Pallet Company Factoring
Factoring for pallet companies in the manufacturing industry allows companies to have cash faster than they would otherwise. The invoice factoring process is basically selling your accounts receivables to a manufacturing factoring company in order to be advanced a percentage of that invoice amount. It’s a simple, straightforward process.
Since pallet companies often have cash flow issues due to payroll costs, the need to purchase raw materials and other business expenses, factoring is a great option that allows pallet businesses to take on new orders while maintaining a steady cash flow.
The Factoring Process for Pallet Companies
The process of invoice factoring for your pallet business is easy, which is why so many companies in the manufacturing industry turn to factoring as a financing solution.
- Find the best factoring company for your business. Factor Finders listens to what you want and need, then partners you with the best match based on those needs, location and industry.
- You’ll go through a quick approval process.
- You will fill orders on your typical terms, as usual, and submit the invoice for the completed work to the factoring company.
- The factoring company will advance you a percentage of the invoice, between 80 to 95 percent.
- Once the customer pays the factoring company on their normal payment terms (30 to 90 days), the factoring company will release the rest of the invoice, minus a small factoring fee.
Complete the form or call 855-322-8671 to get started.
Benefits of Pallet Company Factoring
Low factoring rates in the manufacturing industry
High advances for your invoice
Easy application process
Funds within 24 hours
No long term contracts
Why do Manufacturing Companies Factor?
There are many reasons why companies factor their invoices, but companies in the manufacturing industry, such as pallet companies, use the money to cover costs for:
- Covering the cost of payroll
- Purchasing new equiptment
- Buying materials needed
- Costs of shipment
- …other business or operating expenses