Accounts Receivable Financing for Printing Companies
Factoring your accounts receivable for available cash is one way you can get the ball rolling towards growth for your business. Universal Funding is an accounts receivable factoring company and can become an ideal partner that supplies the cash, but won’t tell you how to run your business.
Our CEO and founder, Henry Wozow and his wife Pattie, started a west coast printing company over 30 years ago. During a growth phase, Henry actually factored his accounts receivable invoices until he was able to obtain traditional financing. Thanks to this decisive action and a decade of savvy planning, his business flourished and was sold for a considerable profit.
Henry has hands-on experience in the printing industry, so he understands the issues you may be facing. By its very nature, printing is an industry that experiences cash flow issues at one time or another. The gap between receiving payments from your customers and paying suppliers for raw materials can cause disruption to your cash flow and could stunt your growth plans.
On top of the usual issues, the printing industry is experiencing a hit from changes in technology. So much of what used to be in print has gone digital or online. Because of this shift to internet advertising, e-books, and online news, many printers are closing up shop, which could mean less competition for those who are innovative.
David Dodd’s blog post “Finding Opportunity in the Recession” at PrintCEO.com provides an interesting observation. “Many graphic communications companies now consider themselves to be ‘marketing services providers.’ I can’t help but wonder how many of these MSP’s are now working aggressively to create innovative solutions that will help clients maximize the effectiveness of their marketing efforts and ‘stretch’ their marketing dollars.”
As a printer, you have the opportunity to offer marketing solutions to your new and existing customers. “Doing more for less” has always been smart, but now it’s crucial for businesses to grow. One way to capitalize on this hot topic is through cross-media marketing. Offer your clients a contact list, printed materials that direct traffic to a website, follow-up calls and/or emails, and easy tracking of the returns.
Innovation costs money. Don’t you wish you could just print money? Or when you print an invoice, the payment comes right away? An invoice factoring program can unlock your receivables and turn them into cash to pay the bills and grow your business.
Growing companies can turn to Universal Funding for working capital on demand. We can fund start-ups, principals with poor credit, companies that have lost their line of credit and businesses that don’t want debt. We have helped companies with seasonal or uneven sales patterns and companies that may be headed for trouble unless they can rescue cash flow.
Universal Funding has the cash solution for businesses large and small, local and national.
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