Financing Options for Import Companies explores how to financing your growing import company. A mixture of purchase order financing, accounts receivable funding and inventory funding may be the perfect solution is to growing your transfer business. Whether you are starting an import business or have a recognised importing business, it’s rather a very profitable venture if you have the right financing to increase your business. Imports are defined as: a good that crosses into a country, across its boundary, for commercial purposes; something, which might be a ongoing service that is provided to domestic residents with a foreign producer; or a combination of the two.
Starting or working an transfer business hasn’t been more profitable because of computers, the internet, and the availability of low cost imports from countries such as China and Mexico. These imports may be resold for up to ten times their cost with respect to the competition in your field of operations. It is essential which you have good, honest suppliers plus creditworthy customers with purchase orders for your imports. If you have the right financing, your business can grow exponentially. But how will you finance growth if your own resources or bank lines of credit are not sufficient to consider advantage of big opportunities? A mixture of purchase order financing, accounts receivable financing with inventory funding might be the perfect solution is.
Definitions: Purchase Order FinancingPurchase Order financing is the assignment of purchase orders to a third party, a commercial financing company, who assumes the responsibility of billing and collecting then. Purchase order financing may be used to finance all current and subsequent orders to improve your companys cashflow. The accounts are settled and the profit is paid to you.
Accounts Receivable FinancingAccounts Receivable Financing is the selling or pledging of your company’s account receivable, at a discount, to a Factor, a Commercial Finance Company or even to an Accounts Receivable Financing Company who may believe a threat of loss. You receive a portion, usually 80% to 90% of the facial skin value of your receivables before payment from your customers in return for a fee, or interest, to be paid to the commercial finance company. When the commercial finance company is paid by the customer, the correct fees are deducted and the remainder is rebated for you. Accounts receivable financing is also known as accounts receivable factoring, factoring financial services, invoice factoring and cash flow factoring.
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The terms are accustomed to communicate the same meaning. Inventory FinancingInventory funding is financing secured by the inventory of your business. Inventory financing enables import companies to carry more stock without cash flow strain and to generate more sales. Inventory financing is often part of a Purchase Order and Accounts Receivable Financing commercial finance deal.
These three types of funding can enable an transfer business to increase purchasing capabilities significantly; you can acknowledge larger orders and grow your business exponentially. You can use your inventory to leverage your purchasing power. You can use your visitors credit to obtain these three types of funding; and you will use the commercial fund companys credit to secure a letter of credit. The concept of financing your import company with other individuals money is part of the safe and sound business plan. Add strong product quality settings, inventory handles, and good accounting to maximize the success of your import company.
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