Customers in some industries take it for granted that vendors will give them payment terms on their invoices. Business owners in the chemical industry often find themselves waiting 60 to 90 days or longer for payment. Payment terms are a part of doing business for companies that have cash reserves to rely on to cover operating expenses while awaiting customer payments. Unfortunately, small- and medium-sized companies often do not have the same luxury.
Business owners in the chemical industry encounter a range of challenges due to the industry’s complexity, regulatory environment, and market dynamics. From navigating safety regulations to meeting environmental standards, dealing with supply chain disruptions to adapting to customer preferences, business owners can really start to feel the strain of an unstable cash flow.
Getting new orders is good for business, but slow-paying customers can make it impossible for your chemical company to fill orders and satisfy customers. Inadequate cash flow keeps your business from meeting financial demands.
Your company’s unpaid invoices that are creating your cash flow problems could become the solution you need. Chemical industry factoring creates a bridge between invoicing and payment.
The Invoice Factoring
Chemical company factoring solutions from Factor Funding will convert your unpaid invoices into instant cash. You could secure funding from traditional sources like bank financing or lines of credit, but the application and underwriting processes are time-consuming. Plus, new or growing businesses may not have the credit history to qualify or the luxury of waiting weeks for their applications to be approved.
Financing your invoices is an easy, convenient way to get a cash advance for the face value of your unpaid invoices.
Some of the benefits of chemical company invoice factoring include:
- A quick and simple application with fast approvals
- No restrictions on how the money can be used
- No monthly payment to add to your company’s accounts payable
- Receive up to 95 percent of the fact value of your invoices within 48 hours
It’s much easier to invest in and expand your business when you know you’ll have the cash on hand. With invoice factoring, you don’t have to wait until the end of every month to receive the bulk of your payments. A custom factoring solution created to meet your specific business needs can help your business stabilize cash flow.
The factoring process is simple. Once your application is approved, the money is deposited in your company’s account and is available for immediate use. Factor Funding handles the invoice payment collection from your customer. Our team deducts the amount your company received from us plus a small fee from your customer’s payment, and the balance is paid to you. Then, you can repeat the factoring process whenever you need to.
Factor Funding can turn your accounts receivables into the working capital you need to meet your financing goals. Invoice factoring might just be the game-changer your chemical business needs!
GET IN TOUCH WITH FACTOR FUNDING
What better way to get the peace of mind you need than from an expert with decades of experience helping countless other chemical company owners in exactly the same way?
Reach out to our financing experts to chat about your financial needs and learn how we can partner with you to help you achieve your business goals.
Once we understand your company and what makes you unique, we’ll know how to best provide the right, customized experience. Here’s to your success!