Many companies want or need to take advantage of a good opportunity. Businesses need to move on deals and grow or face the chance of being stagnant. Here is one more way to find alternative financing for your business.
Let's say you're doing well with a steady stream of orders, then BOOM, you get a huge contract and your volume goes up all at once. You're happy because business is up - but wait a second, how are you going to pay for all of this?" it is a lot more than you typically do at once! You're thinking "If I can just find a way to make this deal happen, I'll take my business to another level."
Using purchase order financing gives you the ability to fulfill all your sales orders, even those that exceed your norm in volume or scope. 100% financing of your supplier costs frees up your cash for critical business expenses allowing you to deliver bigger orders. All you need is a Purchase Order from a credit worthy commercial or government client to get started.
Bank loans can be cumbersome, slow and involve some serious applications. You can spend weeks trying to get a loan and wait around only to be turned down. Purchase order financing is easier.
The steps to being ready for purchase order financing are really quite simple. First you need to get a purchase order from your customer, secondly you need to find a reliable supplier for your products, and lastly place the order with that supplier. This will get you on the track to getting purchase order financing.
With purchase order financing, you can:
+Minimize capital constraints by letting us fund it for you
+Grow your business now and pave the way for more
+Improve your competitive edge among customers and suppliers
+Allows companies to grow without increased bank debt or selling equity
+Helps ensure timely deliveries to customers
+Increase market share
+Allows companies to make larger profits by fulfilling larger orders
+Fast flexible funding
I'm often asked what are the typical terms?:
+Financing from $10,000 to $500,000 on a transaction by transaction basis.
+Distribution or service purchase orders considered as well as end stage production.
+Purchase Order Fees determined on each individual purchase order.
+Assistance in contracting and negotiating with suppliers.
+International and Domestic Letters of Credit available.
The bank said no - here you can get a yes!
While a bank looks at your company's finances, purchase order lenders look at those of your customers. If you sell products to large companies or government concerns, they can fund it for you in expectation of your future profit. It's a great way to get the working capital you need, in a matter of weeks
Once I explained this to a business owner and he said to me "Thank you! Now I can go out and pursue a big order I passed on yesterday. I knew it was coming and I thought about how to pay for it. I was going to get a home equity loan but I didn't have enough equity. I didn't have enough personal savings or cash, and I even considered pulling out money from my IRA and paying the taxes and penalties but it would have been too expensive, so I decided to pass on this big order for a school district remodeling project. It would be a great job and my business is perfect for it. With this purchase order financing, I can stop worrying and go do it."
Author Resource:-
Jim is a former VP of a bank & now a commercial loan broker, speaker, author. Jim enjoys helping entrepreneurs find ways to finance projects. Get his free ebook at http://www.doughforthedream.com, read free info at doughforthedreamblog.com or listen to audio http://www.doughforthedream.podomatic.com
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