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We are honored and pleased to announced that PurchaseOrderFinancing.com has been spotlighted in the February 2010 issue of Entrepreneur Magazine. The article titled “What To Do When The Bank Pulls Your Line Of Credit” discusses multiple types of financing options for businesses that can no longer obtain traditional financing.
For further information please see our press release:
“Purchase Order Financing Site Highlighted in Entrepreneur Magazine”
In today’s down economy, traditional lenders are unwilling or unable to invest in new business start-ups, no matter how promising the concept. Purchase order funding can be the life line that provides capital even in a down economy, because funds are approved on the basis of solid orders you have received. If you can prove you’ll get paid, we’ll send a letter of credit to your supplier, and return all but a small percentage of the eventual proceeds to you. A classic win-win situation.
First, the bad news. You have a promising concept for opening a new business, but cannot find a resource to provide the capital you need; and today’s damaged and stagnant economy does not inspire hope.
Traditional commercial lenders like banks, private investors, credit card issuers, equity firms, even well-to-do friends, neighbors and family members, are currently unwilling or unable to help. No one has the necessary combination of investment inclination and disposable income or retirement assets to back you. Protecting their own portfolio is paramount today, no matter how good your business idea may be.
The good news? There is a tool that provides capital to small businesses regardless of overall economic conditions: purchase order financing. Funds are approved on the basis of solid orders you have received but do not have the money to fulfill. (Hard goods only, not services.) If you can prove you’ll get paid, we will send a letter of credit to your supplier - when you complete the order, the supplier pays us, and we send all but a small percentage of the proceeds to you. Getting 95% of a sale’s profit is unarguably better than getting zero.
Starting up a new business in a loan-challenged economy may seem like an unrealistic goal. It won’t be easy, but PO funding may at least make it possible.
For further information about us check out some of our past articles on Apparel PO Financing and Government PO Financing.
A new breed of entrepreneur has developed in this challenging economy, the online government contract bidder. It’s the lure of easy money, good credit and high dollar transactions. As the old saying goes, “If it were that easy everyone would be doing it.”
Many different laws and rules are specific to each government body. Federal contracts are arduous and very process specific. Working with state and local governments can be very challenging, even requiring additional procedures beyond those of federal contracts. We offer a variety of PO funding programs tailored to government contractors and vendors. We work with you step by step and share our years of knowledge and experience dealing with financing government contracts.
So be prepared! Partner with a government purchase order financing company with experience funding at all levels of state and federal government. Learn the challenges, along with our creative solutions prior to winning a government bid. Because you may not have time after the fact to learn process or even worse educate your funder on it as well.
Visit PO Financing on Twitter for all the latest updates. We look forward to talking with you soon!
Whether you are new to PO Financing or not, you may benefit from some of our recent articles including:
The world is a dynamic environment. Like fashion, economies change, and not always for the better. The financial crisis is still impacting small businesses rather aggressively. Banks are not lending. Many commercial finance companies view the clothing world as trendy and risky. Where are apparel companies to turn for financial support?
Purchase Order Funding looks to the credit worthiness (and good fashion sense) of your customer. We work with your manufacturer to get your garments produced on time. We then work with your customers to ensure payment of the invoice. Through our customized apparel PO financing programs we are there to support your sales success with our financial strength. We rely on your fashion sense, you rely on our financial sense.
PurchaseOrderFinancing.com also can factor apparel accounts receivables. Since we do both sides of a purchase order transaction, we gladly welcome the opportunity to service your accounts receivables financing and factoring needs.
Purchase order financing is a turnkey financing solution to get your goods produced, delivered and paid by your customer. You provide a valid purchase order with a credit worthy customer and the expertise to manage the process. We provide payment to your supplier, thus allowing your goods to be produced and shipped. Payment is typically completed through issuing letters of credit. We continue to work with you through the collection of the invoice. Our goal is to make the transaction as smooth as silk.
New to PO financing? Check out some of our recent articles to get up to speed:
Times are tough and money’s tight. Banks are still virtually “shut down”. But there is a way for businesses to get money, and grow. Purchase order financing is not difficult to obtain, even in difficult economic conditions, because it is based on the promise of a sale.
The problem it solves is one of timing: how do you pay a supplier for goods or raw materials before your customer pays you for your finished product? Through one of our purchase order finance programs we can issue a letter of credit to your supplier guaranteeing payment. You do your work, and ship the finished product to your customer, often a retailer. When they make their payment, you receive all but a small percentage that the financier earns for making the entire arrangement possible. Everybody wins.
It works because it is supported by the credit and finances of the end customer, not you or your supplier. So as a small company, you are not excluded from doing business with much larger ones. In fact, purchase order finance can provide virtually unlimited amounts of working capital, as long as the purchase orders are from creditworthy and reliable companies or government entities. The potential to grow your business is there, even in today’s tough economy.
We provide domestic and international purchase order financing to a variety of industries including: food, hardware, electronics, apparel, sporting goods, furniture and housewares. In some cases our fast financing programs can provide the funding in as little as 14 days of your initial call. Contact us today to learn more about us and what PO funding can do for your business.
Dan Casey keeps all the plates spinning at Purchase Order Financing. He also enjoys blogging about PO Finance and Trade Finance issues relevant to his client base. Read More...
