Purchase Order Financing is used by business worldwide that are experiencing working capital problems and have large orders to fulfill. PO Financing allows start up businesses to fulfill orders that seem larger than their current financial credit lines can handle.
No working capital = No Growth
Frequently Asked Questions About Purchase Order Financing:
What kind of businesses use Purchase Order Financing?
All kinds of businesses use PO financing. Such as wholesalers, import / exporters, distributors, and manufacturers to start.
When do most businesses use PO financing?
Startup businesses that are experiencing rapid sales growth, seasonal sales increases, companies launching a new product line, and companies that are experiencing working capital restraints to name a few.
Many industries can benefit from PO Finance including; apparel, electronics, housewares, sporting goods, toys/games, furniture, food products, hardware, and industrial goods.
How long does it take to get approved for purchase order financing?
The time period varies because we need time to research your customer. So it can take 3 business days for us to verify the purchase order and research your client. It will then take 7 -14 days for funding.
What do you look for in MY startup business to determine if we are eligible for purchase order financing?
When setting up the initial account we not only exam your client but we look at your business, your supplier etc. We are looking at your businesses management experience. Who are you buying from? Are they reliable? When do you expect your client to pay for the shipment. Are your terms 15/30/due on delivery…or? . Bottom line is this: If it will help you make a profit then its something we are interested in.
If we need PO Financing again after completing our first transaction. What do we need to do if we need financing again, but different customer?
Its not a problem. Since you have an account with us we just need to research your client.
My business provides a service. Can I still apply for PO Financing
No, sorry, purchase order financing can be used only if you sell a tangible product.
How do we get the money to our suppliers?
No, our purchase order bank will issue letters of credit to your suppliers on your behalf.