You can take your company to the next level with a large project and access to cash. However, low cash flow can cause you to lose the opportunity. Many companies accept the challenge of a large project with the help of PO funding. Purchase order funding is an excellent financing option when your business needs a quick influx of cash in order to accept a large project.
How Does Purchase Order Financing Fund My Large Project Plans?
Planning a large project is a complex undertaking, and an important part of the project’s success is adequate funding. Your business cannot afford to waste the effort and time it takes to begin a big endeavor, only to find cash flow is too low to continue. Po Funding is a quick solution to generate the cash required to begin or continue your large production project. The process is simple:
- Your business receives a purchase order to provide goods.
- The financing company finances the cost of production.
- You deliver goods to your customers and invoice as usual, using the net terms you would typically use, and send a copy to the finance company.
- The finance company will provide an advance for the invoice so that you don’t have to wait out the terms of 30+ days.
- Your customers pay the financing company.
Combing the PO funding and factoring services will provide any business with a surge of cash to continue with a high production output. This financing option is much quicker than a bank loan because the financing company can quickly make a decision based on your open receivables instead of a lengthy examination of your company history and credit standing. The process usually is as fast as a few days. Once you have collected your cash, your part in the process is done, and you can get to work on your large project.
How Do I Begin the PO Financing Process?
The first step to funding your large project through purchase order financing and invoice factoring is to contact a reputable factoring company. Universal Funding can answer your questions about purchase order financing and help you access cash for the success of your large project. Simply fill out our online rate form to begin the process and request a no-fee consultation today.