronic file exchange with. For a factor in that position, AIMS360 produces the approval request and the assignment as Excel reports to send, and your team applies SLR's decisions to the orders in bulk. If SLR can take an electronic file, raise it with your implementation team. Advances, fees and credit decisions stay between you and SLR.
From SLR's own site and its September 2024 announcement. These are its figures, not AIMS360's.
| What SLR publishes | Detail |
|---|---|
| Company | SLR Business Credit, a portfolio company of SLR Investment Corp. (Nasdaq: SLRC) |
| Financing | Invoice factoring, asset-based lending, accounts receivable and inventory financing, term loans and equipment financing |
| Offices | Full-service locations in Princeton, New Jersey; Minneapolis; Salt Lake City; and Sherman Oaks, California |
| Who it lends to | Manufacturers, distributors and wholesalers, service providers, and digital media companies |
| September 2024 | Closed the purchase of the factoring portfolio and operations of Webster Bank's commercial services division, about $115 million in loans |
What to change in AIMS360 when your factor changes name, so the next invoice tells the retailer to pay the right party.
If you factored with Webster Bank, or with Sterling National Bank before it became part of Webster, your agreement may now sit with SLR. SLR closed the purchase of Webster's factoring portfolio and operations on 27 September 2024.
In AIMS360, create the SLR factor record, then use a global factor change to move every customer from the old factor to SLR. The same change can update their orders on hold.
The assignment notice printed on factored invoices must name the party the retailer should pay. Paste SLR's remittance wording into the factor record before the next invoice run.
The factor and customer export lists every customer assigned to a factor, or every customer you have, so SLR can review the accounts it now carries.
Seven steps in AIMS360. The reports go to SLR in the format it asks for.
Each customer whose invoices go to SLR carries that factor on its account. Moving a group of customers to SLR, or back to house, is one global change, with an option to update their orders on hold.
In the credit approvals screen, pick SLR and select the orders that need approval. AIMS360 exports the approval details to Excel, and you send them to SLR in the format it asks for.
When SLR answers, the decisions go onto the orders, by hand or in bulk from the same screen, and approved orders move from hold to open.
A decline either cancels the order or leaves it on hold, set once on the factor record. Most brands pick hold, so someone can call the customer about a deposit, a card payment or a smaller order.
Invoices are raised from what shipped. A factored invoice prints the factor's assignment notice, up to 400 characters, and factored invoices can run in their own number range so they are easy to pull.
In factor assignments, pick SLR and create a new assignment from the invoices not yet assigned. Export it to Excel and send it with PDF copies of the invoices and any cover page SLR requires.
When the factor's statement arrives, payment reconciliation matches it against your invoices, credits and chargebacks, with the statement total as the control figure.
These settings let factored and house business share one order flow.
| Setting on the factor record | What it does | Why it matters |
|---|---|---|
| Factor code and contacts | A three to five character code plus SLR's details | Every factored order, invoice and report is filtered by it |
| Decline action | Cancel the order, or hold it | Hold keeps the sale alive while you find another way to get paid |
| Assignment notice | Up to 400 characters printed on each factored invoice | Tells the retailer to pay the factor, not you |
| Auto pay invoice | Marks factored invoices paid when they are raised | The factor collects, so the receivable is theirs to chase |
| Rejected chargebacks | Become a house debit memo by default, or stay factored | A disputed amount usually sits between you and the retailer |
| Pay invoice link | Turn it off for factored orders | Stops a card payment link going out on an invoice the factor owns |
| Release orders | Off by default; turn on if the factor approves child orders | Most factors approve the bulk order, not each release |
Done with your AIMS360 implementation team.
Ask SLR how it wants approval requests and assignments sent, what its invoice notice must say, and whether it limits invoices per assignment.
Add SLR as a factor with a three to five character code and its contact details.
Choose hold or cancel for declined orders, paste SLR's remittance language into the assignment notice, and decide on auto pay.
Create terms such as Net 30 Factored next to Net 30 House, so factored orders stand out in every report.
Assign SLR to its customers one by one, or move a group from a previous factor with a global change.
Export an approval request, apply SLR's decisions in bulk, invoice, and send the first assignment with invoice copies.
Yes. SLR is set up as a factor in AIMS360, and approvals, assignments and statement reconciliation run through the same factoring workflow as any other factor.
SLR is not on the list of factors AIMS360 documents an electronic file exchange with. Approval requests and assignments go to SLR as Excel reports, and decisions are applied to the orders in bulk. Ask your implementation team if SLR can take an electronic file.
SLR Business Credit bought the factoring portfolio and operations of Webster Bank's commercial services division on 27 September 2024. Check your notices from Webster or SLR to confirm where your agreement sits.
Create the SLR factor record, then run a global factor change to move the customers. The same change can update their orders on hold, which then need SLR's approval.
In the credit approvals screen, select SLR, tag the orders on hold that SLR approved, choose approve, add the approval date and number, and apply. Approved orders move from hold to open.
By default a rejected chargeback on a factored account becomes a house debit memo, since the dispute sits between you and the retailer. A setting keeps it as a factored debit memo if your agreement with SLR says so.
Yes. The factor is set per customer. SLR's customers go through approval and assignment, and house accounts skip both.
SLR lists manufacturers, distributors and wholesalers among the companies it lends to. Whether it will factor your receivables is a question for SLR.
Bring a factored customer to a demo. We will set up the factor, send an approval request and assign an invoice in front of you.
