Pallet Company Factoring
Pallet companies can run into cash flow constraints just like any manufacturer when making and repairing pallets for customers. The pallet industry requires labor and the purchase of supplies far in advance of getting paid by your customers that buy your pallets. It makes sense that a very high percentage of pallet companies have turned to invoice factoring to speed up cash flow in order to keep up with pallet manufacturing demands.
Once your pallets have been made and the load has been shipped to your customers you need to move on the next order and pay your labor and supply bills. It can turn into a very tight situation as you waite 30 to 60 days to get paid. This often leads to slowing down your growth or managing the mail box for payments when you could better use your time more effectively.
Imagine if all your pallet customers paid you in one day? That’s what we can offer using pallet company factoring. You generate your invoice just like you always have and submit the invoice to us for funding. We provide you with 90% of the total the next day. We hold 10% in a reserve account and once your customer pays the invoice you get the 10% less the invoice factoring fee. The factoring fee ranges from 1% to 3% of the invoice total.
Factoring Can Save Your Pallet Company Money
Pallet companies that use factoring can often make up a lot of the factoring fee by using the immediate cash they receive. Often suppliers in the pallet business offer discounts for quick pay or cash pay sales. These discounts can often be 1% to 5%, bringing savings to your bottom line in addition to the cash flow boost. Factoring your pallet manufacturing invoices with factoringfast is a powerful tool so why not get your free no obligation quote right now.
PALLET COMPANY FACTORING BENEFITS:
- No up front fees in most cases.
- Advances made within 24 hours.
- Free quick credit checks for your new customers.
- No add on fees, your factoring fee is your total cost.
- Factoring rates as low as 1%.
- Advances average 90%