People in the apparel industry know that today’s fashion designs and styles can be gone tomorrow. It is a constantly changing industry where apparel companies must keep pace with the latest fashion trends or risk going out of business.
Whether your business is new to the apparel industry or is a small to medium-sized company, having the capital you need to compete and grow is essential. Unfortunately, unlike large corporations with substantial cash reserves, many new and smaller companies in the apparel industry struggle with fluctuations in cash flow that can affect many aspects of a company’s operations and growth, including:
- Difficulty paying employees on schedule
- Not being able to pay operating expenses
- Being unable to purchase inventory and materials to fill customer orders
- Missing growth and expansion opportunities because of insufficient capital
Customers in the apparel industry generally demand aggressive credit terms instead of paying for orders when delivered. It is common for a company in the apparel industry to wait 60 days or more for payment. Seasonal fluctuations in orders can also mean a drop in cash flow that can cripple a business.
Factor Funding Company is a nationwide expert in developing and offering factoring solutions for the cash flow problems of companies in the apparel industry. Its apparel industry factoring turns your unpaid invoices into immediate cash that can be used for any purpose, including:
- Meeting current payroll needs
- Taking advantage of growth and expansion opportunities
- Upgrading equipment to keep pace with changing technology
- Marketing and advertising to attract new customers
- Providing a consistent flow of cash during slow periods
- Allowing your company to take advantage of cash discounts from suppliers
Borrowing from banks can take time, be expensive, involve time consuming applications and paperwork, and burden your company with another monthly payment. With apparel industry factoring, your company receives a percentage of the face value of its unpaid invoices without having to wait for payment from the customer.
By factoring a portion of your outstanding invoices at regular intervals, your company can have a consistent flow of cash. Instead of waiting months for payment, your company can have the cash it needs as soon as it ships an order.
GET IN TOUCH WITH FACTOR FUNDING
What better way to get the peace of mind you need for you and your family than from an expert with decades of experience helping countless others in exactly the same way?
Reach out for assistance to ensure that your feeling of being in a rut over awaiting settlement doesn’t last long. We get plaintiffs the cash they need.
Waiting around won’t help you pay your expenses. We look forward to chatting about your financial needs and how we might be able to partner up to assist in achieving your goals. Here’s to your success!