For starters, a bank often requires a decent amount of collateral and years of bank statements to get funded. Once those hoops are jumped through, actually receiving the cash takes even longer. Purchase order financing is different. Collateral is not required, and doesn’t follow the same rules of a bank loan.
The process is fast, and in some cases some businesses can fund your suppliers in as little as 72 hours. PO financing companies understand that your business is more than just numbers on paper. There is potential. That is why we only partner with financing companies that appreciate small businesses.
PO Financing Prepares Your Business for the Unexpected
Another great thing about PO Financing is that you can use it for unexpected expenses as well. If a customer calls you and places an unusually large order that you don’t want to lose out on, you can use PO financing to cover it. Your business may also have slow paying clients who don’t pay for 30-90 days that you just can’t afford to wait on. Stop waiting, start financing.