Invoice Factoring for Manufacturing Companies
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Manufacturing Industry Overview
Whether large or small, manufacturing companies require working capital to support ongoing cashflow needs. Many expenses are incurred when purchase orders are received and while product is being manufactured, all before being able to invoice customers. Manufacturers need capital for payroll, materials, inventory, and day to day operating expenses. In addition, after goods are shipped manufacturers typically are waiting 30-90 days to get paid from customers. In some cases, invoice terms might be as long as 120 days. This results in a large cashflow gap and is the reason why many companies utilize factoring for manufacturing companies. Our manufacturing factoring specialists at SMB Compass are here to walk you through the benefits of using our specialty factoring programs.
Factoring for Manufacturing Companies
Benefits of Factoring for Manufacturers
Eliminate Amortizing Debt
Take Advantage of Supplier Discounts
Improve Working Capital
No Monthly Volume Requirements
Free Customer Credit Checks
No Long Term Contracts
Choosing the Right Manufacturing Factoring Company
You should spend time researching every potential business relationship before entering into an agreement. This is the same when choosing a manufacturing factoring company to work with. Make sure that you work with a factoring company that has a deep understanding of your industry and takes the time to learn about your company. Our manufacturing specialists at SMB Compass will always make it a point to provide as much information and transparency as possible. Speak with a factoring advisor today to learn more about how SMB Compass can provide the working capital solution you are looking for.