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.