Dental manufacturer secures bigger clients with a $500,000 factoring line
AR Funding is proud to welcome this manufacturer of patented products as one of its newest clients.
AT A GLANCE
Industry: Manufacturing
Location: MA
Company size: ~$2 million annual revenue
Reason for applying: Offer competitive payment terms
Cash available through factoring: $500,000
***
PROBLEM: Costly patents hampered business cash flow
After conducting nearly 10 years of R&D and filing a series of patents and trademarks, the owner-operator of this small manufacturing company was able to bring to market a collection of specialized dental instruments that have attracted orders from some of the largest distributors in the industry.
Considerable development and legal costs had left the owner unable to qualify for bank loans or lines of credit, and with terms of net 30 considered standard in the industry, the company struggled with cash flow.
SOLUTION: $500,000 factoring credit line
The owner was introduced to AR Funding by their business advisor as a potential source of alternative financing. With invoices backed by purchase orders and a roster of creditworthy customers, the company was quickly able to qualify for a factoring line of $500,000 per month.
Now the owner has the cash needed to fulfill an increasing number of larger orders, and will also be able to shift manufacturing from China to the U.S. in the near future.
This happy client received financing with help from Courtney Moore, Regional VP, Northeast Region. Find out how much cash your company can access through invoice factoring. Talk to us.
