Solve Your Cash Flow Problems by Factoring Your Manufacturing Receivables
Factoring your manufacturing accounts receivables is the perfect solution for businesses who have cash flow problems because of slow paying customers. Don’t let your successful business suffer because of reliable customers who are slow to pay. Manufacturing factoring can provide the immediate cash flow your business needs to survive and grow. With steady working capital you will always have the funds you need to meet payroll, afford new materials and other necessities and be able to take on new customers on a regular basis. Factoring your manufacturing receivables also can provide extra back end office support, like handling collections, so your employees can use their time working on new leads and other important projects. Let Accounts Receivable Cash help you get started today with manufacturing factoring to improve your cash flow.
How Does Manufacturing Factoring Work?
Factoring manufacturing receivables is simple! Fill out a quick and easy application and submit for approval, which will take between 3 and 5 business days. The application process requires minimal paperwork and documentation. The following documentation is required to complete your factoring application:
- Articles of Incorporation
- The invoices you’d like to factor
- Current customer list
- A current invoice aging
Once you are approved, submit your unpaid invoices to the manufacturing factor who will then verify the invoices and advance you the cash within 24 hours by way of direct deposit into your bank account. All you have to do next is operate your business as usual and wait for your debtor to pay the factor who then advances you the rest of the cash minus a small factoring fee. Don’t worry about qualifying for manufacturing financing if your business has bad credit, factors looks at the credit score of your clients when determining if you qualify for factoring your manufacturing receivables. ARC is focused on flexibility and works to match you with a manufacturing factor who will create a factoring plan tailored to your businesses goals and objectives.
Use Accounts Receivable Financing to Benefit Your Manufacturing Business
AR financing is a flexible way for companies to fund growth. With extra funds on hand manufacturers can cover their every-day operating expenses, hire new employees, purchase new supplies or update inventory, there are no limits on how you can apply your cash.
There are no minimum or maximum amounts you have to factor each month and there are no long-term contracts involved. When factoring your manufacturing receivables, your funding potential is only limited by your sales, the more you sell the more you can factor and the more cash you can have on hand. You can factor as much as you want and as often as you need it depending on your business goals. Financing manufacturing receivables allows you to manage and eliminate debt. While factoring does not create new debt, having immediate cash on hand helps you to turn your attention to paying down current debt which will improve your credit rate. Don’t worry about qualifying for manufacturing factoring if your business has bad credit, factors look at the credit score of your debtors when determining if you qualify for financing your manufacturing receivables. Accounts receivable financing for manufacturing helps your business improve flexibility with your suppliers. It enables manufactures to negotiate early-pay discounts with suppliers because you’ll have the improved cash flow to cover the extra expense.
When Can You Start Factoring Receivables?
If your a manufacturer with outstanding invoices, you can get started now. ARC provides a wide network of manufacturing factors eager to work with new companies. Industry-low, competitive rates are offered that are tailored to your manufacturing company’s needs.
Let ARC help you begin factoring your manufacturing receivables today so your business doesn’t miss out on new opportunities due to cash flow problems. Contact us for a free quote today at 866-937-8146.