Purchase Order Funding
Purchase Order Funding: What Are The Options?
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Purchase order funding is a way of getting short term funding to provide 100% of the cost needed to fill orders from customers who have proven themselves to be creditworthy. Purchase order funding provides all the financing you need to provide the order from start to finish.
Advantages of doing things this way are several: you may pay the supplier in advance of shipping the product if that is required. Advance payments may be made with a Letter of Credit, where your own business's credit worthiness isn't taken into consideration, but the credit worthiness of the customer is (i.e. you are covered for losses).
Purchase order funding gives businesses an opportunity of 'punching above their weight' and being able to fill orders where normally this would not be possible except with expensive funding such as a bank loan or overdraft. You can also take advantage of any discounts to be had from monies paid up-front. This additionally enables the ability to drop ship products from suppliers to credit worthy customers.
Purchase order funding is also a favourite of businesses seeking to trade with previously unknown businesses, and particularly with overseas suppliers. Indeed, this form of funding has opened up new opportunities in markets which would not be considered before. Also, unlike a loan or overdraft, there is no need to put up any other equity in order to get the funding.
If you'd like to know more about purchase order funding then make an appointment for a free no-obligation chat. All details are held in the strictest confidence. You'll be so glad you did!
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