It is likely you already have the ability to secure an invoice finance deal which will be able to fund almost every aspect of your business.
Particularly for the manufacturing industry, you are often required to allow customers time to settle their debts with you after you have supplied the goods, perhaps up to 30, 60 or even 120 days in some of the more extreme cases. Invoice finance allows the release of up 100% of the value of these invoices so you can use the cash instantly to cover costs such as paying suppliers, rent, payroll and machinery repair.
The use of the cash advance is up to you, with many manufacturing companies using their newly found cash flow solution to purchase new machinery which allows increased productivity and growth.
If you wish, you can request for the factoring lender to advance you the percentage value of your invoice whilst also taking on responsibility for management and collection of debts owed to you. This saves your time and admin costs as you are effectively outsourcing your credit control facility, but we understand this isn\’t for everyone.
Manufacturing finance can also come in the form of invoice discounting which is typically taken up by firms which already have an established credit collection facility. Invoice discounting for manufacturing companies is a confidential facility which means your customers need never know you are using it.
There are many advantages of choosing either manufacturing factoring or manufacturing invoice discounting as your cash flow funding solution:
If you are interested in any manufacturing funding products, click on the compare quotes button below to speak to a consultant today, free of charge.
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"Very polite and a professional team of financial advisers who seem to know their business, work well within their industry and get a result."-Invoice Finance Introduction
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