For small business owners, wholesalers, and independent contractors, getting business financing is almost impossible in today’s challenging economy. Despite successful business ventures with incoming accounts receivables, their small size prevents them from accessing favorable bank loans and other forms of traditional financing. PMF Bancorp understands the challenges faced by small business owners, wholesalers, and independent contractors, and we believe factoring, accounts receivables financing, trade financing, and purchase order financing could easily provide a solution for many of these small business owners if they were aware of our services.
Invoice Factoring For Small Business Owners
For small business owners, wholesalers, and independent contractors, the extra level of difficulty is that typically, your largest receivables are from your largest clients and your cash flow as well as future ability to make money are all tied together. If your clients and customers fail to pay on time, it is more than your company that can be placed in a tight spot. Hiccups in accounts receivables delivery or cash flow it will immediately affect you on a personal level. With a history of helping small business owners with cash flow questions and problems, PMF Bancorp is the one-stop financial shop that you need to succeed.
A common problem that small business owners find is that most corporate customers often treat them like a regular supplier and demand credit terms. As a result, you have to deliver the work, perform the services, or provide the goods, then wait up to 45 or even 60 days before getting paid. Such a long waiting period is often a rude awakening as few small business owners or independent contractors can afford to wait this long for payment.
PMF Bancorp Is A One-Stop Financial Shop
PMF Bancorp delivers an alternative that has been gaining traction in small-business circles as a solution to this problem. Factoring and Accounts Receivables Financing provides a funding advance on your open invoices while ensuring that your customers are credit worthy using our credit experience. PMF Bancorp can help to provide small business owners, wholesalers, and independent contractors with the necessary cash flow that helps your business continue to survive. Beyond survival, we also can help you grow and prosper with a variety of added financial services.
An advantage of factoring and accounts receivables financing is that your clients do not need to pay their invoices any quicker. As opposed to a fixed size business loan, factoring lines are flexible because they are tied to your sales (not your equity and historical profitability). This enables the factoring line to increase as your business continues to grow whereas other loans cannot. If you want to know more and access a free consultation with our factoring and accounts receivables financing expert, please take the first step and contact us today and call us at (310)-858-6696.