Customers in some industries take it for granted that vendors will give them payment terms on their invoices. Companies that make and sell chemical products find that commercial and industrial customers can take 60 to 90 days or longer to pay for products they purchase. Payment terms are a part of doing business for large chemical companies that have cash reserves they can use to pay operating expenses while awaiting customer payments. Small- and medium-sized companies do not have cash reserves to rely upon.
Getting new orders is good for business, but slow-paying customers can cripple your business and make it impossible for your chemical company to fill orders and satisfy customers. Inadequate cash flow can make it impossible for your business to meet its current financial demands including:
- Purchasing supplies and raw materials
- Keeping pace with new technology and equipment
- Meeting payroll expenses and operating costs
- Financing expansion into new markets
Your company’s unpaid invoices that are creating your cash flow problems could become the solution you need.
The Invoice Factoring
Chemical company factoring solutions from Factor Funding Co. will convert your unpaid invoices into instant cash. Bank financing or lines of credit offer money, but the application and underwriting process required to obtain bank financing can be time-consuming. Banks require financial statements and documentation that can take days or weeks to gather.
Some of the benefits of chemical company invoice factoring include:
- A quick and simple application with fast approvals
- The past credit history your company or its owners is not a factor
- 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
Factor Funding Co.
Once your application is approved, the money is deposited in your company’s account and is available for use. Factor Funding Company collects the invoice payment from your customer, so your company does not have to be in the collections business. We deduct the amount your company received from us plus a small fee from your customer’s payment, and the balance is paid to you.
Factor Funding Co. can turn your accounts receivables into working the working capital you need to attract new business opportunities and grow.
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!