Using Purchase Order Financing for Your Import Company
Are you an import business looking for a way to finance your purchases? Purchase order financing may be the answer. This type of financing allows businesses to purchase goods from suppliers before they have received payment from their customers, allowing them to expand their operations and increase profits without having to wait on customer payments.
How Purchase Order Financing Works
Purchase order financing works by allowing businesses to finance the purchase of goods from their suppliers, before they have received payment. This financing is typically provided by a lender or financial institution, which advances the required funds to cover the cost of the order and any associated shipping costs. The business then pays back the lender once they receive customer payments for their goods.
Grow Your Business
Purchase order financing can be a great option for businesses that are looking to expand their operations without having to wait on customer payments, as it allows them to purchase goods upfront and have the funds available when they need them. Additionally, this type of financing is often easier to qualify for than traditional bank loans, making it an attractive option for small and medium-sized businesses that may not have the best credit history.
Long-Term Savings
In addition, purchase order financing can help your business save money in the long run. Since you’re able to buy goods upfront, you can take advantage of discounts from suppliers that offer early payment terms or bulk discounts – a savings that would be lost if you had to wait for customer payments before making purchases.
Peace of Mind
Finally, purchase order financing can provide businesses with peace of mind knowing they have the funds available when they need them. No more worrying about waiting on customers who are slow to pay; now you can move forward with confidence and focus on growing your business.
If you’re an import business looking for a way to finance your purchases, contact My Commercial Capital today and ask about our purchase order financing.